Markets are facing their worst crisis since the COVID crash after China matched President Donald °Õ°ù³Ü³¾±è’s big raise in tariffs in the U.S. president’s escalating trade war.
The S&P 500 plummeted 6% Friday, the Dow Jones Industrial Average plunged 5.5% and the Nasdaq composite dropped 5.8%.
Not even a on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.
Meanwhile, Trump on Friday said he is to give his administration more time to broker a deal to bring the social media platform under American ownership.
Here's the latest:
It’s called vote-a-rama in the Senate, and it’s just what it sounds like
The Senate is about to dive into a late night — or all-nighter — of contentious debate over the , what Trump has dubbed a “big, beautiful bill.â€
But first, amendments.
It’s a unique Senate process called “vote-a-rama†in which senators will be voting on dozens of amendments to shape the bill – mostly from Democrats trying to gut the GOP priorities and replace them with their own.
Expect proposals from the Democrats to stop °Õ°ù³Ü³¾±è’s tariffs, end tax breaks for billionaires and save Medicaid from potential cuts. None are expected to be accepted as Republicans, who have majority control of Congress, push their plan forward, and off to the House for next steps.
Navy lists books removed from Naval Academy library in new DEI purge
Books on the Holocaust, histories of feminism, civil rights and racism, and Maya Angelou’s famous autobiography, “I Know Why the Caged Bird Sings,†were among those removed from the U.S. Naval Academy’s library earlier this week, after Defense Secretary Pete Hegseth’s office ordered the school to get rid of ones that .
The Navy late Friday provided that have been take out of its library. The move marks another step in the Trump administration’s far-reaching effort to from federal agencies, including policies, programs, online and social media postings, and curriculum at schools.
Pentagon leaders turned their attention to the Naval Academy last week when a media report noted the school hadn’t removed books that promoted DEI.
Tune in: It’s Friday night live in the Senate
The pizzas have been carted in for the Republicans. Tacos on the Democratic side.
Senators are preparing to work through the night on the for °Õ°ù³Ü³¾±è’s “big†bill of tax breaks and spending cuts, despite the .
Republicans are eager to take this next step toward what they hope will be the centerpiece of the GOP domestic policy agenda.
Democrats, who as the minority party don’t have enough votes to stop the plan, at least intend to shine a bright light on the details — and drag out the process.
Columbia must give 30 days’ notice before sharing student records with Congress’ antisemitism probe
A Manhattan federal judge says Columbia University must give detained activist Mahmoud Khalil and other students 30 days’ notice before handing over any more documents to Congress as it investigates antisemitism on college campuses.
But U.S. District Judge Arun Subramanian on Friday stopped short of outright blocking the Manhattan university from providing records to the House Education and Workforce Committee, as lawyers for the activists sought.
U.S. Rep. Tim Walberg, who chairs the House committee, called the decision a “victory for credible oversight.â€
Lawyers for Khalil and the other students said the decision means they can continue pursuing their legal fight.
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Trump administration nixes plan to cover anti-obesity drugs through Medicare
°Õ°ù³Ü³¾±è’s administration has decided not to cover expensive, high-demand under the federal government’s Medicare program.
The Centers for Medicare and Medicaid Services said late Friday that it would not cover the medications under Medicare’s Part D prescription drug coverage.
°Õ°ù³Ü³¾±è’s predecessor, Joe Biden, in late November after Trump won reelection that would have extended coverage of drugs like Zepbound and Wegovy. The rule was not expected to be finalized until Trump took office.
Medicare does pay for drugs like Wegovy and need to reduce their risk of future heart attacks, strokes and other serious problems.
Interior secretary orders national parks to be open and accessible as workforce is cut
Interior Secretary Doug Burgum is directing national parks to “remain open and accessible†and says officials will ensure proper staffing to do so.
The order, issued late Thursday, also calls for a detailed review of each park’s operating hours, trail closures and other limits on visitor services.
Burgum said his department and the National Park Service “are committed to ensuring that all Americans have the opportunity to visit and enjoy our Nation’s most treasured places.â€
But park advocates and others questioned how park employees could comply, given the Trump administration’s . Fewer workers can mean shorter hours, delays, closed campgrounds, overflowing trash bins, unkept bathrooms, and risks to public safety, they say.
The park service has lost around 1,500 permanent employees since the beginning of this year, Rick Mossman, president of the Arizona-based Association of National Park Rangers, said Friday in a statement. And it’s “bracing for another reduction in force expected in the very near future.â€
US says it’s providing another $7 million for Myanmar quake victims
Criticized for a slower and smaller U.S. response than usual, the Trump administration said Friday it was providing about another $7 million to aid victims of the 7.7 magnitude quake in Myanmar, on top of the $2 million promised earlier.
