Apr 24, 2025 (Baystreet.ca via COMTEX) --
Stock markets followed through in mid-week trade. Instead of selling off Tesla (TSLA) in response to its revenue drop, TSLA stock became a rallying point by rising 5.37%. The Dow Jones, Nasdaq (QQQ), and S&P 500 (SPY) closed higher. The usual suspects in technology - Apple (AAPL), Nvidia (NVDA), Meta Platforms (META), and Amazon (AMZN) - bolstered stock markets.
U.S. Backs Down on Trade Threats
Markets reacted positively to Treasury Secretary Scott Bessent's comments on Wednesday. He said that the high tariffs against China are not sustainable. De-escalating the trade war is the next step in avoiding a global recession. Still, trade tensions against Southeast Asia continued. The U.S. Commerce Department announced a tariff of up to 3,521% on solar panel imports the day before. The U.S. viewed Cambodia, Thailand, Malaysia, and Vietnam as countervailing and anti-dumping duty activities.
Investors might speculate that the U.S. will cut its tariffs on China down to around 50%. That might help exports from China re-start. Until then, small-business sellers on platforms run by Alibaba (BABA) and PDD (PDD) will worsen.
Relief for Automobile Firms
President Trump may consider giving exceptions to automakers. This would be separate from the 25% tariffs on imported vehicles and imported auto parts. Those tariffs will start on May 3.
The White House is under pressure from automobile firms and automotive policy groups. They are pressing the government for tariff relief.
COMTEX_464868205/2559/2025-04-24T05:42:56
