NBC Nightly News with Tom Llamas - Wednesday, April 7, 2025

Episode Date: April 10, 2025

Stocks surge after Trump’s tariff pause; How 125% tariff on Chinese products will affect American shoppers; Dramatic Travel Decline amid global uncertainty; and more on tonight’s broadcast.

Tonight, the stock market skyrockets as President Trump hits pause on his global trade war. The celebrations on Wall Street as markets make some of their biggest one-day jumps ever. The rally set off when President Trump suspended most of his biggest tariffs. Apple, Walmart, and Amazon, just some of the companies, bouncing back, not backing down on China. The president going harder at America's biggest trading partner, raising their tariffs even higher. What it means for the prices you pay for everything from toys to clothing to electronics.

The desperate search for survivors of that nightclub collapse in the Dominican Republic as the death toll soars to more than 100. And now word that the family of former baseball star Pedro Martinez missing there as well. Brian Koberger in court. The two words now banned from the murder case of those four University of Idaho students. Breaking her silence, former first lady Michelle Obama speaks out for the first time on the rumors about her marriage, why she says she sometimes does her own thing. Close call the video of a massive tree toppling onto a car as it comes to a stop, how the driver got out with barely a scratch. And air travel

slowdown. The major airline CEO saying domestic air travel is stalling. So will your next plane ticket be cheaper? This is NBC Nightly News with Lester Holt. And good evening. I'm Tom Yamas in for Lester. We begin tonight with the stocks surging on Wall Street, fueling one of the biggest one-day spikes ever. If President Trump's trade war sent stocks plunging, today his temporary ceasefire sent them skyrocketing. This was how traders reacted when markets closed.

President Trump announcing that he's pausing most tariffs on most countries for 90 days, but he's hitting China with more tariffs now at 125 percent. The world and Wall Street watching it all. Look at this. This is the moment the president announced that pause. The Dow in just minutes jumping more than 6 percent. At the close, all three major indices finished way up, with the Nasdaq up an astonishing 12 percent. But it's not all good news. That huge rebound still leaves the markets well below where they were in February. And there are big questions hanging over all of this. Will these 90-day pauses become permanent? And just how high will prices go for consumers here in the U.S. as those growing tariffs on China begin today? We have our team

covering every angle of this tonight, and we begin with Garrett Haig at the White House with new reporting just in. Tonight, an abrupt reversal from President Trump on tariffs, sending stocks soaring. I think it probably came together early this morning. It was written from the heart. We don't want to hurt countries that don't need to be hurt, and they all want to negotiate. At 1.18 p.m., the president posting he would pause virtually all of his new global tariffs for 90 days. Within minutes, Dow stocks soared more than 2,000 points, closing up nearly 3,000.

The president saying 75 countries that reached out to negotiate lower U.S. tariffs would be rewarded with that three-month pause to work out individual trade deals. Their baseline tariff reduced to 10 percent. They will be fair deals for everybody, but they weren't fair to the United States. They were sucking us dry, and you can't do that. But the president also announcing imports from China would be slapped with an even higher 125 percent tariff after China raised tariffs on American products from 34 to 84 percent. The president blasting China for retaliating instead of negotiating. NBC's Janice Mackey-Frayer is in Beijing. At this point, China's government has made it clear it's not interested in negotiation, saying they have both the will and abundant means to fight a trade war with the U.S.

Currently, American businesses sell just $143 billion worth of goods to China, while China sells $438 billion of products to the U.S., a record $295 billion trade deficit. The White House blames China's high tariffs and trade barriers on American products, saying Trump's new tariffs level that playing field. China wants to make a deal. They just don't know how quite to go about it. Meanwhile, the president's move came after prominent business leaders, including JPMorgan Chase CEO Jamie Dimon, warned the tariff turmoil could spark a recession. I am going to defer to my economy at this point, but I think probably that's a likely outcome. Tonight, Republicans praising the focus on China.