State Department spokesperson Tammy Bruce announced the aid in a post on the social media site X. Bruce said the money would help stricken communities in the Southeast Asian nation with shelter, food, medical care and water.
The Trump administration has worked with Elon Musk to dismantle the main U.S. aid agency and most of its programs, and lay off almost all of its staff. While China and some other nations have sent scores or hundreds of people to help with the aftermath of the March 28 quake, the U.S. has disclosed sending only a three-member assessment team, announced days after the quake.
S&P 500 plunges 6% to close its worst week since 2020
The worldwide sell-off for financial markets slammed into a higher, scarier gear. The S&P 500 plummeted 6% Friday, the Dow Jones Industrial Average plunged 5.5% and the Nasdaq composite dropped 5.8%.
Markets are facing their worst crisis since the COVID crash after China matched President Donald °Õ°ù³Ü³¾±è’s big raise in tariffs in an escalating trade war.
TikTok deal fell apart after Trump tariff announcement, source says
Trump had a TikTok deal in place Wednesday for the app’s operations to be spun off into a new company based in the U.S. and owned and operated by a majority of American investors. Under that deal, ByteDance would maintain a minority position.
But the deal collapsed Thursday after Trump announced wide-ranging reciprocal tariffs, including against China.
ByteDance representatives called the White House to indicate that China would no longer approve the deal until there could be negotiations about trade and tariffs. That’s according to a person who spoke on the condition of anonymity to discuss the sensitive details of the negotiations.
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Associated Press reporter Aamer Madhani contributed.
Washington and Oregon are latest states to ask a court to reject order overhauling US elections
The two states made the move a day after Democratic officials in 19 others filed a similar lawsuit.
Washington Attorney General Nick Brown told a news conference that Washington and Oregon sued separately because they conduct elections entirely by mail and would be particularly harmed by the president’s efforts.
“Neither the Constitution nor any federal law gives the president authority to set rules for how states conduct elections,†Brown said.
is the fifth against since it was issued last week. The order includes 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.
White House spokesperson Harrison Fields responded on Friday, calling the proof-of-citizenship requirements “common sense†and objections from Democrats “insane.â€
Defense Secretary Pete Hegseth to travel to Panama for meetings with country leaders
The planned meeting follows recent about alleged Chinese interference with the operations of the critical Panama Canal shipping lane.
Trump has spoken negatively about the U.S. move more than 20 years ago to relinquish control of the waterway to Panama, and has threatened to retake it. He has argued that the U.S. was being overcharged for using it.
Sean Parnell, chief Pentagon spokesperson, said Hegseth will participate in the 2025 Central American Security Conference. He said Hegseth will be in meetings that “will drive ongoing efforts to strengthen our partnerships with Panama and other Central American nations toward our shared vision for a peaceful and secure Western Hemisphere.â€
Judge blocks Trump from dismantling agency that funds community groups in Latin American countries
A federal judge agreed on Friday to block the Trump administration from dismantling the Inter-American Foundation, an independent agency that distributes grant money to community development groups in Latin American and Caribbean countries.
U.S. District Judge Loren AliKhan ruled that the administration doesn’t have the authority to remove the head of the group. Congress created the foundation more than 50 years ago. It has disbursed $945 million to thousands of grant recipients in roughly three dozen countries.
AliKhan, who President Biden appointed, found that only the foundation’s board can fire its head.
“Because neither President Trump nor Mr. Marocco had the authority to fire her from her position as the president of the IAF, Ms. Aviel is likely to succeed on the merits of her case,†AliKhan wrote.
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TikTok creators react to the deadline extension
Terrell Wade, a comedian and content creator with 1.5 million followers on TikTok, is relieved to hear that the platform will continue to operate in the U.S., but he’s also been hedging his bets by growing his presence on other services.
“I’m glad there’s an extension, but to be honest, going through this process again feels a bit exhausting,†he said.
Singer Ellise Gitas, 26, who goes by the mononym Ellise, agrees that the unpredictability of the social platform’s status makes planning difficult.
“The whiplash of uncertainty around TikTok has been creatively draining for myself and many other musicians,†she said. “Artists need stability to build momentum, and right now, it feels like we’re being asked to sprint on a moving treadmill.â€
Judge blocks Trump from dismantling agency that funds community groups in Latin American countries
A federal judge agreed on Friday to block the Trump administration from dismantling the Inter-American Foundation, an independent agency that distributes grant money to community development groups in Latin American and Caribbean countries.
U.S. District Judge Loren AliKhan ruled that the administration doesn’t have the authority to remove the head of the group. Congress created the foundation more than 50 years ago. It has disbursed $945 million to thousands of grant recipients in roughly three dozen countries.
AliKhan, who President Biden appointed, found that only the foundation’s board can fire its head.
