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Trump's Tariffs Cause Global Upheaval

Trump's Tariffs Cause Global Upheaval

Your unbiased daily news brief

James Kratch
April 03, 2025

Good Thursday morning. Remember the massive asteroid that scientists briefly thought could hit Earth? There is now a slim chance it will threaten the moon. Have a great day.

In Today’s Brief

California: Rare attack
Gaza: Safety corridor
Musk: Exit rumors
Amazon: TikTok bid
Netflix: Big sequel

... and more

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Top Tips

1) Tariff man

President Donald Trump has sent the world into a tizzy.

What happened: The president rolled out his reciprocal tariffs during his "Liberation Day" event in the White House's Rose Garden. All nations got hit with a baseline 10% tax on imports; many nations face much steeper duties, including key allies and trading partners. Trump claimed the U.S. has been "looted, pillaged, raped and plundered by nations near and far, both friend and foe alike" for decades.
Key stats: China faces at least a 34% tariff. India (26%), South Korea (25%) and Japan (24%) were also hit hard. The European Union will have a 20% tariff. Australia and the United Kingdom were among the nations that only got a 10% tariff; Canada and Mexico were not included in the presentation, but the White House said they face 25% tariffs. Laos was hit with the steepest tariff at 48%.
The reaction: World leaders expressed outrage and threatened retaliatory actions. The Senate passed a largely ceremonial resolution with some Republican support calling for the reversal of Canadian tariffs. Major index futures plummeted amid fears of a global trade war, an economic recession in the U.S., and higher consumer prices. One Wall Street analyst said the tariffs were "worse than the worst case scenario."
Big picture: There is -- as there always is with Trump -- room to negotiate. The baseline tariffs do not take effect until Saturday while the heavier taxes kick in next Tuesday. The president has also repeatedly announced significant tariffs and then delayed them or only briefly implemented them. But the 25% tariff on all imported cars is already in effect.

2) Grudge killing

Police in California said a man's hatred for large pharmacies led him to murder.

The news: Narciso Gallardo Fernandez, 30, is accused of entering a Walgreens location in Madera and opening fire, killing an employee. He also allegedly shot at other patrons and workers, but no one was injured. Fernandez was apprehended in the store's parking lot while re-loading his weapon.
The motive: Cops said Fernandez did not know his victim, but he appears to have driven 80 miles to commit the crime; the town is about 25 miles outside of Fresno. Fernandez told police he had a grudge against Walgreens and other pharmacy chains. The victim was not a pharmacist.
Big picture: Fernandez is being held on $3M bail; he has pleaded not guilty. Police said they have seen no evidence suggesting the act was inspired by Luigi Mangione's assassination of UnitedHealthcare CEO Brian Thompson last year in New York. The Justice Department recently said it will seek the death penalty against Mangione.

3) Val Kilmer: 1959-2025

The acclaimed and versatile actor has died at 65.

The news: Kilmer succumbed to pneumonia in Los Angeles, according to his family. The actor previously had tracheotomy surgery after a battle with throat cancer, but he was in remission when he died. Kilmer had reportedly been bedridden for years due to the aftereffects of cancer treatment.
The filmography: Kilmer was known for a wide range of roles; late film critic Roger Ebert once said he was the most unsung leading man of his generation. He was best known for his work in Top Gun, Batman Forever, Heat, The Doors and True Romance, among other works. His life and career were the subject of a celebrated documentary in 2021. Kilmer made his final on-screen appearance in Top Gun: Maverick.
The reaction: Kilmer had a reputation for being difficult to work with, but many in Hollywood offered effusive praise. Director Francis Ford Coppola said he was "a wonderful person to work with and a joy to know," while actor Josh Brolin called him "a smart, challenging, brave, uber-creative firecracker."

Quick Tips

U.S. News

A 15-year-old girl survived a rare sea lion attack in California. The victim was training to be a lifeguard in Long Beach; she was bitten on her arm and is out of the hospital (More)
The Supreme Court unanimously upheld an FDA decision on flavored e-cigarettes and vapes. The agency has refused to authorize the products due to concerns over their appeal to children, severely limiting availability (More)
A Texas high school athlete was stabbed to death at a school track and field meet. The male victim reportedly had a confrontation with another teenager over a seat at the event; a 17-year-old boy faces murder charges (More)

World News

Israel's military is creating a new security corridor in Gaza, cutting off the city of Rafah from the rest of the enclave. The move is designed to place further pressure on Hamas to free all remaining hostages (More)
South Korea's Constitutional Court will rule on President Yoon Suk Yeol's impeachment tomorrow. He will either be removed from office or reinstated; Yoon has been suspended for months following his failed martial law decree (More)
A city in Bolivia is overwhelmed with trash amid demonstrations against its main landfill. Officials have warned Cochabamba, which has about 600K residents, faces a severe public health crisis with Hepatitis A infections up 55% in the last week (More)

Political News

President Trump has reportedly told confidants that Elon Musk's DOGE tenure will end in the coming weeks. The White House and the billionaire advisor denied the claims; Musk's special government employment contract ends in late May (More | More)
New York City Mayor Eric Adams' federal corruption case was officially tossed. A judge ruled the Justice Department cannot re-file charges in the future, expressing concerns about the appearance of Trump Administration leverage over the embattled mayor (More)
House Minority Leader Hakeem Jeffries threatened to sue Texas Gov. Greg Abbott regarding a delayed special House election in the state. The New York Congressman alleges Abbott is deliberately stalling the race in a reliably Democratic Houston-area district to assist Republicans' majority in the chamber (More)

Business & Markets

Major indexes closed higher yesterday. The markets closed before President Trump's tariffs announcement (Dow+0.56%, Nasdaq +0.87%, S&P 500 +0.7%)
Amazon placed a bid to buy TikTok; a consortium led by OnlyFans founder Tim Stokely has also made an offer. The social media platform could be banned in the U.S. on Saturday if Chinese parent company ByteDance does not divest (More | More)
The FAA approved United Airlines' first Starlink-enabled aircraft. The carrier will begin offering the high-speed internet service to passengers next month and plans to have it on over 300 routes by the end of the year (More)

Entertainment & Sports

A Once Upon a Time in Hollywood sequel is in the works at Netflix. Quentin Tarantino is writing the script but David Fincher will be the director; Brad Pitt will reprise his role as stuntman Cliff Booth (More)
The NFL plans to launch professional men's and women's flag football leagues. At least 10 groups have reportedly placed bids to invest; the sport will be featured at the Los Angeles Olympics in 2028 (More)
Sacramento State University plans to jump to college football's highest level. The school has filed with the NCAA to join the FBS as an independent in 2026 after playing one final FCS season this fall (More)

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