Financial markets around the world reeled following President Trump’s latest and most severe set of tariffs, and the US stock market took the worst of it. The S&P 500 fell 4.8% Thursday, more than other major stock markets. The Dow Jones Industrial Average dropped 1,679 points, and the Nasdaq composite sank 6%.
Meanwhile, the Pentagon’s acting inspector general announced Thursday that he would review Defense Secretary Pete Hegseth’s use of the Signal messaging app to convey plans for a military strike against Houthi militants in Yemen.
See a recap.
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Trump administration demands Harvard end DEI programs, cooperate with immigration authorities to preserve federal funding — 10:23 p.m.
Mike Damiano and Hilary Burns, Globe Staff
The Trump administration’s antisemitism task force sent Harvard University a list of demands Thursday detailing actions the school must take to avoid the cancelation of billions of dollars of federal funding, according to a copy of the letter obtained by the Globe and a federal government official familiar with the matter.
The demands follow Monday’s announcement of a Trump administration “review” of $9 billion of federal grants and contracts destined for the university and its affiliated institutions, including preeminent research hospitals like Mass General Brigham and Boston Children’s Hospital.
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The demands include: shuttering diversity, equity, and inclusion programs; implementing “merit-based” admissions and hiring policies; banning masks that can conceal the identity of protesters; and “full cooperation” with the US Department of Homeland Security.
What’s in that $9 billion the Trump administration is reviewing at Harvard? — 9:06 p.m.
By Chris Serres, Liz Kowalczyk, Jonathan Saltzman, Mike Damiano, and Neena Hagen, Globe Staff
Scientists exploring weather changes in the earth’s upper atmosphere, geneticists snipping strands of DNA to treat diseases, physicians working on an HIV vaccine — all of these research projects at Harvard University and its affiliated institutions were paid for with federal dollars, which puts them squarely in the crosshairs of the Trump administration’s widening crackdown on universities.
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On Monday, the administration announced a massive review of nearly $9 billion in federal funding to Harvard and its affiliates, part of the Trump administration’s crackdown on elite universities for what it describes as their failure to protect Jewish students from alleged antisemitic harassment related to the pro-Palestinian student protest movement.
The government has provided few specifics about how it arrived at the $9 billion sum, except to say that it is undertaking a “comprehensive” review of grants and contracts from “across the federal government.” The review includes $255.6 million in contracts and $8.7 billion in multi-year grant commitments, according to the Trump administration’s antisemitism task force.
According to current and former administrators at Harvard and affiliated institutions, as well as members of the Trump task force, the review appears to encompass all active federal research grants and contracts to Harvard and its affiliates.
A Globe analysis offers clues to what’s at stake in the review.
Trump hopes to use tariff revenue to offset the cost of extending his tax cuts, but critics say it doesn’t add up — 8:18 p.m.
By Jim Puzzanghera, Globe Staff
President Trump boasts his massive tariffs will bring manufacturing back to the United States and rebalance an unfair global trading system. But for Republicans, they have another purpose: generating billions of dollars in government revenue to provide fiscal cover for the extension of his 2017 tax cuts.
Extending the tax cuts, which expire on Dec. 31, will cost approximately $4.5 trillion over the next decade. That total could go even higher if Congress adds provisions, such as Trump’s campaign promises to eliminate taxes on tips, overtime pay, and Social Security benefits. So Trump and his Republican allies in Congress need to find a pool of incoming funds to offset that price tag and avoid exploding the already soaring national debt.
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That’s where the new tariffs come in.
But Democrats said there are major flaws in the plan. First, tariffs aren’t money coming into the Treasury from outside the country. They are fees levied on foreign products that are paid by US importers. Foreign exporters sometimes eat the additional fee or part of it, but US companies typically are stuck with the extra cost and pass it on to consumers.
“They’re hoping they can sell a story to the American people based on magic math,” Senator Elizabeth Warren, a Massachusetts Democrat, said of Trump and the Republicans. “Trump’s tariffs are designed to create an illusion of incoming revenues for the government.”
Federal judge says she will temporarily block billions in health funding cuts to states — 7:53 p.m.
By the Associated Press
A federal judge will temporarily block President Donald Trump’s administration from cutting billions in federal dollars that support COVID-19 initiatives and public health projects throughout the country.
US District Judge Mary McElroy in Rhode Island said Thursday that she plans to grant the court order sought by 23 states and the District of Columbia.
“They make a case, a strong case, for the fact that they will succeed on the merits, so I’m going to grant the temporary restraining order,” said McElroy, who plans to issue a written ruling later.
Assistant US Attorney Leslie Kane objected to the temporary restraining order in court, but she said she was limited in the argument she could make against it, adding that her office was unable to thoroughly review the thousands of documents under the time limitation.
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The US Health and Human Services Department has defended the decision, saying that the money was being wasted since the pandemic is over.
Boston-based retail companies face gut punch from tariffs. But there’s one that might benefit. — 7:48 p.m.
By Aaron Pressman, Globe Staff
A day after President Trump’s tariff announcement, a hard reality set in for businesses in New England that depend on imports and a global supply chain, from furniture seller Wayfair to appliance maker SharkNinja and footwear brand Wolverine.
Investors have long feared higher tariffs could spike inflation, slow growth, and frighten consumers, but the sheer size and breadth of what Trump did was much greater than anticipated. While companies were expecting stiff tariffs on China, many have spent years diversifying supply chains into Vietnam, India, and other even-lower cost countries. Then those countries, too, were hit with tariffs, as high as 46 percent.
That leaves retailers with an unpleasant choice: hike prices and risk scaring off customers, or absorb the tariffs themselves and take a hit to profits.
“Wayfair and a lot of companies have been trying to maneuver their supply chain away from China,” Bentley University economics professor David Gulley said. “But when the tariffs were announced [Wednesday], they were dramatically broader than expected, and hit basically every country we trade with. And then they were dramatically higher than what was expected.”
And that appears to have taken some companies by surprise.
Republicans moving ahead with Trump’s ‘big’ bill of tax breaks and spending cuts amid tariff uproar — 7:46 p.m.
By the Associated Press
After a long wait, the Senate is launching action on Trump’s “big, beautiful bill” of tax breaks and spending cuts at a risky moment for the US and global economy.
More than a month after House Republicans surprised Washington by advancing their framework for Trump’s tax breaks and spending cuts package, Senate Republicans voted Thursday to start working on their version.
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The 52-48 vote sets the stage for back-to-back Senate all-nighters spilling into Friday and the weekend.
Work on the multitrillion-dollar package is coming as markets at home and abroad are on edge in the aftermath Trump’s vast tariffs scheme, complicating an already difficult political and procedural undertaking.
IMF director says tariffs ‘represent significant risk to the global outlook’ — 6:51 p.m.
By the Associated Press
International Monetary Fund Managing Director Kristalina Georgieva said the announcement of U.S. tariffs “clearly represent a significant risk to the global outlook” at a time of sluggish global growth.
