CNBC Business News Update - Market Close: Stocks Mixed, China-US Tariff Standoff, Tariff Surcharges Showing Up In E-tailer Shopping Carts 4/28/25

Episode Date: April 28, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jessica Ettinger.

I'm Jessica Edinger, CNBC. Wall Street opens Tuesday morning after a mixed day for stocks. The S&P 500 index on pace for a losing month of April. The Dow on Monday was up 114 points, turning around from a 200-point loss to finish in the green. It was up a third of a percent, led higher by shares of Boeing, which were up 2.5 percent The S&P 500 index eked out a gain up three points the Nasdaq in the red down 16 and video shares fell more than 2% on Monday Netflix one of only a handful of companies that hit a fresh record high Monday. I think it's gonna remain choppy I think the trade issue is still going to hang over the market through early July. And certainly the issue with regards to China and what that implies about price inflation in the United States and empty shelves and

stores. So I think at this point is that choppy is probably the way to describe it. Yardenne researches Ed Yardenne on CNBC. President Donald Trump's first 100 days in office are on pace to be the worst for a president's start of a four-year term since Nixon in the 1970s. Between Inauguration Day and Monday's close, the S&P 500 index down 8.2%. The 100-day measure will end with market close Tuesday.

Investors are waiting for movement on tariffs. The Treasury Secretary told CNBC the ball's in China's court. I believe that it's up to China to de-escalate because they sell five times more to us than we sell to them. And so these 125, 145 percent tariffs are unsustainable. Treasury Secretary Scott Besant on CNBC. But here's CNBC's Sarah Eisen talking with the former commerce undersecretary for international trade in the Obama White House.

Is it up to China to come to the table? You know, it can't be. We kind of started this war, and they just are going to be able to absorb so much more pain than we will be in this process. Why?

First of all, they really do have an authoritarian regime. President Xi isn't coming up for reelection. They culturally think in we will be in this process. Why? First of all, they really do have an authoritarian regime. President Xi isn't coming up for re-election. They culturally think in multi-generational timeframes, not two-year election cycles. Even if the president is right and this is a way to reshore domestic manufacturing, are we going to have the patience to get there and wait them out? And my fear is, frankly, China is going to be much more patient than we're gonna be capable of being

when U.S. consumers find the shelves empty and prices going up. Bridge Park advisor Stefan Selleck on CNBC. Agriculture not nearing a trade war tariff crisis. It's in full blown crisis already, farmers are telling CNBC. American farmers say they're being punished by the Trump tariffs, especially as China stops buying hay straw, pork and lumber. Chinese e-tailer Taimu's adding import charges of about 145% now after the

Trump tariffs, more than doubling the price of some of the items it sells in the US. A CNBC analysis found a summer dress sold on TAMU for $18.47 now costs more than $44 after import surcharges. People are posting on social media about tariff surcharge lines on receipts and in their checkout carts when they're shopping online. This here is one of the first examples of a tariff surcharge getting added to a checkout cart. We knew that these tariff costs were not going to get paid by other countries and they were not going to get paid by the companies. They were going to pass these charges on to us and sure as s*** there it is.

That's Cheyenne Hunt, C-A on TikTok, Chinese fast fashion e-tailer, Sheehan also adding surcharges. On Tuesday's watch list, earnings are coming from GM, UPS, Pfizer, Visa and Coca-Cola and we get the latest on home prices and consumer confidence. Jessica Edinger, CNBC.