U.S. Stocks Tumble as Trump Threatens Higher Tariffs on China

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 10 October 2025

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Oct. 10. President Trump responded to recent Chinese actions targeting the U.S. by threatening higher tariffs and export controls on China—a move that sent U.S. markets falling. WSJ reporter Jack Pitcher explains the market reaction. Plus, the White House said today that it has begun mass layoffs of federal workers as a result of the government shutdown. And MIT has become the first university to reject a compact sent by the Trump administration last week offering colleges funding advantages. We hear from WSJ reporter Doug Belkin about why the university rejected it, and what it means for other universities faced with a similar proposal. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Boardrooms love buzzwords.
0:02.0	AI, climate, resilience.
0:03.8	But what do they actually mean for CFOs and execs trying to survive the next earnings call?
0:08.3	That's where the pre-read comes in.
0:09.9	Real experts and real talk.
0:11.7	Subscribe to the pre-read, presented by Workieva.
0:18.8	U.S. stocks sink after President Trump renews his tariff threats against China.
0:24.2	Plus, MIT has become the first university to reject a proposal from the Trump administration.
0:29.7	What happens next?
0:30.9	The fact that MIT is first out of the gate and rejected it, I think, is probably a political
0:34.7	problem for the Trump White House. And what they do about it is anybody's guess, but they tend to counterpunch hard.
0:40.4	And Israeli troops retreat as the ceasefire takes hold in Gaza.
0:44.9	It's Friday, October 10th.
0:46.8	I'm Alex O'Slef for the Wall Street Journal.
0:49.2	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:01.9	Trade tensions between the U.S. and China are heating up. Over the past two days, Beijing has
1:08.0	unleashed a barrage of actions that threatened to derail a fragile status
1:11.8	quo with Washington. Yesterday, China announced new restrictions on rare earth materials. China
1:17.9	dominates processing capabilities for rare earths, giving it leverage over the U.S. and other nations.
1:23.5	And then today, China's top market regulator said that it had launched an investigation into Qualcomm,
1:29.1	one of the U.S.'s most important semiconductor companies, for suspected violation of the country's
1:34.1	anti-monopoly law. The regulator said that the probe is tied to Qualcomm's acquisition of
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