This is a big win for Trump and it's a big win for America. While Democrats blasted the president's sudden shifts. This chaos seems to be just a game for Donald Trump, but it is really real, very real for people's lives, people's livelihoods. And Garrett joins us now live. Garrett, I know you have some new reporting on that turmoil on Wall Street and how it played a role in the president's move today. Yeah, Tom, the president said he noticed people getting, quote, a little queasy about the bond markets overnight. And now a senior administration official tells us that both his treasury and

commerce secretaries presented a united front today, urging him to pause the tariffs over concerns about those markets. Well, the president also very much likes the idea of negotiating country by country trade deals. Tom. All right, Garrett Haake leading us off tonight. Garrett, we thank you. There's a lot to work through here, right? So let's bring in NBC News senior business correspondent Christine Romans to break it all down for us. Christine, good evening.

You know, Tom, it is rare to have a one- day move this big. Markets recently beaten down hard by tariffs, but today reversing more than half of those losses. Best one day gains in years. Apple jumping 15 percent, the biggest rally since 1998. Nvidia almost 19 percent. Walmart almost 10 percent. Investors relieved for today. Goldman Sachs withdrawing its recession forecast. But consumers still facing higher prices from steep tariffs on China and small businesses wondering just where things will stand in 90 days. Small businesses and regular investors for people who have 401ks. What's the advice? You know, it's important to remember here that there could be volatile days ahead. If you're close to retirement, make sure you can stomach the risk you're taking in the stock market.

Pay down your high interest debt. Pad your rainy day fund. For buy and hold investors, remember, historically, stocks do rise over time, but not without rocky patches just like this one, case in point. All right. Always great advice, Christine. We thank you for that. That new 125 percent tariff on China is expected to make everything from clothing to electronics to furniture even more expensive here in the U.S. Brian Chung now on the prices you may soon be paying. As President Trump dialed down the temperature on tariffs around the world, the trade spat with China heated up, with the president announcing that 125 percent tariff. I told him if you retaliate, we're going to double it. And that's what I did with China

because they did retaliate. The CEO of Basic Fun, which makes Tonka trucks and Care Bears products, said when the president proposed a 54 percent tariff rate on China, he knew he would have to raise prices. But now you might as well just make it a billion percent because we're not shipping anything out of China. Nobody's going to be shipping anything out of China until this gets solved. He warns what happens now will have impacts months down the line. If you're stopping production, does this imply that you might not have stuff on the shelves for key holiday season? Well, they're likely in particular with toys be a shortage of toys this Christmas. I mean, even a short term disruption will will upset the flow of goods. But we still have time. It's not just toys. Americans are surrounded by Chinese-made products, which could get more expensive.

A lot of the cheap goods sold at places like Walmart and Amazon are made in China. Walking down the block, you'll see it. So many American brands selling products coming from China, like Nike, where 18% of their footwear and 16% of their apparel are made there. Even this glasses company, which assembles some of its glasses in the United States, uses materials and manufactures in China. Some auto parts already more expensive. There was one part that was around $280. And then two days later, the cost went up to like $328.

And of course, it was an overseas part that was manufactured in China. President Trump also closed the loophole that allowed cheap goods from companies like Temu and Xi'an to avoid tariffs. So those prices also likely to go up. The concern that even as the world negotiates, China and the U.S., the two largest economies, are drifting apart. The harm that's being caused is really catastrophic. And please make a deal quickly. There's a deal to be done. And let's go back to business as usual. All right, Brian joins us in studio. So, Brian, the big question tonight, when should consumers expect those prices to go up?

Tom, the president posted on Truth Social saying that that 125 percent tariff is effective immediately, meaning that those things like electronics, clothes, shoes could get more expensive in the coming months. And by the way, China has yet to respond to this, Tom. All right, Brian, we thank you for that. We do want to turn now to that big story, the desperate race to find survivors of that nightclub roof collapse in the Dominican Republic. More than 120 people killed, including former baseball stars. Tonight, we're learning about a story of how one former pro saved another. Aaron McLaughlin's on the ground there tonight. Today in Santo Domingo, a race to find survivors.

The community gathered as cranes lifted what's left of the club, piece by piece, each chunk of concrete bringing hope and fear to Wilson Casado and his family. They believe Casado's cousin, nephew, and his nephew's pregnant wife were inside the club. They've been here since yesterday morning. How long are you going to wait? Until it's necessary, he says.

