Markets Rip on Tariff News, Judge Grants AP WH Access, DNI Launches Intel Task Force: AM Update 4/10

Good morning, everyone. I'm Megan Kelly.
It's Thursday, April 10th, 2025, and this is your AM update. China wants to make a deal.
They just don't know how quite to go about it. President Trump turns up the heat on China and sends markets soaring with a pause on tariffs for cooperating nations.
My Republican colleagues are here using today to continue pushing this false narrative of sanctuary cities harboring criminals. House Democrats attempt to deflect and distract from harm caused by illegal immigrants in sanctuary cities as the Trump administration celebrates a historic drop in illegal border crossings.
A federal judge orders the Trump administration to restore exclusive White House access to the Associated Press. And Director of National Intelligence Tulsi Gabbard creates a task force to expose the skeletons from within the intel community's closet.
All that and more coming up in just a moment on your AM update. The IRS is the largest collection agency in the world.
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Act now before the IRS acts first. The stock market posting its third largest gain in post-World War II history.
The Dow surging by 2,900 points, a 7.8% increase, its largest percentage gain since March 2020. The S&P 500 soaring to 5,956, a 10% increase.
The Nasdaq closing just above 17,000. That's the largest one-day jump since January 2001.
The incredible rise coming on the announcement of a 90-day pause on tariffs for all countries who did not retaliate against the president's Liberation Day announcement, hiking tariffs. For weeks, the president saying the tariffs would be permanent, sending markets into the red.
Mr. Trump discussing the stunning reversal from the Oval.
We don't want to hurt countries that don't need to be hurt, and they all want to negotiate. The only problem is, you know, you can only do so many at one time.
It's like, we want to do it right. We want to an increase on our Chinese tariffs to 125 percent.
The CCP previously announcing a retaliatory increase on U.S. tariffs to 84 percent.
Treasury Secretary Scott Besant telling reporters this was the strategy all along. And all this was, again, this was driven by the president's strategy.
He and I had a long talk on Sunday, and this was his strategy all along. And you might even say that he goaded China into a bad position.
They responded. They have shown themselves to the world to be the bad actors.
And we are willing to cooperate with our allies and with our trading partners who did not retaliate. It wasn't a hard message.
Don't retaliate. Things will turn out well.
Mr. Trump outside the White House saying he believes China will come to the table.
China was by far the biggest abuser in history and others also. But somebody had do it they had to stop because it was not sustainable last year china made uh one trillion dollars off trade with the united states you know look nothing's over yet but we have a tremendous amount of spirit from other countries including china china wants to make a deal they just don't know how quite to go about it we have many other other countries, as you know, many more than 75, and they all want to come and they want to come here or they'll go to commerce or they'll go to treasury.
So we'll see how it all works out. I think it's going to work out amazing.
China was admitted to the World Trade Organization in 2001 under favorable terms designed to advance its developing economy into a global player. At the time, Western leaders believed integration into the global economy would encourage the democratization of China.
The opposite proved true. China growing more authoritarian, exploiting tariffs and intellectual property loopholes, leapfrogging into the world's second largest economy, and evolving into the primary adversary of the U.S.
Billionaire entrepreneur Kevin O'Leary telling CNN President Trump is not going far enough to punish the Chinese. 104 percent tariffs in China are not enough.
I'm advocating 400 percent. I do business in China.
They don't play by the rules. They've been in the WTO for decades.
They have never abided by any of the rules they agreed to when they came in for decades. They cheat.
They steal. They steal IP.
I can't litigate in their courts. They take product, technology.
They steal it. They manufacture it and sell it back here.
Finally, an administration that puts up and says enough. 400% tariffs tomorrow morning.
He'll tell you why. Chi can only stay the supreme leader if people are employed if we wipe out any business there because we are still 39 percent of all consumables on earth and 25 percent of the world's gdp america is the number one economy on earth with all the cards we will not not have that forever.
It's time to squeeze Chinese heads into the wall now. The Trump administration ratcheting up pressure on illegal aliens to self-deport, fining illegal immigrants $998 for each day they remain in the U.S.
illegally. Reuters reporting the administration is planning to apply the fines retroactively up to five years, totaling more than a million dollars.
The administration offering benefits to illegal aliens who choose to self-deport via the CBP Home app, allowing them to keep money earned in the U.S. and maintain eligibility to return legally.
DHS in March recording the lowest border crossings in history, daily apprehensions dropping by 95 percent compared to the prior year. President Trump highlighting the achievement on Tuesday night.
During the same period last year, Joe Biden released more than 184,000 illegal aliens into our country. Think of it.
Many of these people were from jails and mental institutions, as I said. Since my inauguration, we've released a grand total of nine.
Nine. Nine.
And they were all, in all cases, medical emergencies. But we will continue to deport these monsters under the Alien Enemies