“Because neither President Trump nor Mr. Marocco had the authority to fire her from her position as the president of the IAF, Ms. Aviel is likely to succeed on the merits of her case,†AliKhan wrote.
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US has twice as many measles cases so far this year than in all of 2024
The once common, vaccine-preventable virus continues to spread in active outbreaks in at least five states.
Health experts in Texas and elsewhere have said the outbreak could the U.S.’s status as having eliminated measles spread.
The new count Friday from the U.S. Centers for Disease Control and Prevention comes as a proposal to cut billions of dollars of health funding .
Health Secretary Robert F. Kennedy Jr. has delivereda on the importance of vaccination against measles, saying it should be encouraged while also claiming the shots cause “deaths every year.†The measles, mumps and rubella vaccine has been used safely to prevent illness for more than 60 years and is 97% effective against measles after two doses.
More than 500 law firms sign brief criticizing °Õ°ù³Ü³¾±è’s executive orders targeting legal community
Friday’s legal brief supports the law firm of Perkins Coie in its challenge to a Trump executive order meant to punish its attorneys. It urges the judge to permanently block the order.
Perkins Coie is among roughly a half-dozen law firms subject to the order, which seeks to suspend lawyers’ security security clearances, terminate federal contracts and block access to federal buildings. The firm won a court order temporarily blocking enforcement of several provisions, but its court case is still pending.
The brief says the executive order poses a “grave threat to our system of constitutional governance and to the rule of law itself.â€
EU trade commissioner met with Trump officials, says ’The EU-US trade relationship needs a fresh approachâ€
Maros Sefcovic said he had a “frank†two hour discussion Friday with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, and told them the US tariffs are damaging and unjustified.
“EU’s committed to meaningful negotiations but also prepared to defend our interests,†Sefcovic wrote on X. In terms of concrete results from the discussion, Sefcovic could only offer, “We stay in touch.â€
Trump picked 20% as his rate for taxing European imports as part of a sweeping set of tariffs on countries that trade with the US.
EU officials have said they’re ready to negotiate to rescind or modify the European Union’s response, but will otherwise impose retaliatory tariffs on a range of U.S. goods.
The US must return a Maryland man mistakenly deported to an El Salvador prison, judge says
Kilmar Abrego Garcia was expelled last month despite a court order shielding him from deportation to his native El Salvador, where he faced likely persecution by local gangs.
Federal prosecutors he was mistakenly put on the plane, but they can’t get him back now because the Salvadoran national is outside U.S. jurisdiction.
U.S. District Judge Paula Xinis described his deportation as “an illegal act†and questioned why he was sent to a Salvadoran prison where observers say human rights abuses are routine. “Why is he there, of all places?†the judge asked.
The ruling came after Abrego Garcia’s wife, a U.S. citizen, joined dozens of supporters at a rally urging his immediate return.
The White House has alleged that he’s a member of the His lawyers say there’s no evidence of that.
Judge moves legal case of detained Turkish Tufts University student to Vermont
A federal judge has moved a case involving a Tufts University doctoral student being held at an immigration facility in Louisiana to Vermont.
Rumeysa Ozturk, who is from Turkey, was taken into custody as she walked along a street in a Boston suburb on March 25. After being taken to New Hampshire and then Vermont, she was moved to an Immigration and Customs Enforcement detention center in Basile, Louisiana.
Justice Department lawyers had argued that Ozturk’s petition was filed in the wrong state, that it should be dismissed and that her case should go before an immigration judge.
A judge on Friday moved the case to Vermont, where Ozturk was being held at the time her lawyers filed the petition seeking her release.
Ozturk is among several people with ties to American universities who attended demonstrations or publicly expressed support for Palestinians during the war in Gaza and who recently had visas revoked or have been stopped from entering the U.S.
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The Energy Department identifies thousands of ‘nonessential’ positions at risk of DOGE cuts
These workers would not be protected if there is another round of large-scale firings, according to a document obtained by The Associated Press.
The jobs at risk include more than 8,500 positions across the Energy Department and the — which upgrades and maintains the nation’s nuclear warheads. It was not immediately clear if every position identified as nonessential would be eliminated
Trump abruptly fires the 4-star general who led the National Security Agency
That’s according to U.S. officials and members of Congress. The White House and the Pentagon have provided no reasons for the move.
Senior military leaders were informed Thursday of the firing of Air Force Gen. Tim Haugh, who also oversaw the Pentagon’s Cyber Command, the officials said. They received no advance notice about the decision to remove a four-star general with a 33-year career in intelligence and cyber operations, according to the officials, who spoke on the condition of anonymity to discuss personnel decisions.
The move has triggered sharp criticism from members of Congress. This latest dismissal of national security officials by Trump comes as his Republican administration faces criticism over his failure to take any action against other key leaders’ use of an unclassified Signal messaging chat that included The Atlantic Editor-in-Chief Jeffrey Goldberg to discuss plans for a military strike.
