THE
ACADIANA
ADVOCATE
T H E A C A D I A N A A D V O C AT E.C O M
|
T h u r s d ay, a p r i l 10, 2025
MARKETS SURGE AS TARIFFS PAUSED
$2.00X
Landry backs bills on auto insurance
Governor calls for ‘balanced approach’ to legislation BY ALYSE PFEIL Staff writer
ASSOCIATED PRESS PHOTOS
President Donald Trump speaks during an event with auto racing champions at the White House on Wednesday.
Trump raises rate on Chinese imports to 125% BY JOSH BOAK Associated Press
WASHINGTON — Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed off his tariffs on most nations for 90 days even as he further jacked up the tax rate on Chinese imports to 125%. It was seemingly an attempt to narrow what had been an unprecedented trade war between the U.S. and most of the world to a showdown between the U.S. and China. The S&P 500 stock index jumped 9.5% after the announcement, but the drama over Trump’s tariffs is far from over as the administration prepares to engage in country-by-country negotiations. In the meantime, countries subject to the pause will now be tariffed at 10%. The president hit pause in the face of intense pressure created by volatile financial markets that had been
pushing Trump to reconsider his tariffs, even as some administration officials insisted his reversal had always been the plan. As stocks and bonds sold off, voters were watching their retirement savings dwindle and businesses warned of worse-than-expected sales and rising prices, all a possible gut punch to a country that sent Trump back to the White House last year on the promise of combating inflation. The global economy appeared to be in open rebellion against Trump’s tariffs as they took effect early Workers on the floor at the New york Wednesday, a signal that the U.S. Stock Exchange watch the action on president was not immune from market pressures. By early after- Wednesday. noon, Trump posted on Truth Social INSIDE that because more than 75 countries had reached out to the U.S. govern- ä Senate Republicans express relief at ment for trade talks and had not re- decision to pause tariffs. Page 4A taliated in meaningful ways, “I have
ä U.S. stocks soar to one of their best ä See TARIFFS, page 4A days in history. Page 10C
SEVEN DAYS OF TRUMP’S TARIFFS AND MARKET UNCERTAINTY APRIL 2
APRIL 3
APRIL 4
President Trump Trump’s previously China announces announces his long- announced auto tariffs plans to impose a promised ‘reciprocal’ begin. Prime Minister 34% tariff on imports tariffs — declaring a Mark Carney says that of all U.S. products 10% baseline tax on Canada will match the beginning April 10, imports across the 25% levies with a tariff matching Trump’s new board starting April 5, on vehicles imported ‘reciprocal’ tariff on as well as higher rates from the U.S. Chinese goods, as part for dozens of nations of a flurry of retaliatory to take effect April 9. measures.
APRIL 5
Trump’s 10% minimum tariff on nearly all countries and territories takes effect.
APRIL 9
Trump’s higher ‘reciprocal’ rates go into effect, hiking taxes on imports from dozens of countries. Hours later, his administration says it will suspend most of these higher rates for 90 days.
Gov. Jeff Landry will back a set of auto insurance bills he says favors neither side in what seems certain to be a clash between two powerful interest groups during the legislative session that begins Monday. “For far too long inside of this very building there has been a battle waged between insurance companies and trial lawyers,” said Landry during a news conference Wednesday at the State Capitol. “Both sides have plenty of blame to go around,” he went on. “Today I’m not here to help any lawyers, and I’m not here to help insurance companies. I’m here to help the citizens of the state.” At issue is the high cost of auto insurance in Louisiana. Landry unveiled several proposals he said are aimed at bringing down rates, calling the measures “a balanced approach that holds both sides accountable.” The legislation he highlighted focuses mainly on how insurance claims are litigated. Insurance companies and many in the business community
ä See INSURANCE, page 5A
Lawmakers push back on education funds request Landry seeking $94 million to fund LA GATOR program BY PATRICK WALL
Staff writer
A battle is brewing between Gov. Jeff Landry and Louisiana lawmakers over education spending. Landry is seeking nearly $94 million for his signature LA GATOR program, which will give families money to pay for private school and other education expenses next school year. The program, which Landry muscled through the Legislature last year, will replace state-funded vouchers that help low-income families afford private tuition. But now a powerful state lawmaker is throwing cold water on Landry’s plan. In an interview this week, Senate President
Bayou Teche to open brewery inside planned hotel downtown BY ADAM DAIGLE
ette that is expected to open midyear 2026, the hotel’s ownership group, Sans Souci Properties, anA popular Acadiana-based nounced Thursday. The brewery will include beer brewing company will open a brewery on the bottom floor of produced on-site, along with a the 83-room hotel planned for comprehensive food menu that will include wood-fired pizzas downtown Lafayette. Bayou Teche Brewing will oc- and crafted tiki cocktails. It will cupy the 4,500-square-foot space also operate a seasonal outdoor in the $19 million Hotel Lafay- bar at the hotel’s pool, offer inAcadiana business editor
WEATHER HIGH 81 LOW 54 PAGE 6B
room dining to hotel guests and serve as the preferred food and beverage vendor to private events at the hotel. Construction of the hotel is expected to kick off with a groundbreaking ceremony next month, said Gus Rezende, one of the four owners of the hotel. Demo
ä See BREWERY, page 5A
Business ...................10C Commentary ................3B Nation-World ................2A Classified .....................4B Living............................5C Opinion ........................2B Comics-Puzzles .....7C-9C Metro ...........................1B Sports ..........................1C
ä See EDUCATION, page 5A
A $19 million, 83-room hotel is planned for the corner of Lee Avenue and Vermilion Street and will include a unique restaurant space, an outdoor pool and event spaces. PROVIDED RENDERING
100TH yEAR, NO. 284