Act. Think of that, Alien Enemies Act.
Can you believe it? On Wednesday, the House Judiciary

Subcommittee on Immigration, Integrity, Security, and Enforcement, holding a hearing on sanctuary

jurisdictions, inviting witnesses negatively impacted by the sanctuary policies, which

prevent state or local officials from cooperating with ICE to safely remove illegal aliens. Democrats on the committee using their time to attack their Republican colleagues, ranking member of the subcommittee Washington Congresswoman Primaeja Jayapal, beginning her remarks with this.
Perhaps the chairman would have this level of concern for the victims of senseless gun violence across this country. 47,000 people who were killed from gun violence just in one year alone.
Or perhaps the chairman would have this level of concern for the families of law enforcement that were killed during the January 6th insurrection on the United States Capitol. The only person killed on January 6th was Ashley Babbitt, an unarmed protester shot by Capitol Police.
A medical examiner ruling Officer Brian Sicknick passed away due to natural causes. Four officers later died by suicide.
Democrat Congresswoman from Texas Jasmine Crockett making this claim. My Republican colleagues are here using today to continue pushing this false narrative of sanctuary cities harboring criminals.
Yet right here in D.C., we have a 34 count felon being harbored in the White House. The hypocrisy coming from your side of the aisle over concerns regarding lawlessness is outrageous.
Right now, House Republicans are conducting town halls with constituents lying about our legal system. That, quote, there is no due process if you come here illegally because you violated the law.
That immigrants, quote, are not entitled to due process. Nowhere in the Constitution does it say that.
Congresswoman Crockett obfuscating the reality with her statement. Illegal immigrants are entitled to due process, though protections afforded to illegals are more limited.
Illegal immigrants are not entitled to a public defender, as proceedings are civil, not criminal. There's no jury trial.
Federal agents present evidence to an immigration judge under a lower standard of proof. The Sanctuary City hearing held just days after authorities charged a 43-year-old illegal immigrant living in Sanctuary City, Los Angeles, with murdering a 13-year-old boy.
The suspect also accused of sexually assaulting multiple teen boys, authorities now seeking out other possible victims. Coming up, a federal judge orders the Trump administration to restore exclusive access to the Associated Press.
And Director of National Intelligence Tulsi Gabbard creates a task force to expose the skeletons from within the intel community's closet. As Americans are getting inspired to make their health and fitness a priority, let me tell you about Don and the team at Jacked Up Fitness, a great American company.
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Federal judge on Tuesday ordering the White House to restore full presidential access to the Associated Press. The White House banning the AP from so-called pool access in February, following the outlet's refusal to accept the Gulf of America renaming.
Pool access is a more exclusive group of reporters granted access to tight spaces like Air Force One and the Oval Office. The AP maintains the ability to cover the White House from the briefing room.
U.S. District Judge Trevor McFadden, a Trump appointee, writing, quote, if the government opens its doors to some journalists, it cannot then shut those doors to other journalists because of their viewpoints.
The judge going on to say, quote, the AP is not necessarily entitled to the first-in-line-every-time permanent press pool access it enjoyed under the White House Correspondents Association, but it cannot be treated worse than its peer wire service either. Since the beginning of the spat, Press Secretary Caroline Levitt taking control over pool coverage from the White House Correspondents Association, opening up access to less traditional outlets.
Judge McFadden allowing the feds one week to respond before this order goes into effect. The New York Times reporting Wednesday, pronouns in bio? You may not get a response from the White House.
The Times writing, quote, on at least three recent occasions, senior Trump press aides have refused to engage with reporters' questions because the journalists listed identifying pronouns in their email signatures. Press Secretary Caroline Levitt confirming to the Times, quote, any reporter who chooses to put their preferred pronouns in their bio clearly does not care about biological reality or truth, and therefore cannot be trusted to write an honest story.
President Trump banned the practice of including pronouns in federal employees' email signatures, Vice President Kamala Harris embracing the practice during her time in office. I am Kamala Harris.
My pronouns are she and her. I am a woman sitting at the table wearing a blue suit.
Several high-profile progressive Democrats