“It is important to avoid steps that could further harm the world economy,” Georgieva said in a statement. “We appeal to the United States and its trading partners to work constructively to resolve trade tensions and reduce uncertainty.”
The IMF and World Bank will hold meetings later this month to discuss the world economic outlook and other issues. U.S. tariffs will be a part of that discussion.
Trump brandished promised ‘gold card’ visa for investors — 6:37 p.m.
By the Associated Press
Trump visited the press cabin on Air Force One, showing off one of the gold-colored card visas that have his image on the front.
Trump said in February that he planned to offer a “gold card” visa with a path to citizenship for $5 million to replace a 35-year-old visa for investors.
The card is meant to replace EB-5 visas. Congress created EB-5s in 1990 to generate foreign investment. They’re available to people who spend about $1 million on a company that employs at least 10 people.
Trump told reporters that the card would be “out in about, less than two weeks, probably. Pretty exciting, right?”
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States sue to block Trump’s election order — 6:35 p.m.
By the Associated Press
Democratic officials in 19 states are suing over Trump’s attempt to reshape elections across the U.S., calling it an unconstitutional invasion of states’ clear authority to run their own elections.
The lawsuit is the fourth against the executive order issued just a week ago. It seeks to block key aspects of it, including new requirements that people provide documentary proof of citizenship when registering to vote and a demand that all mail ballots be received by Election Day.
The lawsuit says forcing such changes on the states violates the broad authority the Constitution gives states to set their own election rules.
Trump has argued his order secures the vote against illegal voting by noncitizens, though multiple studies and investigations in the states have shown that it’s rare.
Chile’s finance minister says Trump’s tariffs are ‘unjustified’ — 5:50 p.m.
By the Associated Press
Chilean Finance Minister Mario Marcel said Trump’s tariffs are “unjustified,” warning they will be “a shock to the global economy.”
Marcel said the 10% tariffs imposed on his South American nation will have a “limited” impact because the taxes don’t apply to Chile’s most crucial exports — lumber and copper. Still, the tariffs could affect the competitiveness of Chile’s agricultural production, he said.
The US is Chile’s second-largest trading partner after China.
“It’s a situation we must face calmly and intelligently,” he told journalists.
Trump backs proposal that would allow proxy voting in the House for new parents — 5:25 p.m.
By the Associated Press
Trump backed a proposal from a House Republican who has been pushing to allow proxy voting, rather than voting in person, in the House for new parents.
The president said he spoke with Republican Rep. Anna Paulina Luna, of Florida, a leading proponent of the idea, about her effort and said of it: “I don’t know why it’s controversial.”
Trump, speaking to reporters on Air Force One, said he would defer to House Speaker Mike Johnson to make the ultimate call on those changes.
But “you’re having a baby, I think you should be able to call in and vote,” the president added. “I’m in favor of that.”
Trump’s arrival at his Doral golf resort is slightly delayed — 5:24 p.m.
By the Associated Press
Television images from Miami International Airport showed that the helicopter that was to carry Trump about 6 miles to the property had a flat tire, which presumably caused the delay.
Trump landed in Miami around 4:45 p.m.
Trump is scheduled to attend a dinner with LIV tour golfers and other invited guests Thursday night at his resort.
The LIV tournament starts Friday. The tournament’s pro-am event — featuring LIV golfers and others, including Florida Gov. Ron DeSantis and Eric Trump — was earlier Thursday, wrapping up before the president arrived.
Trump was scheduled to be at his Doral property for about four hours before heading to West Palm Beach. He is expected to play golf at one of his other properties in Jupiter, Florida, at some point this weekend.
Trump says Loomer made personnel recommendations but says did not have role in NSC firings — 5:21 p.m.
By the Associated Press
“Laura Loomer is a very good patriot and a very strong person,” said Trump, who described the far-right activist as usually “constructive.”
Trump acknowledged that Loomer “recommended certain people for jobs” during their Wednesday conversation at the White House
“Sometimes I listen to those recommendations, like I do with everybody,” Trump said.
Asked if Loomer had anything to do with aides being ousted from their jobs at the National Security Council, Trump replied, “no.”
Judge says US government may have ‘acted in bad faith’ as he weighs contempt over deportation order — 5:14 p.m.
By the Associated Press
A federal judge said Thursday that the Trump administration may have “acted in bad faith” by trying to rush Venezuelan migrants out of the country before a court could block their deportations to El Salvador.
US District Judge James “Jeb” Boasberg in Washington pressed a Justice Department lawyer to explain the government’s actions in a high-stakes court hearing to determine whether the administration ignored his orders to turn around planes that were carrying deportees to El Salvador.
The judge said he could issue a ruling as soon as next week on whether there are grounds to find anyone in contempt of court for defying the court order.
Trump acknowledges ‘some’ NSC staffers have been fired — 5:12 p.m.
By the Associated Press
“Always we’re letting go of people,” Trump told reporters aboard Air Force One as he made his way to Miami. “People that we don’t like or people that we don’t think can do the job or people that may have loyalties to somebody else.”
The firings came a day after Trump was urged by far-right activist Laura Loomer to purge staffers she deemed insufficiently loyal to his “Make America Great Again” agenda, several people familiar with the matter said Thursday.
Trump says Musk will probably leave ‘in a few months’ — 5:10 p.m.
By the Associated Press
The president told reporters aboard Air Force One that his most powerful and disruptive adviser will likely be leaving in the near future.
Trump said “Elon is fantastic” but that he has “a number of companies to run.” The billionaire entrepreneur owns Tesla, Space X and X, among others.
Speculation about Musk’s future has been swirling in Washington, and there have been growing indications that he’ll start winding down his work for the administration soon.
Federal judge says she will temporarily block billions in health funding cuts to states — 5:05 p.m.
By the Associated Press
A federal judge plans to temporarily block Trump’s administration from cutting billions in federal dollars that support COVID-19 initiatives and public health projects throughout the country.
US District Judge Mary McElroy in Rhode Island said she will grant the temporary restraining order sought by a coalition of attorneys general and officials from the District of Columbia and 23 states. McElroy said she plans to enter a written ruling shortly.
The lawsuit, filed Tuesday, sought to immediately stop the $11 billion in cuts. It said the loss of money — which was allocated by Congress during the pandemic and mostly used for COVID-19 pandemic-related initiatives, as well as for mental health and substance use efforts — will devastate US public health infrastructure, putting states “at greater risk for future pandemics and the spread of otherwise preventable disease and cutting off vital public health services.”
The US Health and Human Services Department has defended the decision, saying that the money was being wasted since the pandemic is over.
Senate confirms Mehmet Oz to take lead of Medicare and Medicaid agency — 4:55 p.m.
By the Associated Press
Former heart surgeon and TV pitchman Dr. Mehmet Oz was confirmed Thursday to lead the Centers for Medicare and Medicaid Services.
Oz became the agency’s administrator in a party line 53-45 vote.
