Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Thursday, April 10th, and you better believe we are talking about

the 90-day pause. What does it mean? How good is it actually? Is it going to change anything

in markets? It seems like it is, but is it really? Before we get into that, however, if you are

enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation,

come join us on the Breakers Discord. You can find a link at the show notes or go to bit.ly slash breakdown pod. Well, friends, as you well know at this point, Trump's trade war is on pause as the

administration steps back from the brink. Reciprocal tariffs went into effect on Tuesday night,

adding to the baseline 10% tariffs that came into force over the weekend. However,

come Wednesday morning, the president had a change of heart. He authorized a 90-day pause on the

enhanced tariff rate, and in press comments at the White House to explain his reversal, Trump

added, I thought that people were jumping a little bit out of line. They were getting a little

bit yippy, a little bit afraid. Not really clear at all on what that means, but Treasury Secretary Scott Besson insists

everything is going according to plan, commenting, we saw the successful negotiating strategy

President Trump implemented a week ago today, and it has brought more than 75 countries forward

to negotiate. It took great courage for him to stay the course until this moment. This was his

strategy all along. Sure, whatever, let's take that at face value.

Broadcasting the administration's intentions from here, he added,

what we've ended up with here, as I told everyone a week ago, do not retaliate and you will be

rewarded. So every country in the world who wants to come and negotiate, we are willing to hear you.

One White House source told Politico that, quote, Scott Besson is in the driver's seat now,

referring to the Treasury Secretary taking over from the U.S. Trade Representative in pushing for the pause and taking point on negotiations. And that for Wall Street is definitely good news,

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