seven. news starts right now. >> tariff confusion. on the day they were set to go into effect.

president trump pulls back tariffs except against china. good afternoon i'm kristen z. let's take a look at the closing board for you. the dow jones shot up more than 2000 points within minutes today after president trump announced a 90 day pause on certain tariffs. now the pause does not apply to china, which the president says is now ago, the president announced sweeping tariffs on imports from more than 80 countries in a rose garden ceremony dubbed liberation day. today, he's paused those tariffs on all but one trading partner. christiane cordero joins us with the very latest live now christiane. >> hey there. kristen, great to be with you this afternoon. so that liberation day speech from the rose garden, right, that sent the markets into volatility over the past week. and today it was a social media post that changed that. after one week of

stocks falling with trillions of dollars lost because of president trump's sweeping tariffs against trading partners. today, a social media post reversed course. the dow closing up almost 3000 points following trump's announcement that he will pause tariffs for 90 days as he negotiates with various countries. >> i thought that people were jumping a little bit out of line. they were getting yippy, you know, they were getting a little bit yippy, a little bit afraid. >> one country is exempt from trump's 90 day pause china. china today announced retaliatory 84% tariffs in response to trump's 104% levy on goods imported from china. trump punching back, raising that to 125%. >> last year, china made $1 trillion off trade with the united states. that's not right. and now i've reversed. >> it on capitol hill. some republican members of congress have said they appreciate the

president addressing long standing trade deficits, but are concerned about the escalating trade war. >> when we get into a trade war, usually the first pawn in the trade war is agriculture. >> fifth generation farmer ryan mckinney worries about what a disruption to demand would mean for his minnesota soybean farm. the state's soybean growers association says around 1 in 4 rows here are sent to china. >> wondering what tomorrow is going to bring to make ends meet in times like these. i mean, we're already below cost of production on soybeans. >> now. the tariffs that stand are still expected to drive prices up in the coming weeks. one example, the latest iphone is expected to increase in price by at least $600. kristen. >> christiane. so now we've got this pause for just about every country except for china, right, on those additional tariffs. but any indication what's going to happen next in terms of policy or steps regarding those tariffs. >> yeah, it's a it's a really good question. of course we've seen how president trump can react and how the market reacts

on top of that. so the short answer is no. but what the white house is saying is that they're going to use this next 90 days to negotiate with the countries that they say have expressed interest in negotiating. and whether that's a good thing or not, of course, depends on who you ask, right. on one hand, there are some republicans and supporters who say that this would allow us to get a quote unquote better deal right, and address the trade deficit. but in president trump's, you know, promise to revitalize american manufacturing, that doesn't quite get us there. so we'll see. is the short answer right. >> any revitalization of manufacturing could take years. so, christiane, thank you so much. president walk back today spurred a massive turnaround on wall street. though the positive shift was widespread. nearly every single company in the s&p 500 rose after falling for days and weeks, according to data from factset. the dow closed up

nearly 8%, a gain of more than 2900 points. the nasdaq soared more than 12%, its best day since 2001 and second best in its history. the s&p 500 added more than 9%, its best day since 2008. stay with abc seven news as we continue to follow the very latest on the impact of president trump's tariff war, from the stock market to your bank account and 401 k. we're following the story every day on air. you can also head to our website, abc seven news.com. there's developing news in the trump administration's ongoing battle over deporting venezuelan migrants. two federal judges are blocking the attempts to deport those migrants to el salvador. in one case, a manhattan judge is temporarily blocking the deportation of any alleged venezuelan gang member detained in new york. the order demands that people must first receive notice and be given the opportunity for a hearing. in another case in texas, a judge is temporarily barring the u.s. from invoking the alien enemies

act to deport venezuelans. the judge said the act is meant to be used as a military authority, not during times of peace. against a gang. president trump has called for an expansion of shipbuilding in the u.s, something he says could contribute to manufacturing and our economic power. efforts are underway to make the bay area a hub to answer that call and revitalize the shipbuilding industry. today, the bay area council announced its support for plans to build a massive shipbuilding and maritime industry center in solano county. a private developer called california forever laid out the plans. it's the same developer that aims to build an 18,000 acre city from scratch in solano county. now to your voice, your vote. seven candidates are vying for the seat held by former san jose city council member omar torres. this is district three, which represents downtown san jose. torres resigned late last year after being arrested and charged for alleged sex crimes against a minor. and yesterday, san jose