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Associated Press reporter Lolita C. Baldor contributed.
Congress members demand answers on °Õ°ù³Ü³¾±è’s NSA firings
Members of Congress are condemning °Õ°ù³Ü³¾±è’s decision to abruptly fire the director and deputy director of the National Security Agency. They’re demanding explanations.
U.S. Rep. Jim Himes, ranking member of the House Intelligence Committee, sent a letter to Director of National Intelligence Tulsi Gabbard and Secretary of Defense Pete Hegseth asking why Gen. Timothy Haugh and his deputy Wendy Noble were fired.
“Public reporting suggests that your removal of these officials was driven by a fringe social media personality, which represents a deeply troubling breach of the norms that safeguard our national security apparatus from political pressure and conspiracy theories,†Himes, D-Conn., wrote.
Far-right activist and appeared to take credit for the firings Friday in a post on X, saying she raised concerns to Trump about Haugh’s ties to and the Biden administration and questioned the NSA chief’s loyalty to the president.
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Leading US Jewish group suggests Trump crackdown on foreign students has gone too far
The CEO and national director of the Anti-Defamation League said it’s important to preserve the civil rights of protesters
“We should be holding people accountable for actual crimes, not Orwellian thoughtcrimes,†Jonathan Greenblatt wrote in a Thursday op-ed for the website .
The State Department has been revoking visas for international students in a crackdown on pro-Palestinian activism, and Greenblatt said it “hasn’t been even remotely clear†that their due process rights have been upheld.
The op-ed marks a shift from the ADL’s statement supporting the Trump administration’s first arrest of a Columbia University student.
“We appreciate the Trump Administration’s broad, bold set of efforts to counter campus antisemitism,†the ADL posted on X on March 9. That post also called for due process in “any deportation action or revocation of a Green Card or visa.â€
States sue over billions of dollars in delayed NIH research
Sixteen states sued the Trump administration Friday for disrupting research funding from the National Institutes of Health, citing billions of dollars of science in limbo.
The lawsuit filed in federal court in Boston challenges “unreasonable and intentional delays†in grant applications — many that , such as possible Alzheimer’s-preventing drugs — as well as terminations of already-issued grants.
Since January, required meetings to review NIH grant applications have been repeatedly canceled or postponed. The suit also says NIH has withheld final approvals of grants that had already passed initial steps — and withheld payments for multi-year projects that are supposed to be automatically renewed.
The suit, the latest in a string of lawsuits against and mass firings, argues that this violates congressional allocations.
Dow plunges 2,100 in a worsening global sell-off after China retaliates against Trump tariffs
The worldwide sell-off for financial markets is slamming into an even higher, scarier gear.
The S&P 500 tumbled 5.7% Friday, the Dow Jones Industrial Average plunged 2,100 points and the Nasdaq composite dropped 5.7%. Markets are facing their worst crisis since the COVID crash after China matched °Õ°ù³Ü³¾±è’s big raise in tariffs in an escalating trade war.
Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide. The price of oil slid to its lowest level since 2001.
Sell-off worsens worldwide and Dow drops 1,700 after China retaliates against Trump tariffs
Stock markets worldwide are careening even lower Friday after °Õ°ù³Ü³¾±è’s in tariffs in an . Not even a on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.
The S&P 500 was down 4.8% in afternoon trading, after earlier dropping more than 5%, following its wrecked the global economy in 2020. The Dow Jones Industrial Average was down 1,714 points, or 4.2%, as of 2:12 p.m. Eastern time, and the Nasdaq composite was 4.9% lower.
So far there are few, if any, winners in financial markets from the trade war. European stocks saw some of the day’s biggest losses, with indexes sinking more than 4%. The price of crude oil tumbled to its lowest level since 2021. Other basic building blocks for economic growth, such as copper, also saw prices slide on worries the trade war will weaken the global economy.
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Federal judge orders FEMA to comply with his order to release millions in funding to states
Despite Judge John McConnell’s preliminary injunction last month requiring the Federal Emergency Management Agency funding to resume, nearly two dozen states said they have not received any “significant dispersal of funds since February.â€
The federal government argued the delays were not tied to a directive from the White House Office of Management and Budget — which was the subject of the lawsuit — but rather a FEMA decision to add “internal controls†to prevent fraud and abuse.
McConnell sided with the states who argued there has been no processing of awards and that FEMA’s review process was based “covertly†on an executive order from Trump on immigration that among other things targeted so-called sanctuary cities.
Data obtained by AP shows 20% vacancy rates at nearly half of National Weather Service offices; experts warn on safety
An analysis of all 122 National Weather Service field offices following Trump administration also shows eight offices missing more than 35% of their staff as severe weather chugs across the nation’s heartland, according to detailed vacancy data obtained by The Associated Press.
