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1. Trump pauses tariffs for 90 days, excluding China
U.S. President Donald Trump announced Wednesday afternoon that he will pause most of the reciprocal tariffs he enacted just one week prior, excluding China. Trump actually raised tariffs on Chinese goods from 104% to 125% in response to China raising its tariffs on U.S. goods to 84%.
The S&P 500 rose 9.5% — the highest single-day gain since October 2008 — after Trump's announcement to reverse course, the New York Times reports. The index is still down 11.2% its recent high in February.
“Respite? Further economic suicide?” asked Peter Boockvar, chief investment officer of Bleakley Financial Group. “It will all depend on where you source product from, of course, and unfortunately about $450 billion is still being imported from China.”
The European Union announced it will pause its retaliatory tariffs on U.S. imports for 90 days as well, postponing its plans a day after voting to approve the measures.
2. US inflation eases in March
Consumer prices were up 2.4% year over year in March, down from 2.8% in February, according to the U.S. Department of Labor. The Wall Street Journal reported that it was below the 2.6% economists projected.
Despite Trump pulling back on tariffs, economists and the Federal Reserve are monitoring whether it could lead to growing inflation in the future.
“A majority of participants noted the potential for inflationary effects arising from various factors to be more persistent than they projected,” according to minutes of the Fed’s March 18-19 policy meeting, published Wednesday.
3. European resorts grow demand, rates
Resorts in the sunnier areas of Europe are becoming more important to hotel portfolios in the region as they move away from all-inclusive models, HNN's Terence Baker reports from the International Hospitality Investment Forum EMEA.
The segment is growing guest demand, price premiums and investor appetite. Miguel Casas, managing director of hospitality at Madrid-based investment firm Stoneweg Hospitality, said resorts have more room to add value than other types of hotels.
“There is more control. We are the investment and asset manager, and now it is not just the case of having [a hotel management agreement] and letting the operator get on with it,” Casas said.
4. Real ID deadline may finally be enforced
Back in 2005, Congress passed the Real ID Act, requiring an extra step of authorization to fly domestically instead of a standard U.S. driver's license or state ID. Nearly 20 years later, it will be finally be enforced, the New York Times reports.
The Department of Homeland Security said starting May 7, a standard driver's license or state ID will not suffice at airport security checkpoints. Passengers will need to either have the Real ID star on their license or provide another approved form of identification, such as a passport.
5. Syracuse selects Graduate for new campus hotel
Syracuse University selected Graduate by Hilton as the brand partner of a new campus hotel on its University Avenue, according to a news release. The property is expected to open in the fall of 2027.
Graduate has 35 hotels that reside on or near college campuses in the U.S. and U.K. The Syracuse location will feature about 200 rooms, a three-meal restaurant and event space.
“Syracuse University is the perfect partner as we continue the Graduate tradition of delivering collegiate-inspired hospitality to vibrant academic communities,” Kevin Osterhaus, president, global lifestyle brands, Hilton, said in the release. “Like the University, Graduate values lifelong learning and connection, and we are confident this hotel will become a beloved destination for visitors, locals and fans alike.”