voters headed to the polls to replace him. and here are the early results for you. gabby chavez lopez is in the lead with nearly 30% of the vote. matthew quevedo is second with more than 22%. anthony trujillo's has just over 20%. irene smith has 17%, followed by adam duran, tyrone wade and philip dolan. as you saw, no candidate has achieved that 50% yet. that means residents will likely be required to vote in a runoff election in june, where the top two candidates will face off. a new round of results will be announced at 5 p.m, also in the south bay today. san jose is celebrating a major milestone in the city's clean water and sustainability initiatives. city leaders held a ribbon cutting for their first major green stormwater infrastructure. it's called the riverview stormwater garden. it's meant to combine natural stormwater treatment with existing flood control measures. >> what this will treat is 120

acre feet of water per year, 40 million gallons of water a year will get treated before it goes into the river. >> the city says it's expected to enhance water quality, reduce pollution and maintain essential flood control measures. also in the south bay, there's a new neighborhood, bay or neighborhood in the city of santa clara. the clara district. it's located on calle del sol and includes thousands of apartment units and a new public park. developers are selling the clara district as a walkable neighborhood with levi stadium nearby. they say the development includes thousands of units of market rate, senior and affordable housing. city officials and developers today talked about the space's potential for retail and entertainment opportunities. >> by bringing new housing, businesses, retail and public parks and green open spaces. the clara district is going to generate jobs, support small businesses and strengthen santa clara's local economy. this clara district is set to grow

into a vibrant destination that enriches our community. >> we're told it took a decade of planning to pull off this transformation. tariffs taking a toll on wall street and the next big impact could be on your bottom line. cnet's consumer insights editor will be joining us live with a look at what we should buy now, you know, before prices go up and what we could wait on. and let's head live outside. we're enjoying a bright, warm day. spencer will let us know how long our above average temperatures i bought the team! i put it on my chase freedom unlimited card. and i'm gonna cashback on a few other things too... starting with the sound system! curry from deep. that's caaaaaaaaash.

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pause on additional tariffs against every country except china. that's not easing up the

pressure on consumers to buy now. a cnet survey shows 38% of shoppers have felt pressured to make purchases before tariffs raise prices. and 1 in 10 shoppers made big ticket purchases recently to try to avoid price jumps. joining us live now to talk more about the squeeze on consumers is danielle milden, cnet's consumer insights editor. thanks for your time today. >> thank you for having me. >> yeah, i mean, this is really interesting. you guys did a survey and it showed pretty strongly that americans are feeling the pressure to buy to try to beat the clock. is that right? >> yeah. so this survey was actually conducted in march and that was before. we've seen a lot of the news, even the news that was released today. so the one thing that i want to point out here is that they were feeling the pressure to buy. then we definitely should expect that tariffs are going to impact wallets. and as we see more of those tariffs potentially being implemented and seeing what that does to prices, such as even on electronics, that we should

really be mindful on the purchases that we're making, especially the bigger ticket purchases. >> okay. yeah. so what do you mean by that? which items are most in demand like that? you've seen flying off the shelves? >> the two the two items that people are more concerned about are smartphones and laptops and both of those. when we really start thinking about how they are made, a lot of those products do or excuse me, the parts do come from other areas. so we have to think about the fact that even with an apple iphone, that that's not fully manufactured here in the us as parts do, part of those parts do come from china. so we have to think about the fact that the importer is going to pay more. and as a ripple effect, usually the consumer pays more when the importer does. so definitely looking at what that means in terms of the impact on your wallet, is now the time to delay that big purchase. and that's where a lot of us adults are seeing that concern. that points from the survey that, yes, this is a big concern when you think about paying more from those tariffs. >> so when you're deciding, do i

buy now to beat the price increase potentially later or do i wait what what are the considerations and factors to weigh. >> the most important factor is did you already plan to buy it. do you have the money for it right now? have you already been in the market for that new phone, or is it really a panic purchase? if it's a panic purchase, ask yourself if you can hold on to that device a little bit longer. can you consider maybe making smaller changes to hold on to that device so you're not paying for something outright? can you go with refurbished tech to where you're paying a percentage, instead of paying maybe the full price for a newer model? can you settle for a later model instead? more importantly, aside from just seeing if it's something that you already had planned, are you going to go into debt over this purchase? so we talk a lot about tariffs and how tariffs can seem to raise the cost. but let's not forget that if we're financing this purchase that we can't come in full right away. there could be the impact of interest, which could also impact on top of tariffs. so it can be an even