The 64-year-old will manage health insurance programs for roughly half the country, with oversight of Medicare, Medicaid or Affordable Care Act coverage. He steps into the new role as Congress is debating cuts to the Medicaid program, which provides coverage to millions of poor and disabled Americans.
Sanders loses fight to block bomb sales to Israel — 4:20 p.m.
By the Associated Press
Senator Bernie Sanders led a group of senators in a failed fight to block a new multibillionaire bomb sale to Israel. Two different attempts received only 15 votes in support, with more than 80 senators opposed.
As Israel’s main source of military aid, “We are deeply complicit,” Sanders told lawmakers from the Senate floor.
In February, Trump bypassed normal congressional review to approve a nearly $3 billion sale to Israel with more 2,000- and 500-pound bombs and other warheads.
Senator Chris Van Hollen, a Maryland Democrat, pointed to what he called the “twisted vision” of Trump and Prime Minister Benjamin Netanyahu to move Gaza’s more than 2 million Palestinians out of the territory.
“What happened to the man who pledged to bring peace to the Middle East?” Van Hollen asked.
Dow drops 1,680 in its biggest wipeout since 2020 — 4:08 p.m.
By the Associated Press
The S&P 500 fell 4.8% Thursday, more than other major stock markets. The Dow Jones Industrial Average dropped 1,679 points, and the Nasdaq composite sank 6%.
Economists say the way Trump calculated tariffs makes no sense — 4:02 p.m.
By Washington Post
Economists say the crude formula the White House used to calculate what it’s calling “reciprocal tariffs” is too simplistic to achieve its goal of wiping out US trade deficits — and, for that matter, they say that goal doesn’t make sense, either.
But the administration is defending its approach as a necessary step toward breaking apart a system that officials say is unfair to American workers and manufacturers.
Trump’s tariff plan, announced, would impose a 10 percent baseline tariff on all imports from virtually all countries — plus an additional punitive import tax tailored for each of about 60 countries.
US supply chain leader says Trump should exempt some products from tariffs — 4:00 p.m.
By the Associated Press
The Consumer Brands Association, which represents big food companies like Coca-Cola, General Mills, Nestle, Tyson and Del Monte as well as consumer product makers like Procter & Gamble and Colgate-Palmolive, said its companies already make the majority of their goods in the US.
But there are critical ingredients and inputs – like wood pulp for toilet paper – that must be imported because of scarce domestic availability. Cinnamon is harvested from trees that can’t survive in the US, for example. Domestic production of coffee and cocoa is also limited.
“We encourage President Trump and his trade advisors to fine-tune their approach and exempt key ingredients and inputs in order to protect manufacturing jobs and prevent unnecessary inflation at the grocery store,” said Tom Madrecki, the association’s vice president of supply chain resiliency.
Argentina’s president is off to Mar-a-Lago, defending Trump’s tariffs — 3:34 p.m.
By the Associated Press
Javier Milei, a libertarian who frequently showers praise on the American president, posted on X a link to the Queen song “Friends will be Friends” as global markets slumped and trade tensions spiked.
Milei said he hopes to meet informally with Trump during Thursday night’s “American Patriots Gala’ where his office said both he and Trump will be receiving an award.
Meanwhile, his spokesperson dismissed the irony of Milei defending Trump’s 10% tariffs on Argentine products, even as he staunchly opposes protectionism for Argentina’s long-constricted economy.
“Trump is not a protectionist,” Manuel Adorni said. “We believe his approach is pro-trade, and he raises tariffs on countries that are either protectionist or have a disproportionate level of tariffs.”
Republican senator says move to fire National Security Council officials ‘raises eyebrows’ — 3:11 p.m.
By the Associated Press
Senator Mike Rounds, a Republican who sits on Senate committees overseeing the military and national intelligence, told reporters it “raises eyebrows” whenever “there is a firing of people on the National Security Council or their staff, particularly people that we have respect for.”
Rounds said he had never met Laura Loomer, but acknowledged that staff working in the executive branch faced more “volatility” than those working for Congress.
Trump offers first reaction to stock market drop day after tariff announcement — 2:57 p.m.
By the Associated Press
The president commented as he left the White House for a trip to Florida, saying, “I think it’s going very well” and that the tariffs will result in “six or seven trillion dollars coming into our country.”
“The markets are going to boom, the stock is going to boom and the country is going to boom,” Trump said.
The Dow Jones Industrial Average dropped more than 1,300 points as US stocks lead a worldwide sell-off after Trump’s announcement of tariffs against much of the world ignited a COVID-like shock.
President Trump: "I think its going very well. It was an operation, like when a when a patient gets operated on. It's a big thing. I said this would exactly be the way it is. We have six or seven trillion dollars coming into our country...the markets are going to boom." pic.twitter.com/hhrGOFgX2J
— CSPAN (@cspan) April 3, 2025
Italian premier says Trump’s tariffs are not a catastrophe — 2:50 p.m.
By the Associated Press
Giorgia Meloni told Italian state TV on Thursday that she believes Trump’s decision to impose 20 percent tariffs on exports from Europe is “wrong,‘’ but “it is not the catastrophe that some are making it out to be.‘’
The U.S. market represents 10 percent of Italy’s total exports, but she argued that retaliatory tariffs could do more harm to Italy’s economy.
She said that the government would meet next week with representatives of affected sectors to formulate proposals to present to Italy’s European partners. “We need to open an honest discussion on the matter with the Americans, with the goal — at least from my point of view — of removing tariffs, not multiplying them,‘’ Meloni said.
Pentagon acting inspector general announces investigation into defense secretary’s use of Signal chat for Houthi attack plans — 2:44 p.m.
By the Associated Press
The watchdog at the Pentagon said he would review Pete Hegseth’s use of the Signal messaging app to convey plans for a military strike against Houthi militants in Yemen.
The review will also look at other defense officials’ use of the publicly available encrypted app, which is not able to handle classified material and is not part of the Defense Department’s secure communications network.
Right wing activist Laura Loomer says she pushes for stronger vetting at NSC to protect Trump — 2:39 p.m.
By the Associated Press
“It was an honor to meet with President Trump and present him with my research findings,” Loomer said in a posting on X. “I will continue working hard to support his agenda, and I will continue reiterating the importance of, and the necessity of STRONG VETTING, for the sake of protecting the President of the United States of America, and our national security.”
Trump has moved to dismiss at least three senior National Security Council officials and multiple lower-ranking aides after Loomer met with the president on Wednesday and urged him to fire officials she contends are insufficiently loyal to Make America Great Again movement, according to several people familiar with the matter who spoke on the condition of anonymity to discuss the sensitive personnel matter said Thursday.
Loomer, who has promoted 9/11 conspiracy theories, was a frequent presence on the campaign trail during Trump’s 2024 successful White House run. But more recently, she’s been speaking out on social media about some members of Trump’s national security team who she insists can’t be trusted.
White House trims weekend garden tours due to expected protest Saturday — 2:35 p.m.
