Morning Business Report: Trump pauses tariffs for 90 days
In a significant shift in trade policy, President Trump has announced a 90-day pause on tariffs for most countries.
(LILAMAX)- In a significant shift in trade policy, President Trump has announced a 90-day pause on tariffs for most countries, with the exception of China. Tariffs on Chinese imports will be raised to 125%, while reciprocal tariffs for other nations will return to the universal 10% rate.
The announcement led to a remarkable rally on Wall Street. The Dow Jones Industrial Average surged nearly 3,000 points, and the NASDAQ jumped 12%. Retail stocks saw significant gains, with companies like Walmart and Nike benefiting from the tariff pause. Walmart, which imports a wide range of products from overseas, and Nike, which manufactures many of its shoes in China and Vietnam, both saw their stocks rise.
In other news, Weight Watchers is reportedly on the brink of filing for bankruptcy. The company, known for its weight management programs, has struggled to maintain relevance in the face of rising popularity of weight-loss drugs like Novo Nordisk’s Wegovy. These drugs, offering a faster solution to obesity, have led many to shift away from traditional diet and behavior-change programs. In a bid to expand, Weight Watchers acquired the subscription-based telehealth platform Sequence in 2023 to enter the obesity drug prescription market.
Next month, Cinnabon will launch an innovative new store concept in partnership with Carvel. The first-of-its-kind location will offer a mashup of Cinnabon’s signature hot cinnamon rolls and Carvel’s ice cream, creating a unique dessert offering. The head of the company notes that this new concept is aimed at attracting Gen Z and Millennial customers, who are seeking “unique indulgent experiences.”