more expensive purchase than you originally, you know, planned for. >> yeah. and what is your view on people buying, you know, putting it on their credit card, but then just paying the interest off, knowing that they can't really pay it out outright. >> it's a dangerous, slippery slope, especially when you start talking about electronics. let's say that the iphone really does go up $600 or even more. what that really looks like when you start adding on very high credit card interest rates, or even just thinking about the additional cost that you're going to pay overall, it's not worth it to your finances. my recommendation? see if you can find something a little less expensive. go with that refurbished tech that comes with a really solid warranty and return policy. or just wait. it's electronics. they typically last for a while, see what upgrades you can make that are a little bit more affordable. >> does your survey say anything else about changes in people's buying patterns or habits? perhaps. are people shopping

sales more. >> people are shopping sales more. they're also looking into making more adjustments to their budgets. so even thinking beyond electronics, what changes they can make so that they can prepare for the potential financial impact that could come from tariffs. >> what are people giving up on? >> well, the survey did not directly go into what people are giving up on. we do know that people are letting a little bit go on the non-essential spending, so not spending as much there. when you think about dining out, traveling, a lot of those leisure activities, people aren't really spending on those as much so that they can adjust their budget and their spending appropriately for where we are right now. another thing is people are when we look at just how people are even going for their for their tax refunds, what that means a lot of people are actually paying down bills and they're really saving more money. so what that tells us from both of those surveys is that people are prioritizing their financial needs right now, and they're delaying these

bigger purchases so that they can prepare for what we really don't know is going to come later, but they want to make sure they're prepared for it now. >> you are right about the non-essentials. i've already heard from a restaurant owner in the bay area today that, you know, bookings are down, and i've seen that from airfares or airline bookings. so that is certainly true. but let me ask you, in terms of the trade war, right. let's say we have right now anyway, who knows what's going to happen next week. we have this 90 day pause on additional tariffs with other countries, but with china it's now up to 125%. so you know things that we import from there get that you're paying more than double than what it would have been before if, you know, the business passed it along to you. so let me ask you, what are the items that we can only get from china? and are there other countries that can kind of step in at this point to supply all those things? and are we going to be okay with that? >> well, i don't have a full list on items that we can only get from china. my recommendation is if you do believe, let's say it's toys or even electronics, two of the items that typically do come or

have parts that are manufactured from china. my recommendation is if you're concerned about that price, definitely see if you can find alternatives. this is a really good time to see if you can shop small businesses. local businesses explore other ways, even to get around some of those higher costs. if this does keep up in terms of the tariffs going up, you can expect to pay more on those items from china. that being said, it's typically around electronics, smartphones and laptops, even tablets being some that we should be concerned about. if that's the case, definitely want to make sure that you're shopping around, see if you can find alternatives, and going back to seeing if you can hold on to your tech a little bit longer. we're unsure of what's next and what the wait and see game will be here. so as much as you can hold out on making those purchases, the better. >> are you talking to a woman who's still using an iphone 14? so i heed that advice. use it for you know, as long as you can until broken and can't be used anymore. thank you so much for joining us. joshua mauldin cnet consumer insights editor. really

appreciate it. >> thank you for having me. >> i'm spencer christian. are you ready for more warm weather? that's what's coming our way. i'll have the accuweather forecast seven day forecast in just a moment you started your business to spend time on the things you love. not banking. that's why we offer business checking, payments and lending all in one place.

(vo) at wells fargo, we get it. you started your business to spend time on the things you love. not banking. that's why we offer business checking, payments and lending all in one place. an adventure. i mean, we got above average temperatures. the only question i got for you, my friend, is how long is this going to last? >> it's going to last through the seven day forecast period. kristen, we've got a long string of nice, sunny, mild to warm days coming our way. not only does it feel a lot like spring, it feels almost like summer in some locations today. here's a look at the satellite radar composite image. and we still have pretty much the same pattern we showed you yesterday. with high pressure building in strongly. and that's the dominant influence in our weather right now, bringing us clear skies and warmer than average temperature range. all the clouds and disturbances of

the out of the pacific are flowing well to our north. so right now we're looking at gentle breezes. it's not very gusty, except at half moon bay, where we have gusts up to 22mph. but we'll call this breezy but gentle breezes, generally eight to about 12mph across the region. and check out the 24 hour temperature change. yesterday was a pretty mild. today it's even warmer today by 11 degrees in hayward by ten degrees over livermore, nine degrees warmer than at this time yesterday at oakland. so all around the bay area we have had a significant warm up under bright blue sky in every direction that you look. so right now, 68 degrees in san francisco, oakland, 7377. hayward 75, in san jose, redwood city, 7659 at half moon bay. the coast is not warming up at the same pace as the remainder of the bay area. looking at blue sky over the golden gate right now. 78 degrees in santa rosa, petaluma 7274 napa 80, in fairfield. it will probably get up to 81 or 82 there before the day is over. upper 70s right now at concord and livermore, and