By the Associated Press
The tours originally scheduled for Saturday and Sunday will now be held only on Sunday.
The White House says it made the decision because of a protest planned near the White House on Saturday.
Thousands of people are expected to participate in more than 1,000 related protests around the country — including at the Washington Monument — focused on Trump and billionaire Elon Musk.
Garden tour tickets that were assigned for Saturday will be honored on Sunday between 10 a.m. and 2:30 p.m.
Twice a year, in spring and fall, the White House allows the public to tour the South Lawn and its gardens.
Polar bear-inhabited islands affected by Trump tariffs — 2:23 p.m.
By the Associated Press
The Trump administration appears to be leaving no stone unturned with its sweeping tariffs around the globe, from rocky outcrops home to polar bears in the Arctic to tiny tropical islands to a former British penal colony whose leader is befuddled that it was targeted.
The American president rattled markets, manufacturers and more Wednesday announcing a baseline of 10% tariffs on imports into the United States — and far higher on goods from some places, notably those with high trade surpluses with the United States.
China’s economy would ‘collapse’ if US consumers turn them back, US ambassador pick says — 2:06 p.m.
By the Associated Press
Trump’s pick as ambassador to China told lawmakers on Thursday it’s time to “stand up” against unfair trade practices by the United States’ top trade rival.
David Perdue, a wealthy businessman and former U.S. senator from Georgia, spoke at his confirmation hearing before the Senate Foreign Relations Committee.
Economists warn of higher prices for American consumers as one result of Trump’s sweeping new tariffs, including a 34% levy on Chinese imports.
Perdue acknowledged that some sacrifices are needed, because “what we’ve become seduced by are the cheap prices that we gave in to over the last 30 years coming out of China.”
“If the American public says enough’s enough, what will happen to their economy?” Republican Sen. Rick Scott of Florida asked of China.
“It’ll collapse,” Perdue answered.
Republicans react to market plunge — 1:56 p.m.
By the Associated Press
Senator Tommy Tuberville brushed off the harsh reaction financial markets are having to Trump’s new tariffs.
“They’re all emotional. I’ve invested in the stock market for years. They go up and down on whether it rains or doesn’t rain,” Tuberville said. “It’ll all turn around.”
Senator Jim Justice, R-W.V., said it’s ok to have concerns about the tariffs, but he has confidence in Trump, and “as we move along, if we need to adjust, we adjust.”
Justice also said “we got to give it some time” in evaluating whether the tariffs are working. “It is a major reset to what we’re doing in this country, and anything that is a major reset, the markets usually act pretty severely to it.”
Italian trade group predicts job losses without solution to Trump’s tariffs — 1:55 p.m.
By the Associated Press
Federvini has denounced the new US tariffs as a “severe blow against free trade” that will impact $2.2 billion in Italian exports of wine and spirits, 40,000 producers and 450,000 workers.
“We have been through this before, and we know the cost all too well: such measures in the past have led to a drop in exports to the United States of up to 50%,‘’ Federvini President Micaela Pallini said in a statement.
“Now we risk reliving that economic trauma, with devastating consequences.‘’ She warned of a looming production and employment crisis if a solution cannot be negotiated, underlining that US companies that import and distribute wines will also be impacted.
France’s president urges French industries to suspend US investments — 1:50 p.m.
By the Associated Press
Emmanuel Macron said it’s important “that future investments be suspended for a while until we’ve clarified things with the U.S. ... because what would be the message of having major European players investing billions of euros (dollars) in the American economy at a time when they’re hitting us?”
Macron met in Paris with representatives of wines and spirits, food, cosmetics, health, metals, aeronautics and other industries. He called Trump’s announcement “brutal” and “unfounded because you can’t correct trade imbalances by imposing tariffs.”
The European Union needs to respond in “the most effective way” to send “a very clear message that we’re determined … to defend and protect ourselves,” Macron said, noting that American tech giants now profit from digital services in Europe.
Canada to match Trump’s 25% tariffs by taxing US vehicles but not auto parts — 1:33 p.m.
By the Associated Press
Prime Minister Mark Carney said Canada will match the US president’s 25 percent auto tariffs with a tariff on vehicles imported from the United States — but not on their parts, as Trump did with his previously announced 25 percent tariffs on auto imports that took effect Thursday.
The prime minister said he told Trump last week in a phone call that he would be retaliating.
“We take these measures reluctantly. And we take them in ways that is intended and will cause maximum impact in the United States and minimum impact in Canada,” Carney said. He said Canada won’t tariff the parts because Canadians know the benefits of the integrated auto sector, where parts can cross the border multiple times as vehicles are assembled in Ontario or Michigan.
Chuck Schumer: Why penguins and not Putin? — 1:24 p.m.
By the Associated Press
“Donald Trump is using tariffs in the dumbest way imaginable. Donald Trump slapped tariffs on penguins and not on Putin,” the minority leader said on the Senate floor Thursday.
Schumer was referring to Trump’s 10 percent sanctions on the Heard and McDonald Islands, an Australian territory in the remote Antarctic. They’re mostly barren, with active volcanoes.
Vladimir Putin’s Russia, meanwhile, was left off Trump’s list, which also includes Jan Mayen, a small Norwegian island in the Arctic that possibly has more polar bears than people.
Senators introduce bipartisan bill to expand congressional authority over tariffs — 1:10 p.m.
By the Associated Press
The legislation pushed by Iowa Republican Chuck Grassley and Washington Democrat Maria Cantwell would require presidents to justify new tariffs and secure congressional approval within 60 days, otherwise they would expire.
Grassley said he was working on this long before Trump introduced sweeping global tariffs. Whether it gains traction in the Republican-controlled Congress remains to be seen.
Congress already technically has authority over tariffs, but over the last century it has given much of that power to the president. This has effectively removed most of its check on executive power. Lawmakers have some standing to counter tariffs, such as nullifying a presidential emergency declaration, but such resolutions need to pass both chambers and then either be signed by the president, or have the votes to override a veto.
The National Endowment for the Humanities is terminating grants, recipients say — 1:09 p.m.
By the Associated Press
The NEH distributes hundreds of millions of dollars each year to state humanities councils, along with museums, historical sites, educational institutions and independent researchers. Projects have included organizing George Washington’s papers and supporting “American Prometheus,” the J. Robert Oppenheimer biography that led to an Oscar-winning film.
Now NEH grant recipients are getting termination notices, according to the American Federation of Government Employees Local 3403.
“Cutting NEH funding directly harms communities in every state and contributes to the destruction of our shared cultural heritage,” reads a statement from the National Humanities Alliance, a nationwide coalition of humanities advocates.
An NEH spokesperson did not immediately respond Thursday to a request for comment. The Trump administration has been dismantling institutions over what it calls “woke” culture.
Brazil’s Congress unanimously gives its president power to retaliate against Trump’s tariffs — 12:24 p.m.
