(7 Apr 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
ARCHIVE: New York – 18 March 2025
1. Various exteriors of Wall Street
ASSOCIATED PRESS
Washington DC – 7 April 2025
2. SOUNDBITE (English) Josh Boak, The Associated Press:
++PARTIALLY COVERED++
"The financial markets have had a few days to try to digest President Donald Trump’s massive increase in tariffs. And so far, their panicked. They’re worried. They’re afraid not just of higher prices, but a possible recession, with the investment bank Goldman Sachs saying that there’s a 45% chance of a recession this year even if some of those tariffs get pulled back. Right now, the White House is showing no signs of retreating, even as Vietnam has offered to put its own tariff rates at 0% and Israel has done the same."
ASSOCIATED PRESS
Washington DC – 21 July 2023
3. STILL of the White House
ASSOCIATED PRESS
Washington DC – 7 April 2025
4. SOUNDBITE (English) Josh Boak, The Associated Press:
++PARTIALLY COVERED++
"The core issue in many respects is the idea that the White House wants not just tariff cuts by other countries, they also want changes in those countries taxation and regulatory codes. And doing that is going to take time. It’s going to be hard to resolve this situation quickly. However, we’ve also seen that markets are so desperate for good news and the situation is so sensitive that a misleading report on social media that Trump was considering a 90 day pause instantly caused the stock market to recover somewhat on its daily losses. All of this points to the fact that the uncertainty is only mounting. We’re seeing the fear spread into other parts of the economy, as businesses and families are figuring out what this means for them, not just in terms of high prices, but in terms of slower growth and possible layoffs. As a result, the drama will only keep building until we get a clear signal from the White House in terms of what they plan to do to address the possible damage, and also ensure that this is a policy that does more to help the United States than possibly hurt it."
++ENDS ON SOUNDBITE++
STORYLINE:
U.S. stocks fell again Monday after President Donald Trump doubled down on his tariffs, despite seeing how much Wall Street wants him to do the opposite.
"The financial markets have had a few days to try to digest President Donald Trump’s massive increase in tariffs. And so far, their panicked. They’re worried," said Josh Boak, a White House reporter for the Associated Press.
"Even if some of those tariffs get pulled back. Right now, the white House is showing no signs of retreating, even as Vietnam has offered to put its own tariff rates at 0% and Israel has done the same."
Earlier in a heart-racing morning, the Dow plunged as many as 1,700 points shortly after trading began, following even worse losses worldwide on worries that Trump’s tariffs could torpedo the global economy.
But it suddenly surged to a leap of nearly 900 points.
The S&P 500 went from a loss of 4.7% to a gain of 3.4%, which would have been its biggest jump in years.
The sudden rise for stocks followed a false rumor that Trump was considering a 90-day pause on his tariffs, one that a White House account on X quickly labeled as “fake news.” Stocks then turned back down.
That a rumor could move trillions of dollars’ worth of investments shows how much investors are hoping to see signs that Trump may let up on his stiff tariffs, which have started a global trade war.
"All of this points to the fact that the uncertainty is only mounting," said Boak.
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