The weather offices issue up-to-the-minute warnings during dangerous storm outbreaks such as the tornadoes that this week and this weekend’s “catastrophic†flooding. But staffing shortages and continued severe weather left meteorologists at the Louisville office unable to immediately survey tornado damage to improve future forecasts.
“It’s a crisis situation,†said Brad Coleman, a past president of the American Meteorological Society.
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Trump to extend TikTok closure delay
Trump on Friday posted on his Truth Social media site that he would sign an executive order to keep TikTok “up and running†for another 75 days.
“We do not want TikTok to ‘go dark,’†he said. “We look forward to working with TikTok and China to close the Deal.â€
Congress had mandated that the platform be divested from China by Jan. 19 or barred in the U.S. on national security grounds, but Trump moved unilaterally to extend the deadline to this weekend, as he sought to negotiate an agreement to keep it running.
US Attorney General predicts a Supreme Court victory on deportation flights
Pam Bondi defended the Trump administration’s actions to rush hundreds of immigrants to El Salvador while a federal judge sought to block their deportations.
Whether the Trump administration ignored U.S. District Judge James Boasberg’s orders to turn around planes deporting immigrants is a question likely to land before the Supreme Court, Bondi said. And if it does, she anticipates a Trump administration victory.
When asked at a Fort Lauderdale press conference whether she was involved in that decision to ignore Boasberg’s order, Bondi did not answer.
“We should be concerned about the victims of these crimes here in our states more than these defendants,†Bondi said.
Senators gripe at tariff restrictions, express optimism for change in policy
“We’ve heard from businesses across New Hampshire, from the tourism industry to manufacturing, who are very worried about the ability to continue to operate, about the losses that they’re incurring,†said Sen. Jeanne Shaheen.
Some said the uncertainty led their Canadian suppliers and customers to cancel contracts, the New Hampshire Democrat said.
But some GOP senators expressed optimism over the tariffs levied against U.S. trading partners.
Montana Republican Steve Daines said he’s “encouraged†by reports that the Vietnamese government is “actively engaged at the moment with the administration finding ways to lower tariffs.â€
Daines said that he hoped the White House will “find ways to reduce some of these tariff and non tariff barriers that’s affecting a lot of our American businesses, American farmers and ranchers.â€
Senate Democrats pin blame for plunging markets squarely on Trump
“Regular people cannot ride this out,†said Sen. Brian Schatz, D-Hawaii.
He noted that the first day’s trading after °Õ°ù³Ü³¾±è’s tariffs announcement was the worst in five years, and that stock values were still plummeting, wiping out retirement savings, as he prepared to speak on the Senate floor.
S&P 500 companies lost $2.4 trillion in value on Thursday, Sen. Gary Peters, D-Mich., said, and “as I speak right now, another $2 trillion lost.â€
“He’s playing poker with Americans’ livelihoods, with Americans’ retirement savings and with Americans’ hard-earned income,†Peters said.
California governor hopes trading partners won’t retaliate against his state
“California leads the nation as the #1 state for agriculture and manufacturing — and it’s our workers, families, and farmers who stand to lose the most from this Trump tax hike and trade war,†Gavin Newsom said in a statement.
“To our international partners: As the fifth largest economy in the world, the Golden State will remain a steady, reliable partner for generations to come, no matter the turbulence coming out of Washington. California is not Washington, D.C.â€
Under Newsom’s direction, the state will seek “new strategic trade relationships†with key partners, including Mexico, Canada and China, since over 40% of California imports come from the three countries, his office said.
Brazil sees other big trade agreements sidelining the US
Brazil’s Vice President Geraldo Alckmin said °Õ°ù³Ü³¾±è’s sweeping tariffs could accelerate the Mercosur–European Union trade agreement, which was signed in December and awaits ratification by each member nation in Europe and South America.
Alckmin — who also serves as Brazil’s minister of industry, development and trade — told the podcast Direto de Brasilia Thursday night that the government will continue to negotiate and doesn’t intend to use a fast-tracked retaliation bill that President Luiz Inácio Lula da Silva has yet to sign.
“It’s a good and necessary piece of legislation, but we don’t intend to use it. What we want to do is engage in dialogue and negotiation,†Alckmin said. “Even though Brazil got the lowest tariff, 10%, it’s still bad. No one wins in a tariff war.â€
Democratic leader says °Õ°ù³Ü³¾±è’s tariffs trap American families. Republican wants more dealmaking
Sen. Chuck Schumer called them “a brutal pincer movewith American families trapped in the middle.â€
“°Õ°ù³Ü³¾±è’s tariffs raise costs on one side, and °Õ°ù³Ü³¾±è’s budget cuts rob people of health care, nutrition, Medicaid, more on the other, and it squeezes them,†Schumer said.