By the Associated Press
President Luiz Inácio Lula da Silva says his administration will take all necessary actions, based on World Trade Organization principles and a new reciprocity bill approved by Congress on Wednesday, to protect Brazil’s companies and workers after the United States imposed a 10 percent extra tariff on all Brazilian exports.
“We stand for multilateralism and free trade, and we will respond to any attempt to impose protectionism, which no longer has a place in today’s world,” Lula said during an official ceremony in Brasília.
The US is Brazil’s top trade partner after China, importing Brazilian crude oil, aircraft, coffee, cellulose and beef. America’s trade surplus reached $28.6 billion in goods and services last year.
Brazil has said it remains open to dialogue aimed at reversing the extra tariffs, while also considering taking the case to the WTO and imposing reciprocal tariffs. Lula has yet to sign the bill into law.
Trump has moved to fire some NSC officials after Laura Loomer presentation, sources say — 11:56 a.m.
By the Associated Press
The president took action against several senior White House National Security Council officials soon after he was urged by the far-right activist to purge staffers she deemed insufficiently committed to his Make America Great Again agenda, according to several people familiar with the matter Thursday.
Loomer presented her research to Trump in an Oval Office meeting, making her case for the firings, the people said, speaking on condition of anonymity to discuss sensitive personnel matters. Vice President JD Vance, chief of staff Susie Wiles, national security adviser Mike Waltz and Serio Gor, the director of the Presidential Personnel Office, took part in the meeting, the people said.
NSC spokesman Brian Hughes declined to comment on the meeting or the firings.
K-12 schools must sign certification against DEI to receive federal money, Trump administration says — 11:43 a.m.
By the Associated Press
The Trump administration is ordering schools nationwide to certify that they are following federal civil rights laws — and eliminating DEI practices — as a condition for receiving federal money.
A notice sent Thursday by the Education Department gives the nation’s states and schools 10 days to sign and return the certification.
“Federal financial assistance is a privilege, not a right,” Craig Trainor, acting assistant secretary for civil rights, said in a statement. The certification asks state and school leaders to acknowledge that “the use of certain DEI practices can violate federal law” and result in a termination of funding.
It follows a Feb. 14 memo declaring that any school policy that treats students or staff differently because of their race is illegal.
Financial markets keep reeling as some analysts describe Trump’s tariffs as a worst-case scenario — 11:39 a.m.
By the Associated Press
The S&P 500 was down 4.3 percent in morning trading, on track for its worst day since COVID shattered the global economy five years ago. The Dow Jones Industrial Average was down 1,538 points, or 3.6 percent, as of 10:55 a.m. Eastern time, and the Nasdaq composite was 5.6 percent lower.
Fear is flaring globally about the potentially toxic mix of higher inflation and weakening economic growth that could be created by the tariffs rivaling levels unseen in roughly a century.
It’s “plausible” that Trump’s latest and most severe set of tariffs could reduce US economic growth by 2 percentage points this year and raise inflation close to 5 percent, according to the multinational financial services company UBS.
A nation Trump said ‘nobody has ever heard of’ now faces 50% tariffs on exports to US — 11:24 a.m.
By the Associated Press
Lesotho is one of the smallest countries in Africa with a population of 2.2 million people, yet exports $237.3 million worth of goods to the US — mostly textiles and diamonds — sectors which create most of its jobs.
“There is no country immune from those tariff hikes he made. That means countries will have to renegotiate their positions with the USA and see how they will manage to trade in,” said government spokesman Thabo Sekonyela.
The US is Lesotho’s second biggest trade partner after South Africa. This a second blow for Lesotho after Trump withdrew foreign aid.
Top US general in Europe says giving up US role as NATO Supreme Commander could affect nukes — 10:59 a.m.
By the Associated Press
Gen. Christopher Cavoli, commander of United States European Command and Supreme Allied Commander Europe, told lawmakers Thursday that a potential Trump administration plan to relinquish US control over the role of Supreme Allied Commander Europe as part of its downsizing efforts could create issues for control over U.S. nuclear weapons based there as well as the tens of thousands of troops deployed there.
The position oversees all NATO decisions in Europe, where the US is often the largest troop contributor to NATO operations.
“I think that would bring some challenges in terms of nuclear command and control. It would put us in a position where, in an Article Five situation, we could have for the first time since the First World War large numbers of American troops under non-US command. So I think those are things that would have to be considered carefully,” Cavoli told members of the Senate Armed Services Committee.
Democrats warn that Trump’s tariffs could result in a recession — 10:54 a.m.
By the Associated Press
Democrats are blaming Trump for plunging financial markets and calling on him to rescind his tariffs.
Sen. Chuck Schumer, the Senate Democratic leader, said the tariffs amount to the biggest tax hike on families since World War II.
Schumer spoke on the Senate floor as financial markets tanked, saying “Donald Trump has singlehandedly created a financial forest fire.”
“President Trump should reverse course on his disastrous tariffs immediately,” Schumer said. “Or else, he risks plunging America into recession.”
Senate Armed Services chair chides ‘mid-level’ Pentagon leaders for plan to pull US troops from Europe — 10:52 a.m.
By the Associated Press
“There are some who believe now is the time to reduce drastically our military footprint in Europe,” Republican Sen. Roger Wicker said at Thursday’s hearing with US military commanders for Europe and Africa.
“I’m troubled at those deeply misguided and dangerous views held by some mid-level bureaucrats within the Defense Department. They’ve been working to pursue a US retreat from Europe and they’ve often been doing do without coordinating with the Secretary of Defense,” Wicker said.
It was not immediately clear what “mid-level bureaucrats” Wicker was talking about. US troops in Europe increased by about 20,000 to a total of roughly 100,000 in response to Russia’s invasion of Ukraine, to assist with training and logistics and to reassure NATO allies that the US would defend them.
US prices for some furniture could nearly double, trade association says — 10:50 a.m.
By the Associated Press
The Home Furnishings Association, which represents more than 13,000 US furniture stores, predicted that the tariffs will increase prices between 10 percent and 46 percent. Vietnam and China are the top furniture exporter to the US.
The association said manufacturers in Asia are offsetting some of the costs by discounting their products and lowering ocean freight rates. But it still expects US furniture prices to rise. Even domestically made furniture often relies on imported components, the association said.
“While many in the industry support the long-term goal of reshoring manufacturing, the reality is that it will take at least a decade to scale domestic production,” Home Furnishings Association CEO Shannon Williams said in a statement. “Permitting, training a skilled workforce and managing the higher costs of US manufacturing are significant hurdles. Applying steep tariffs during this transition period only hurts the American consumer.”
El Salvador’s president heads to Washington — 10:41 a.m.
By the Associated Press
Nayib Bukele is scheduled to visit with Trump on April 14.
Bukele posted on social media a signed letter from Trump inviting him to a meeting and thanking him for help fighting illegal immigration.
The Trump administration is paying Bukele’s government to house deportees, particularly people it accuses of being Venezuelan gang members, at one of his notorious prisons.
