

Trump's Tariff Pause Sparks Global Relief Rally
Apr 10, 2025
Chi Lo, Senior Market Strategist at BNP Paribas Asset Management, and Rebecca Walser, President of Walser Wealth Management, dive into the recent surge in global markets as President Trump pauses tariffs, fueling a massive rally. They discuss the implications of increased duties on China, the historic bounce in the S&P 500 and Nasdaq, and the volatility that comes with these shifts. The duo also explores long-term prospects for China's tech sector and the intricate dynamics of ongoing U.S.-China trade negotiations, revealing the delicate balance in this economic landscape.
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Market Volatility
- The U.S. stock market reacted strongly to President Trump's tariff pause, demonstrating high volatility.
- This reaction, like the prior sell-off, likely constitutes market overreaction.
U.S.-China Trade War
- The U.S. and China are engaged in a dangerous trade war with long-term implications.
- The outcome hinges on who can withstand more economic pain, considering factors beyond just trade volumes, like foreign direct investment.
Supporting Chinese Stock Market
- Short-term support for the Chinese stock market can come from currency depreciation and government intervention.
- However, aggressive easing and domestic sector stimulus are crucial for longer-term recovery.