GOP senate leaders meanwhile gave room for what they hope are presidential parleys with each nation’s leaders.
“The president is a dealmaker if nothing else, and he’s going to continue to deal country by country with each of them,†said Sen. John Barrasso, a Wyoming Republican who is no. 2 in GOP Senate leadership.
Barrasso said Treasury Secretary Scott Bessent told Senate Republicans this week that the tariffs would be a “high level mark with the ultimate goal of getting them reduced†unless other countries retaliate.
Federal Reserve chair says Trump tariffs likely to raise inflation and slow US economic growth
Jerome Powell said the tariffs and their likely are “significantly larger than expected†and are “highly likely†to lead to “at least a temporary rise in inflation.â€
“Our obligation is to ... make certain that a one-time increase in the price level does not become ,†Powell said in remarks delivered in Arlington, Virginia.
Powell’s focus on inflation suggests that the Fed will likely at about 4.3% in the coming months. He emphasized that the Fed will likely stay on the sidelines until the full impact of the tariffs on the economy become clear.
“That just seems like the right thing to do in this period of uncertainty,†Powell said.
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Federal labor unions sue Trump over union-busting executive order
The federal lawsuit filed in Oakland, California on Thursday challenges his order to end collective bargaining in agencies with national security missions.
The unions say °Õ°ù³Ü³¾±è’s March 27 order applies the national security exemption too broadly and for speaking out against his agenda.
“AFGE is not going to be intimidated by a bully who is throwing a temper tantrum because our union is beating them in the court of law and in the court of public opinion,†said Everett Kelley, national president of the American Federation of Government Employees.
The National Treasury Employees Union is challenging the same order in Washington, D.C. federal court, and the Justice Department has a pending suit in the Western District of Texas on behalf of eight federal agencies that want to end their collective bargaining agreements.
Trump pressures Fed chair Powell to cut interest rates
Trump suggested that the stock market turmoil caused by worldwide tariffs makes it the “PERFECT time†for Fed Chairman Jerome Powell to cut interest rates.
“He is always ’late, but he could now change his image, and quickly,†Trump wrote on his social media platform.
Presidents of both political parties have respected the Federal Reserve’s status as an independent agency, but Trump continues to pressure Powell. Trump nominated Powell in 2017 to serve as chair.
“CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!†he wrote.
US attorney general on MS-13 arrests: ‘We’re coming after you’
announced federal charges Friday against three men arrested last month in the 2015 killing of a man who was stabbed about 100 times and shot. The cases were reopened in 2020 after going cold.
Bondi joined law enforcement officials in Fort Lauderdale to promote the Justice Department’s efforts to go after the MS-13 gang, which the Trump administration has labeled a to justify deportations.
“More arrests are coming,†Bondi said. “If you are a gang member living in this country, I’d self-deport right now.â€
The announcement comes a week after Bondi of the alleged East Coast leader of the MS-13 gang.
Trump tariff threatens Madagascar’s vanilla industry
Madagascar’s export-dependent economy now faces one of the Trump administration’s highest tariffs, at 47%. This threatens the Indian Ocean nation’s vital vanilla industry, which exports 70% of its produce to the U.S.
The country’s textile sector, which exports 40% of its total production to US markets, is also bracing for challenging times.
Madagascan ministers are feverishly trying to limit the harm, meeting with U.S. ambassador Claire Pierangelo this week as they try to mobilize “all diplomatic and commercial levers to guarantee fair access†for the nation’s products.
Judge rebukes Wisconsin Democrat’s rapid response to Musk’s millions
The state’s Attorney General Josh Kaul had sued in a last-minute effort to stop from handing out $1 million checks to voters before the state’s , which was ultimately won by candidate Susan Crawford.
Columbia County Circuit Judge Andrew Voigt’s order dismissed Kaul’s lawsuit as “woefully deficient†and said “it is this Court’s opinion that Wisconsin’s system of justice was abused by this case.â€
The judge at Kaul’s request after the state Supreme Court rejected it without comment. Musk then , declaring them spokespeople for his political group after Kaul accused him of violating state law by inducing voters with money.
Kaul’s statement Friday says he’s proud of his “rapid action†to “help protect the integrity of the recent election.â€
College officials worry crackdown tactics will turn foreign students away
The Association of Public and Land-grant Universities is requesting a meeting with the State Department, alarmed that will persuade sought-after foreign students to stay away from the United States.
College officials say the new, harsher tactics and vague justifications being used to push some students out of the country will have .
America’s universities have long been seen as a top destination for the world’s brightest minds — and they’ve brought important tuition revenue and research breakthroughs to U.S. colleges. But international students also have other options, said Fanta Aw, CEO of NAFSA, an association of international educators.