A White House official confirmed the date of the visit. The official was not authorized to speak publicly.
Indonesia says its exports to the US will be significantly impacted by Trump’s tariffs — 10:33 a.m.
By the Associated Press
Indonesia’s Foreign Affairs Ministry says its government is calculating the impact on its exports including electronics, textiles and textile products, footwear, palm oil, rubber, furniture, shrimp and marine fishery products, and taking “strategic steps to mitigate the negative impact on the Indonesian national economy.”
“The Indonesian government is committed to maintaining the stability of the yield of Government Securities (SBN) amidst global financial market turmoil following the announcement of the US reciprocal tariff,” the foreign ministry statement says.
Mexico’s president pleased that Trump didn’t announce new tariffs on Mexican products — 10:28 a.m.
By the Associated Press
As Mexico had hoped, the free-trade agreement it has with the United States and Canada shielded many sectors producing things covered by the treaty from avocados to clothing and electronics. Discussions continue over the 25 percent tariff the US has placed on auto imports, as well as tariffs on steel and aluminum.
“The last call I had with President Trump I said that in the case of reciprocal tariffs, my understanding was that there wouldn’t be tariffs (on Mexico), because since Mexico doesn’t place tariffs on the United States, the United States doesn’t put tariffs on Mexico,” Claudia Sheinbaum said during her morning press briefing Thursday.
Economy Secretary Marcelo Ebrard pointed out that many other countries that have free-trade agreements with the US were nevertheless targeted by the tariffs Trump announced Wednesday. Ebrard says Sheinbaum’s strategy worked, “because today we do have preferential treatment.”
Trump’s dramatic changes haven’t emerged as an obvious political winner or loser — 10:04 a.m.
By the Associated Press
The latest AP-NORC numbers on his changes to government are almost identical to Trump’s overall presidential approval, suggesting that his Republican administration’s moves to fire thousands of federal workers, close Social Security Administration field offices, effectively shutter entire agencies and cancel thousands of government contracts haven’t yet created a significant independent backlash — or spurred independent support.
Views of Trump and his adviser Elon Musk are still largely intertwined, despite Democrats’ recent focus on Musk. The two men suffered a defeat on Tuesday when the conservative candidate they had endorsed for the Wisconsin Supreme Court was defeated. Musk and the groups he backed spent more than $21 million in the race, the first major test of how voters feel about Musk’s political impact.
Marco Rubio seeks to reassure wary NATO allies of US commitment — 9:43 a.m.
By the Associated Press
The US secretary of state and newly confirmed US ambassador to NATO Matt Whitaker are in Brussels for a meeting of alliance foreign ministers.
Many are hoping Rubio will clarify Trump’s intentions for US security in Europe amid persistent signals from Washington that NATO as it has existed for 75 years may no longer be relevant.
“The United States is as active in NATO as it has ever been,” Rubio told reporters as he greeted NATO chief Mark Rutte before the meeting began, dismissing media reports about the Trump administration’s policy shifts as unwarranted “hysteria and hyperbole.”
“President Trump’s made clear he supports NATO,” Rubio said. “We’re going to remain in NATO.”
Financial markets around the world are reeling — 9:41 a.m.
By the Associated Press
And the US stock market may be taking the worst of it.
The S&P 500 was down 3.3 percent in early trading Thursday, more than the losses seen in other major markets. The Dow Jones Industrial Average was down 1150 points, and the Nasdaq composite was off 4.3 percent.
Little was spared as fear flares globally about the potentially higher inflation and weakening economic growth that tariffs can create.
Prices fell for everything from crude oil to Big Tech stocks to small companies that invest only in US real estate.
White House to weigh in on TikTok fate before Saturday deadline — 9:40 a.m.
By the Associated Press
Vance says the president will have something to say about the popular social media site before his reprieve on the congressionally-approved ban of the platform expires.
“We have a couple days to continue working on it, to finalize some things. And of course, we’ll let the president announce whatever we ultimately decide,” Vance said on Fox & Friends.
Trump on Inauguration Day gave the platform a reprieve, barreling past a law that had been upheld unanimously by the Supreme Court, which said the ban was necessary for national security.
Under the law, TikTok’s Chinese-owned parent company ByteDance is required to sell the platform to an approved buyer or take it offline in the United States.
JD Vance urges Americans to be patient as markets slide — 9:11 a.m.
By the Associated Press
The vice president appeared on Fox & Friends, saying it will take some time for Trump’s tariffs, spending cuts and support for US industries to help everyday Americans. “We are not going to fix things overnight,” Vance said.
“Frankly, a lot of people have gotten rich from American jobs moving overseas,” Vance said. “But American workers have not gotten rich. And frankly, American companies have not gotten wealthy from the increasing growth of foreign competitors manufacturing overseas.”
“We know people are struggling. We’re fighting as quickly as we can to fix what was left to us, but it’s not going to happen immediately. But we really do believe that if we pursue the right deregulation, we pursue those energy cost reducing policies — Yes, people are going to see it in their pocketbook. They’re also going to benefit from the fact that foreign countries can’t take advantage of us anymore.”
Americans eat fresh fruit year-round thanks to imports from the Global South — 9:05 a.m.
By the Associated Press
The sweeping tariffs declared by Trump could increase prices for Americans who depend on citrus from 1400 producers across southern Africa, according to Boitshoko Ntshabele, chief executive of the Citrus Growers Association in Johannesburg.
“South Africa does not compete with the citrus producers of the US,” Ntshabele said. “In fact, quite the opposite — we sustain customers’ interest when their local citrus is out of season, benefitting US citrus growers in the end.”
South African President Cyril Ramaphosa said Trump’s 30 percent tariffs on US imports of South African products shows the urgent need for a new bilateral trade deal.
Canned peaches in the US more likely came from Greece. Trump’s tariffs could reverse that — 8:46 a.m.
By the Associated Press
Greece’s exports of canned peaches to the United States in 2020 were worth $35.3 million and soared to $105 million in 2024. The new 20 percent tariff, on top of existing duties, could reverse those gains, according to Christos Giannakakis, vice president of Venus, one Greece’s largest peach canning cooperatives.
“This creates a huge problem,” Giannakakis told the Associated Press. “It means reduced exports, lower revenue and shrinking production.”
Trump said his decision to impose sweeping import tariffs will boost American industries.
Trump’s Thursday schedule — 8:37 a.m.
By the Associated Press
At 1 p.m., Trump will receive his intelligence briefing in the Situation Room. After, at 2 p.m., he will travel to Florida to attend an event for LIV golf this evening. He will then head to his home at Mar-a-Lago, according to the White House.
Norway’s foreign minister says tariffs hurt NATO allies — 8:16 a.m.
By the Associated Press
Norway’s Foreign Minister Espen Barth Eide said the new US tariffs may violate NATO’s Article 2, which stresses the importance of economic cooperation among allies to avoid conflict.