those locations will continue warming as well, as we haven't yet reached the peak of our afternoon warming. so these are our forecast headlines as we look out over the bay from mount tam. remainder of the week. next two days, above average warmth continues into the weekend. more mild and sunny days coming our way, and the extended outlook calls for this dry, mild pattern continuing so we don't see any rain in sight for at least the next seven days, which is the forecast period. overnight, we'll see a few high clouds moving by, maybe some sprinkles approaching the coastline, little patches of drizzle. we don't expect any of this to actually move onshore, but it's certainly possible with the active pattern of sprinkles out there that a couple of drizzly patches could move onshore in the early morning hours. but basically, we'll start the day tomorrow with bright skies and just a few high clouds, and it will get sunnier as we get later into the day. overnight lows will be generally in the upper 40s in our inland valleys, up to down to, i should say, about 50 around the bay shoreline. tomorrow's high 61. half moon bay 66. here in the city. around

the bay. shoreline. oakland, fremont, san jose, san mateo. rather. we'll see. low 70s, 72 to 73 degrees down in san jose, a high of 74 tomorrow. the inland east bay upper 70s 78 antioch 77 at concord, and a similar range up in the north bay. and here's the accuweather seven day forecast. so temperatures will be about the same the next two days. bright and breezy on friday, so it may cool down a little bit at the coast. breezy and even cooler by about two degrees on saturday. that's not a big cool down, but look at the temperatures bouncing back over the weekend. low 80s inland sunday and monday, mid to upper 70s around the bay shoreline sunday and monday and mid 60s on the coast and even going into the middle of next week. not much of a cooldown. temperatures will just settle back down into pretty much the average range for this time of the year. >> kristen spencer, thank you so much. we are just going to enjoy this as long as we can. and speaking of enjoying the weather and being out just a short time ago, san francisco's newest park got a name. during a special meeting this afternoon, the

city's recreation and park commission named the great highway park sunset dunes. that's the one i picked. it was selected after the public picked their top three choices from a pool of 15. sunset dunes park is set to open saturday. it is controversial, though, because while 54% of san francisco voters approve the park right through measure k. those living near the road. the residents are actually hating it, and they're legally fighting it. they say nearby streets were not equipped to handle the increase in traffic that's resulted from this. all right. ahead, assessing the economic impact of wall street's instability, experts weigh in on the best way

wild swings from day to day. reporter karin caifa is in washington with a look at what the market volatility means for everyone. >> president donald trump's sweeping tariff plan has unleashed turmoil in the stock market. >> if you're like me, i am a first generation in the stock market. so to see these type of drops is heartbreaking and very scary. and we need to acknowledge that and say it's okay that you're scared. >> when investors believe in a company's ability to deliver on the goods and services they've promised and consumer demand for them, that company stock often becomes more desirable and pushes a company's value higher. losses across the 30 diverse companies that compose the closely watched dow, from apple to mcdonald's to walmart, mean investors are anxious about what broad tariffs and a global trade war mean for the future. >> the longer this lasts, the more of an economic drag it is with uncertainty, both by the consumer, investor and certainly people that run companies. and

the longer that lasts, the more real economic damage we're doing. >> when a company stock goes down, they can eventually be challenged to make decisions about infrastructure like hiring and the number of people they can continue to employ. they may also hike prices to cover costs, which can also squeeze consumers. and for those lamenting retirement losses as the market has turned down, experts say it's important to look forward, not back, and stay on top of that money. >> what's really important to you, always, whether you're taking a loss or not, is what will do well ahead. >> in washington, i'm karin caifa. >> three local fedex shipping centers will permanently close in june. the company announced employees are being laid off at locations in san rafael, emeryville and oakland. thersn's could be affected in san rafael. some team members will be offered opportunities at other locations. the company said in a statement. decisions of this nature are the result of much thought and consideration for maintaining the high level of service expected from our customers and other needs of our

business. happening today. single game tickets for the golden state valkyrie's 2025 season are going on sale. ticket sales for the general public start at 5 p.m. the valkyries will tip off their highly anticipated season on may 16th at chase center. that game starts at 7 p.m, where they will face off against the sparks. remember, abc seven news is streaming 24 over seven. get the abc seven bay area app and join us whenever you want, wherever you are. and that's going to do it for now. thanks so much for joining us today. world news tonight with david muir starts right now. and i'll see you back here at 4:00. tonight, several breaking stories as we come on the air. president trump resources