The Casados have faith their loved ones could still be alive. That's certainly true for this crowd outside the club's main entrance. I'm keeping my voice very low because they don't want to miss any sound made by a potential survivor. Authorities now say at least 124 people have died. Major General Manuel Mendez is the director of emergency operations. He tells us they believe many died instantly. Among those killed, merengue singer Ruby Perez, who was on stage at the popular Jet Set nightclub in the early morning hours on Tuesday when the entire structure pancaked. Also killed a restaurant owner from Massachusetts and two former MLB players, including Tony Blanco, who that night

reportedly saved the life of another MLB alum, Esteban German. German told a local reporter he was at the club when Blanco pushed him out of the way, saving him from a piece of the falling roof. Former MLB superstar Pedro Martinez is impacted too. I still have family members that are still in the rubbles. Mendez says officials are no closer to understanding why it happened. Jet Set says it's cooperating with the investigation. Officials say they've rescued 155 survivors. But so far for today, only bodies have been recovered

as the nation mourns lives lost and praised. And with that, Erin McLaughlin joins us tonight live from Santo Domingo. Erin, those rescue teams behind you, they're getting close to making a tough decision tonight. That's right, Tom. Late today, officials said they believe they've located more bodies buried beneath the rubble. And once they recover those bodies, they say the rescue mission will be over. Tom. Okay, Erin McLaughlin live on the scene for us.

Erin, we appreciate that. Back in this country, the man accused of the brutal murders of four University of Idaho students was in court today. His attorneys argue critical evidence, including a 911 call and his Amazon purchases, should be thrown out of the case. Liz Kreutz is following that verse. Tonight, Brian Koburger, the man accused of killing four University of Idaho students, back in court. His attorneys sparring with prosecutors over what evidence should be allowed at trial. These murders, whoever committed them, were brutal. The judge signaling a decision on many of the requests, but ruling that prosecutors can't label Koburger a psychopath or sociopath,

and that they also can't use Koburger's autism diagnosis to argue for a harsher punishment. Neither things prosecutors say they plan to do. If we get to a penalty phase, we have a lot better aggravating evidence than the fact that he has level one autism. Koberger's lawyers say he has maintained his innocence since he was arrested in 2022 and charged in the murders of Ethan Chapin, Zanna Cronodal, Kaylee Gonsalves, and Madison Mogan, who were found fatally stabbed in their off-campus home. Tonight, his attorneys arguing text messages from surviving roommates, their 911 call, and his alleged Amazon purchases, including a mask and a knife and knife sheath,

should be excluded from trial, as well as this selfie Koberger allegedly took hours after the murders and the phrase bushy eyebrows, a term used by one of the surviving roommates to describe the man she saw inside the home. The state's interpretation is that Mr. Koberger's photo shows bushy eyebrows. That is misleading to the jury. The judge granting the defense's request to introduce proof of potential alternative perpetrators, but saying they have to do so before trial and also questioning Koberger's alibi that he was driving to see the moon and stars, highlighting the lack of witnesses to back up his claim unless Koberger takes the stand. Liz Kreutz joins us now live. So, Liz, is there a chance Koberger takes the stand?

Yeah, I mean, it's possible, Tom. At this point, it seems unlikely, though, with his attorneys pointing to his autism diagnosis. But we are learning that prosecutors do plan to call some of his family members to testify at his trial in August. Tom. OK, Liz Kreutz with those new developments. Liz, thank you. In 60 seconds, Michelle Obama speaking out tonight, addressing rumors about the state of her marriage for the first time, why she says she's now making her own decisions. We're back now with Michelle Obama responding directly for the first time to those rumors that she and former President Obama's marriage is in trouble. The former first lady speaking out in a new podcast interview. Hallie Jackson has the details.

Former First Lady Michelle Obama tonight blasting rumors her marriage is on the rocks. This year, people were you know, they couldn't even fathom that I was making a choice for myself, that they had to assume that my husband and I are divorcing. On a podcast with TV star Sophia Bush, Obama referencing the tabloid speculation fueled by her notable no-shows at this year's inauguration and at Jimmy Carter's funeral. Without mentioning those events, making clear she's making her own decisions. We start actually finally like going, what am I what am I doing? You know, who am I doing this for? And if it doesn't fit into the sort of stereotype of what people think we should do, then it gets labeled as something negative and horrible. The Obamas, married for 32 years, have been open about some of their relationships' ups and downs.