“If you want a strong NATO, you should ensure that there is as much economic growth as possible in the NATO countries. That was the insight of those who established NATO, that economic cooperation would be good for the entire alliance,” Eide said during a visit to Brussels for a NATO meeting, according to the NRK broadcaster.
Eide told NRK that he will raise the tariff war with US Secretary of State Marco Rubio during the meeting.
Polish prime minister says tariffs may shave off 0.4% of GDP — 8:26 a.m.
By the Associated Press
Polish Prime Minister Donald Tusk said the new US tariffs many reduce Poland’s GDP by 0.4 percent.
He said it was “a severe and unpleasant blow, because it comes from the closest ally, but we will survive it.” The Polish-US friendship, he added, “must also survive this test.”
Spanish PM announces measures to mitigate US tariffs — 8:24 a.m.
By the Associated Press
Spanish Prime Minister Pedro Sánchez said Thursday that his government will implement a $15.6 billion spending package to mitigate the effects of US tariffs on the eurozone’s fourth-largest economy.
The Spanish leader called the tariffs “19th-century protectionism,” against which the European Union and Spain had to act proactively and diversify their economic ties with the rest of the world.
Sánchez also called for a negotiated solution with the US. “We’re once again asking President Trump to reconsider, to sit down at the negotiating table with the European Union and also with the rest of the world.”
Australia puzzled by tariffs on remote islands — 8:20 a.m.
By the Associated Press
The local government leader of Christmas Island, one of several Australian external island territories that like Australia have been assigned a 10 percent US tariff, said his Indian Ocean atoll exported nothing to the United States.
The Australian outpost of fewer than 2,000 people 225 miles south of the Indonesian capital Jakarta has used US heavy machinery to mine phosphate for decades, Christmas Island Shire President Gordon Thomson said.
The uninhabited Heard and McDonald Islands in the remote Antarctic are another Australian territory included in the 10 percent tariff. The mostly barren islands include two active volcanoes and can only be reached by sea.
Australian Prime Minister Anthony Albanese said Australia imposes no tariffs on US imports. The US and Australia have a free trade agreement.
Hong Kong urges US to withdraw tariffs — 8:17 a.m.
By the Associated Press
Hong Kong strongly opposed the extra tariffs announced by Trump and urged the US to withdraw them. It said Hong Kong, as a free port, always practices free trade and doesn’t impose tariffs on imported goods, including those from the US.
It said the US had a trade surplus of $271.5 billion with the semiautonomous Chinese territory over the past decade, the highest among its global trading partners.
“The US imposing tariffs on Hong Kong products as so-called reciprocal tariffs defies logic,” Hong Kong’s government said in a statement, adding that it would take measures including filing complaints with the WTO.
Hong Kong, a former British colony returned to China in 1997, has a different economic and political system from mainland China that allows it to set its own policies most of the time.
India wants to expedite trade talks with US — 8:10 a.m.
By the Associated Press
India’s Trade Ministry is assessing the latest US tariffs announced by President Trump. It said the Indian government strives to expedite the negotiations for a trade agreement with the US to potentially garner some concessions and offset the impact of higher import taxes.
The agreement, first tranche of which is expected to be in place by the fall, would focus on enabling both nations to boost trade, investments and technology transfers in addition to deepening supply chain integrations, it said.
“We remain in touch with the Trump administration and expect to take them forward in the coming days,” it said.
The US was New Delhi’s biggest trading partner in 2024 with trade estimated at $129 billion. The countries have now set an ambitious target of more than doubling their bilateral trade to $500 billion by 2030.
Stock market in Vietnam plunges and people rush to buy gold — 7:57 a.m.
By the Associated Press
Vietnam’s stock market plunged Thursday while gold prices reached a record high after US President Trump slapped 46 percent tariffs on Vietnam’s exports. Meanwhile people lined up to buy gold in Hanoi despite the high prices.
“Investing in gold would be at lower risk because the economy is very uncertain at the moment,” said Nguyen Trung, a buyer.
Vietnam has long realized that it was too reliant on the US and has been diversifying its trade relations by signing free trade agreements with over a dozen countries, said Dan Martin, international business adviser of Dezan Shira & Associates.
“The lesson is clear now, the reliance that Vietnam had as a US export market, it’s not safe,” he said.
Especially hard-hit will be the garments and sportswear section, including household names like Adidas and Nike. Nike made of its shoes and about a third of its clothes in Vietnam last year, while factories in Vietnam made 39 percent of Adidas’s shoes and 18 percent of its clothes.
US tariffs on goods from Vietnam among the highest on any country — 7:57 a.m.
By the Associated Press
Vietnam’s Prime Minister Pham Minh Chinh said that the country still hoped to reach its economic growth target of at least 8 percent despite the Trump administration imposing 46 percent tariffs on its exports.
Chinh chaired a Cabinet meeting Thursday to assess the impact of the tariffs, among the highest imposed on any country, and said that Vietnam hoped that US policy would be “consistent with the good relations between the two countries.” He added that Vietnam was still overcoming the consequences of the long war between the two nations.
The tariffs will deal a severe blow to Vietnam since the US is its largest export market. Exports to the US, valued at $142 billion, in 2021 made up a third of the country’s GDP.
German minister calls Trump’s tariffs the most disruptive in 90 years — 7:55 a.m.
By the Associated Press
Germany’s economy minister, Robert Habeck, said that these are “the most disruptive tariff increases for 90 years.” He also drew a comparison with the fallout from Russia’s full-scale invasion of Ukraine in 2022.
“I think this is an extraordinary day for the world economy, comparable with the situation after the Russian aggression on Ukraine, where we knew that something new was happening and we were not prepared in Europe to cope with the challenge,” Habeck told reporters in Berlin. “And we looked in(to) the abyss in that time, but we worked it out and we managed it by putting aside everything that was restricting economic strength and energy security.”
“I think a similar reaction is necessary now from the European Union and its world partners,” Habeck said.
Ukrainian minister says her country can get better tariff conditions from US — 7:52 a.m.
By the Associated Press
Ukraine is working to get better tariff conditions from the United States, Ukrainian Economy Minister Yuliia Svyrydenko wrote on her X account.
Svyrydenko says Ukrainian tariffs on US goods are “quite low” and that Ukraine imported more goods from the US in 2024 than exported to the country.
She said the 10 percent tariff Trump imposed on Ukrainian goods will mainly impact small producers. “Ukraine has something to offer the United States as a reliable ally and partner. Both our countries will benefit from fair tariffs,” she wrote.
Japan PM regrets US tariffs and says ready to negotiate with Trump — 7:46 a.m.
By the Associated Press
Japanese Prime Minister Shigeru Ishiba said it was “extremely regrettable” that the United States slapped the 25 percent auto tariff on Japan despite its huge contribution to the US economy.
Japanese companies have been the world’s biggest investors in the US since 2019, especially automakers, creating jobs for millions of Americans, Ishiba said.
Ishiba said Japan will continue to strongly request the United States to reconsider its tariffs measures and that he will directly negotiate with President Trump, whenever it is considered appropriate. “I will do so at a most appropriate time and method without hesitation.”