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National Endowment for the Humanities staff getting forced leave notices, sources say
Staff members at the NEH have begun receiving notices that they have been placed on administrative leave, The Associated Press has learned. Just how many employees receiving the notices has yet to be determined, according to two officials with knowledge of the NEH’s operations. The officials were not authorized to discuss the notices and asked not to be identified.
The NEH did not immediately respond Friday to a request for comment.
The NEH, which each year provides hundreds of millions of dollars for educational and cultural projects, has also been sending notices to grant recipients informing them that their funding has been cancelled. The cutbacks follow other Trump administration moves against cultural organizations, including the Kennedy Center, the Institute of Museum and Library Services and the Smithsonian Institution.
— Hillel Italie
Dow drops another 1,000 points amid global selloff as China matches Trump's tariffs
The S&P 500 dropped 2.7% early Friday, coming off its worst day since COVID wrecked the global economy in 2020. The Dow Jones Industrial Average dropped 1,000 points, and the Nasdaq composite tumbled 3%.
Not even a better-than-expected report on the U.S. job market was enough to stop the slide.
European stocks saw some of the day’s biggest losses, and the price of crude oil tumbled to its lowest level since 2021 on worries about how a trade war could cause a recession.
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Harvard gets list of demands as feds threaten billions in funding
The letter asserts that Harvard University has “fundamentally failed to protect American students and faculty from antisemitic violence and harassment†and must take immediate action to keep receiving almost $9 billion in federal grants and contracts.
Officials at three federal agencies outlined in the letter to Harvard’s president Thursday demands including a mask ban on campus, clarified restrictions on protests and firmer enforcement of discipline policies, among others. A Harvard spokesperson said the university received the letter.
It’s similar to a demand letter that recently at Columbia University under threat of billions of dollars in cuts.
Trump defends tariff moves on social media
Although experts have harshly criticized the president’s economic policies, he’s finding support on TikTok.
He shared a video on Friday morning that said “Trump is crashing the stock market†and “he’s doing it on purpose†as part of “secret game he’s playing, and it could make you rich.â€
Trump is at Mar-a-Lago, his private club in Florida, for the weekend. In another all-caps post, Trump said he would stay the course despite fears about .
“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE. THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!†he wrote.
Later Friday morning, Trump criticized China's decision to match his tariffs with a 34% tariff on U.S. imports.
“CHINA PLAYED IT WRONG, THEY PANICKED - THE ONE THING THEY CANNOT AFFORD TO DO!†he wrote in a social media post
Wall Street appears on track for another day of crushing losses
Major U.S. indexes plunged sharply before Friday’s opening bell, then doubled their losses after
Futures for the S&P 500 fell 3.6% before the bell, while futures for the Dow Jones Industrial Average shed 3.4%, falling below the 40,000 mark. Nasdaq futures tumbled 4%. That follows Thursday’s wipeout, Wall Street’s worst day in five years.
Markets in Europe were having an even rougher time — by midday Friday, Germany’s DAX had lost 5%, the CAC 40 in Paris slipped 4.2% and Britain’s FTSE 100 gave up 3.8%.
Oil prices fell as much as 8%.
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South Africa plans to diversify exports
South Africa's government said it intends to diversify exports to cushion its economy from unilateral tariff hikes such as the 30% imposed by the U.S. this week.
International Relations Minister Ronald Lamola said the country’s diversification strategy would focus on increasing its exports to Africa, Asia, Europe and the Middle East.
“This diversification supports South Africa’s industrial strategy and reduces dependency on single destination markets for our exports or single sources for our intermediate input requirements,†said Lamola.
The U.S. is South Africa’s second largest trading partner after China, accounting for 7.45% of the country’s total exports last year, while South Africa accounted for 0.4% of total U.S. exports. South Africa has also questioned the U.S. calculations that resulted in the 30% tariff.
The tariff announcement follows the freezing of all financial assistance to South Africa through an executive order by U.S. President Donald Trump in February this year.
US tariffs calculations are not based on standard economics, analyst says
A top trade analyst says the Trump administration's calculations that led to the tariffs are “not standard economics†and in many cases impose rates far higher than those that the targeted countries apply to U.S. goods.
Julia Spies, chief of trade and market intelligence at the International Trade Center, said uncertainties remain about the exact way the U.S. Trade Representative’s office and other U.S. officials came up with the tariffs.
She said the figures presented by Trump roughly match the U.S. trade balance — or imbalance — with a specific country, divided by imports from that country, “and that, divided by two, gives us the reciprocal tariff†imposed by the U.S.
“This is not standard economics,†Spies told reporters by video to a U.N. briefing in Geneva.
The U.S. calculation included countries’ tariffs on American exports plus other regulations and policies in those countries, like currency manipulation, sanitary measures, and technical barriers to trade, and “all of that led to this – what they call ‘tariffs’.â€
The ITC, based in Geneva, is a joint agency of the United Nations and the World Trade Organization that aims to help small businesses in the developing world to trade.
