The White House denies ’90-day tariff pause’; CATL responds to NIO Energy acquisition…
April 8, 2025
The White House has refuted claims of a “90-day pause on tariffs,” stating that the news is false. This clarification comes after rumors circulated online regarding a potential pause in the U.S. tariff policy, possibly stemming from an interview with White House economic advisor Kevin Hassett. While Hassett did not confirm the rumors, he stated, “The president will make the decisions he needs to make.” High-profile hedge fund manager Bill Ackman had previously urged President Trump to delay the implementation of tariffs for 90 days. Following the spread of this rumor, the Nasdaq index initially bounced back from a 5% drop to rise over 4%, and the S&P index increased by more than 3%. However, after White House Press Secretary Caroline Levitt labeled the news as “fake,” U.S. stocks reversed course and fell, leading to significant market volatility.
Alibaba International launches large-scale campus recruitment, 80% for AI positions
Alibaba International is actively recruiting AI talent, with 80% of positions for the upcoming 2026 campus recruitment focused on AI roles, including AI algorithms, research and development, and AI product management. As part of Alibaba’s overseas e-commerce business group, Alibaba International has launched the AI search engine Accio in the foreign trade sector over the past year. Furthermore, through initiatives like AI Agent, platforms such as AliExpress, Lazada, and Daraz have been upgraded, resulting in a hundredfold increase in usage and a corresponding surge in demand for AI professionals.
CATL responds to NIO Energy acquisition rumors
On April 7, reports emerged that CATL is in talks with NIO to acquire a controlling stake in NIO’s battery swapping business, NIO Energy, which operates over 3,000 battery swap stations. In response, a CATL representative stated, “There is no further public information available at this time.” NIO has not yet provided a comment.
The Federal Reserve to hold a closed-door meeting on April 7
According to the Federal Reserve’s official website, the Fed will hold a closed-door meeting at 11:30 AM ET on April 7 to review and determine the advance and discount rates charged by Federal Reserve Banks. This meeting comes at a time when President Trump’s tariff policy has led to significant adjustments in the U.S. stock market. The market has already factored in expectations for five interest rate cuts from the Fed this year, with swaps indicating a 40% probability of an emergency rate cut next week.
Travel during the Qingming Festival sees 126 million domestic trips
During the Qingming Festival in 2025, various activities honoring martyrs and traditional cultural events took place across the country, contributing to a stable and orderly national cultural and tourism market. According to estimates from the Ministry of Culture and Tourism, approximately 126 million domestic trips were made during the three-day holiday, marking a 6.3% increase year-on-year, with total domestic tourism expenditure reaching 57.549 billion yuan, a 6.7% increase from the previous year.
Microsoft denies rumors of halting operations in China
Microsoft China has officially addressed rumors regarding the company’s cessation of operations in China. The statement clarifies, “Reports suggesting that Microsoft will stop operations in China are inaccurate. Any inquiries regarding Wicresoft’s business and operations should be directed to them.”
Beijing aims to establish at least 60 high-growth enterprises in Xiong’an this year
On April 7, the Beijing Municipal Development and Reform Commission announced that the Beijing Municipal Finance Committee recently reviewed and approved the “2025 Action Plan for Further Promoting High-Quality Development in the Capital,” which includes 27 measures and outlines 157 key tasks. Among these, the goal is to establish no fewer than 60 high-growth enterprises in the Xiong’an New Area’s Zhongguancun Science and Technology Park this year.
Goldman Sachs estimates Amazon’s 1P business could lose $10 billion annually
Goldman Sachs published a report analyzing the potential financial impact of the reciprocal tariff policy announced by President Trump on April 2 on Amazon’s first-party (1P) e-commerce business. Considering various factors, Goldman Sachs estimates that tariffs could affect Amazon’s annualized EBIT by $5-10 billion.