German minister calls Trump’s tariffs the most disruptive in 90 years — 5:35 a.m.
By the Associated Press
Germany’s economy minister, Robert Habeck, said that these are “the most disruptive tariff increases for 90 years.” He also drew a comparison with the fallout from Russia’s full-scale invasion of Ukraine in 2022.
“I think this is an extraordinary day for the world economy, comparable with the situation after the Russian aggression on Ukraine, where we knew that something new was happening and we were not prepared in Europe to cope with the challenge,” Habeck told reporters in Berlin. “And we looked in(to) the abyss in that time, but we worked it out and we managed it by putting aside everything that was restricting economic strength and energy security.”
“I think a similar reaction is necessary now from the European Union and its world partners,” Habeck said.
The Trump administration took away unspent relief funds from Mass. districts. Here’s how much each lost. — 5:28 a.m.
By Christopher Huffaker, Globe Staff
New Bedford’s school children struggle with high rates of childhood obesity, asthma, and mental health challenges. Many have no access to a dentist.
District leaders are close to bringing a school-based health center, the first in all of Bristol County, to reality. The project received all its needed regulatory approvals and reached an operating agreement with Greater New Bedford Health Center, which would provide needed primary care, dental, and mental health services to the district’s students and families. School leaders hope the project will also improve school engagement and even achievement by binding families closer to their schools and managing chronic health problems.
Now, all of that was put in jeopardy Friday when the Trump administration announced it was terminating more than $100 million in unspent COVID relief funds to Massachusetts schools. New Bedford would lose $15.6 million, according to state figures. The district depended on about $4 million of those relief funds, known as ESSER, to build the center. While the district has some reserves to cover other projects that are near completion, the health center may now be on the chopping block, according to Superintendent Andrew O’Leary. So, too, is a much-needed HVAC addition to a school built in the 1970s.
Ukrainian minister says her country can get better tariff conditions from US — 5:25 a.m.
By the Associated Press
Ukraine is working to get better tariff conditions from the United States, Ukrainian Economy Minister Yuliia Svyrydenko wrote on her X account.
Svyrydenko says Ukrainian tariffs on US goods are “quite low” and that Ukraine imported more goods from the US in 2024 than exported to the country.
She said the 10 percent tariff Trump imposed on Ukrainian goods will mainly impact small producers. “Ukraine has something to offer the United States as a reliable ally and partner. Both our countries will benefit from fair tariffs,” she wrote.
Rubio arrives for NATO talks as allies wait to learn of US plans for a likely drawdown in Europe — 3:15 a.m.
By the Associated Press
US Secretary of State Marco Rubio and the Trump administration’s new envoy to NATO arrived Thursday in Brussels, where the alliance’s top diplomats are hoping they’ll shed light on US security plans in Europe.
European allies and Canada are deeply concerned by President Trump’s readiness to draw closer to Russian leader Vladimir Putin, who sees NATO as a threat, as the US works to broker a ceasefire in Ukraine.
British officials say they will push to secure a free trade deal with US — 2:44 a.m.
By the Associated Press
The British government says it will push to secure a free trade deal with the United States rather than retaliate after Trump slapped a 10 percent tariff on UK goods.
Labelling the announcement a “disappointment,” Business Secretary Jonathan Reynolds said “I’m pleased the UK is in a better position than other countries, but I’m not satisfied.”
Reynolds told Sky News that the message he was hearing from businesses was “remain at the table, don’t overreact.”
Britain argues that it has a broadly balanced trade relationship with the US, and has been negotiating with Washington on a trade deal in hope of escaping import taxes.
Japan’s prime minister says tariffs will have a ‘great impact’ on US-Japan relations — 2:41 a.m.
By the Associated Press
Japanese Prime Minister Shigeru Ishiba says the tariffs are a matter of great concern and stressed that Japan’s contributions to the American economy are significant both in terms of investment and jobs.
He said he repeatedly made his case with the Trump administration not to move ahead with the tariffs.
“They will have a great impact not only on US-Japanese economic relations but also on the global economy and various trade relations overall,” Ishiba told reporters Thursday.
“We as the government will work as one to decisively protect people’s lives, jobs and industries,” he added.
South and Southeast Asia are targeted with some of the highest tariff rates — 12:45 a.m.
By the Associated Press
Vietnam, Sri Lanka and other countries across South and Southeast Asia are the targets of some of the highest tariff rates.
Trump imposed 46 percent “reciprocal” duties on goods from Vietnam, 49% on products from Cambodia, 37 percent on Bangladesh and 44 percent on Sri Lanka.
The duties will affect domestic exporters to the US but also Chinese, Japanese and South Korean companies that have over the past few years shifted production to Southeast Asian nations to escape the trade frictions during Trump’s first term in office.
Automaker Stellantis will shut down its assembly plant in Windsor, Canada, for 2 weeks — 12:29 a.m.
By the Associated Press
Automaker Stellantis will shut down its assembly plant in Windsor, Canada, for two weeks from April 7, the local union said late Wednesday.
The president of Unifor Local 444, James Stewart, said more scheduling changes were expected in coming weeks.
“The company said there are multiple factors at play, with the primary driver behind the final decision being this afternoon’s announcement from US President Trump of the US tariffs,” Stewart said. “This has and continues to create uncertainty across the entire auto industry. This is not just affecting our plant—it’s impacting facilities in the U.S. and Mexico as well.”
Auto tariffs take effect, putting pressure on new car prices — 12:24 a.m.
By The New York Times
Tariffs on imported vehicles took effect Thursday, a policy President Trump said would spur investments and jobs in the United States but that analysts say will raise new car prices by thousands of dollars.
The 25 percent duty applies to all cars assembled outside the United States. Starting May 3, the tariff will also apply to imported auto parts, which will add to the cost of cars assembled domestically as well as auto repairs.
There will be a partial exemption for cars made in Mexico or Canada that meet the terms of free trade agreements with those countries. Carmakers will not have to pay duties on parts such as engines, transmissions or batteries that were made in the United States and later installed in cars in Mexican or Canadian factories.
Measuring the cost of extending Trump’s tax cuts becomes a flashpoint in Congress — 12:17 a.m.
By the Associated Press
An obscure but consequential bookkeeping matter has become the latest flashpoint in Congress as Republicans labor to enact President Trump’s sprawling tax cut agenda.
Senate Republicans are looking to change how extending many of Trump’s 2017 tax cuts would be scored when it comes to future federal deficits. The Congressional Budget Office has projected that extending the cuts would increase deficits by nearly $4 trillion over the coming decade.
Democrats accuse Republicans of violating Senate norms with the move. Senate Democratic leader Chuck Schumer, says Republicans are going “nuclear,” blowing up the institution’s rules.
The debate carries major ramifications for Trump’s agenda and the country at large, with policy decisions in the balance that could shape America’s economic and budgetary outlook for years to come.