The former president, just last week. I was in a deep deficit with my wife, so I have been trying to dig myself out of that hole by doing occasionally fun things. These days, the Obamas are working on their joint production company, celebrating holidays like Valentine's Day. With this selfie captioned by Barack Obama, you still take my breath away. And Michelle Obama launching a new podcast with her brother. And after the death of her mother, making what she calls big girl decisions about her life. Now is the time for me to start asking myself these hard questions of who do I who do I truly want to be every day? The former first lady has long been clear on one thing, despite her popularity among Democrats, that she is not interested in a political path

back to the White House. Tom. All right, Hallie, we thank you for that. And we're back in a moment with stunning video, this tree falling and crushing a car on the road. Look at this. Surveillance video capturing the moment a massive tree you see there completely topples and crushes that white SUV. And get this, just moments later, the driver miraculously survived and got out of the car. A witness told NBC Philadelphia the driver did not appear to be seriously injured. That's incredible. Okay, we want to turn now to the travel boom that may be going bust. One airline CEO warning that its high flying projections on air travel are starting to stall. So what's driving the slowdown? Tom Costello has the details. From flight reservations to resorts and restaurants, the travel industry has gone from predicting a record-breaking 2025

to warning of a big slowdown. Before the tariff pause today, the CEO of Delta Airlines said air travel has stalled both leisure and corporate. I think everyone's being prepared for uncertainty. If that continues and we don't get resolution soon, we'll probably end up in a recession. Ed Bastian's warning comes as foreign visitors are canceling trips to the U.S., down nearly 12 percent in March compared to a year ago. Air travel from Mexico down 23 percent. After President Trump slapped Canada with tariffs and suggested it should become America's 51st state, airline bookings from Canada to the U.S. dropped 40 percent. You shouldn't be shocked

that we don't want to spend money down there. Ian Urquhart, a retired Canadian professor, lost $500 when he and his wife canceled a trip to Vegas for a Coldplay concert. We'll be traveling to Mexico instead of to the southern U.S. with respect to sun holidays. If foreign visitors stay away, economists say it could cost U.S. airlines, hotels, rental car companies, resorts billions of dollars. Meanwhile, for Americans planning a summer vacation, Going.com reports domestic and international travelers could see deep discounts. But for many foreign travelers, I'll wait until there's a bit more sensibility in the White House before before we go back there again. Many international travelers emphasize they don't hate America or Americans, but they don't feel as welcome here as they once did. Tom. All right, Tom, we thank you for that. When we come back, there's good news tonight about the two teams who were the best at losing in college baseball.

How when they faced off, they both came away winners. That's next. Welcome back. One team hadn't won a game in three years. The other in two years. But there's good news tonight about what happened when they met up. Two schools on one field. A combined 141 straight losses between them.

The Lehman College Lightning on a 42-game losing streak, the Yeshiva University Maccabees, 99 games straight without a victory. But Tuesday, with their classmates in the stands, the two New York schools showed up and one had to walk away a winner. It was a battle back and forth. Justin Chamorro was on the pitcher's mound for Lehman. You got to be optimistic because when you're in a hole like that, it's hard. It's hard to find the positives. I kept telling my teammates that. Just keep pushing. It's going to happen. By the final inning, Lehman College came out on top.

When you guys won, what was that feeling like? A sense of relief, a sense of joy. When there's a lot of adversity going your way, it's that much sweeter on the other side. With its streak broken, Lehman was riding high. Yeshiva now facing down 100 losses in a row. But they had another chance, a second game against Lehman the very same day. In the final at bat, the Yeshiva University Maccabees were winners. Different folks in sports, cresting a mountain can be great.

Winning a championship for us, winning a game, was that for us. Success doesn't last forever. Neither does failure. Every day you get a new opportunity to show up. Two teams, two hard-earned victories, reminding us all to never give up. And a big congrats to Lehman and Yeshiva University. That's nightly news for this Wednesday. I'm Tom Yams. Have a great night.