removing pronouns from their bios following President Trump's re-election, including Ms. Harris, AOC, Senator Elizabeth Warren, and former Transportation Secretary Pete Buttigieg.
As for me, I have the same policy as the White House. No pronouns in your email or no response from me.
Director of National Intelligence, Tulsi Gabbard, announcing on Tuesday the creation of a new task force. DNI Gabbard saying in a statement, quote, in order to rebuild trust in the intelligence community, I established the Director's Initiatives Group to bring about transparency and accountability across the IC.
We are already identifying wasteful spending in real time, streamlining outdated processes, reviewing documents for declassification, and leading ongoing efforts to root out abuses of power and politicization. This is the latest effort in the Trump administration's push to lift the shroud of secrecy on the nation's intelligence agencies.
In January,

President Trump ordering the release of the JFK, RFK, and MLK files. President Trump's issues with

the intel community ranging back to the now-debunked hoax alleging Russian President Vladimir Putin

worked with President Trump to steal the 2016 election. The accusations consuming Mr.
Trump's

first term in office, resulting in millions of taxpayer dollars, spent on numerous investigations. In the years since, counter-investigations proving the intel community was aware of the dubious origins of the Steele dossier, opposition research funded by the Hillary Clinton campaign, and used it anyway to obtain secret warrants allowing the FBI to spy on the Trump campaign.
The task force will also look into domestic surveillance conducted by the Biden administration. In May of 2023, an FBI whistleblower testifying in front of Congress about orders to stop investigating child pornography cases and to start looking into parents at school board meetings who objected to mask mandates, DEI initiatives, gender radicalism, or yes, who had the temerity to go over their allotted time to speak at school board meetings.
Not kidding. Mr.
Friend, you ever been to a school board meeting? Yes, I have. FBI ever sent you to the parking lot of a school board meeting? Yes, they have.
And in the parking lot of a school board meeting where the FBI sent you, you were taking down information regarding people's license plates. That's correct.
Now, it wasn't the first time you'd been to a school board meeting, was it? No, I went on my own as a private citizen. As a parent? Yes.
And so there you were. It must have been quite an interesting perspective.
There you were taking down the information of people, parents attending school board meetings on behest of the FBI. And you had been one of those parents at a school board meeting.
How did that feel? Well, after I attended privately, my colleagues teased me that they were probably going to start investigating me. AOC busted flying first class to a Bernie Sanders fight the oligarchy rally last month.
The New York Post obtaining a quickly snapped pic of the unaware congresswoman settling into her first class seat. The flyer who snapped the photo telling the Post, quote, nothing says power to the people like ignoring voters looking to say hello and reclining in first class while tweeting about

income inequality. A first class jet blue seat on that route reportedly costs upward of $1,100.

And that'll do it for your AM update. I'm Megan Kelly.
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