China retaliates and announces a 34% tariff on imports of all U.S. products
China announced Friday that it will impose a 34% tariff on imports of all U.S. products beginning April 10, part of a flurry of retaliatory measures following U.S. President Donald °Õ°ù³Ü³¾±è’s “Liberation Day†slate of double-digit tariffs.
The new tariff matches the rate of the U.S. “reciprocal†tariff of 34% on Chinese exports Trump ordered this week.
The Commerce Ministry in Beijing also said in a notice that it will impose more export controls on rare earths, which are materials used in high-tech products such as computer chips and electric vehicle batteries.
Included in the list of minerals subject to controls was samarium and its compounds, which are used in aerospace manufacturing and the defense sector. Another element called gadolinium is used in MRI scans.
China’s customs administration said it had suspended imports of chicken from two U.S. suppliers, Mountaire Farms of Delaware and Coastal Processing. It said Chinese customs had repeatedly detected furazolidone, a drug banned in China, in shipments from those companies.
Additionally, the Chinese government said it has added 27 firms to lists of companies subject to trade sanctions or export controls.
Among them, 16 are subject to a ban on the export of “dual-use†goods. High Point Aerotechnologies, a defense tech company, and Universal Logistics Holding, a publicly traded transportation and logistics company, were among those listed.
Beijing also announced it filed a lawsuit with the World Trade Organization over the tariffs issue.
Asian and European shares slide further, US dollar takes a hit
In European trading, Germany’s DAX lost 2% to 21,289.53 after the country reported factory orders were unchanged in February as manufacturers prepared for steeper duties on their exports.
The CAC 40 in Paris slipped 1.6% to 7,478.17 while Britain’s FTSE 100 gave up 1.7% to 8,331.44.
Markets in Shanghai, Taiwan, Hong Kong and Indonesia were closed for holidays, limiting the scope of Friday’s sell-offs in Asia.
Tokyo’s Nikkei 225 lost 2.8% to 33,780.58, while South Korea’s Kospi sank 0.9% to 2,465.42.
The two U.S. allies said they were focused on negotiating lower tariffs with °Õ°ù³Ü³¾±è’s administration.
Australia’s S&P/ASX 200 dropped 2.4%, closing at 7,667.80.
In other trading early Friday, the U.S. dollar rose to 146.46 Japanese yen from 146.06. The yen is often used as a refuge in uncertain times, while °Õ°ù³Ü³¾±è’s policies are meant in part to weaken the dollar to make goods made in the U.S. more price competitive overseas. The euro edged lower, to $1.0976 from $1.1055.
China car association says prices will go up
The China Association of Automobile Manufacturers called on the U.S. to “correct its wrong actions.†It said the tariffs “will further raise car prices, and impose additional burdens on consumers in various countries including Americans and have a negative impact on global economic recovery.â€
China is one of the major exporters of car parts, many used in car repairs. For example, about 6 in every 10 auto replacement parts used in U.S. auto shop repairs are imported from Mexico, Canada and China. The new taxes are also estimated to make cars imported into the U.S. thousands of dollars more expensive.
Chinese industry groups say new tariffs destroyed normal order of trade with US
Chinese industry groups on Friday sharply criticized the U.S. tariffs as well as the closing of the de minimis loophole which had allowed low value goods to be imported tax-free.
“America’s action crudely destroyed the normal order of trade between the U.S. and China, severely impacted cooperation between global industries, and greatly harmed the rights of consumers, including American citizens,†said a statement from the China Light Industry Association, which represents the interests of light manufacturing businesses.
The tax exemption, which applies to packages valued at $800 or less, has helped China-founded e-commerce companies like Shein and Temu to thrive while the U.S. retail market.
“We call on the international community to jointly resist this trade bullying, and firmly safeguard an equal and mutually beneficial international trade system.â€
The China National Textile and Apparel Council chimed in as well, with a statement Friday saying they “supported the Chinese government’s forceful measures†as the U.S. has “Damaged the resilience of the global textile industry’s supply chain."
Vietnam says tariffs fail to reflect the spirit of the comprehensive strategic partnership
Vietnam said it regretted the U.S. decision to impose reciprocal tariff of 46% on its exports to America,
“We believe that the decision is not in line with the reality of mutually beneficial economic and trade cooperation between the two countries,†Pham Thu Hang, the spokesperson for Vietnam’s foreign ministry said Friday in a statement reported by state media.
She said Vietnam had actively engaged with the U.S. to address concerns, promote ties on trade and work towards fair, mutually beneficial trade. She added that it failed to reflect the spirit of the comprehensive strategic partnership that the two countries had signed in 2023.
Former President Joe Biden visited Hanoi when the southeast Asian nation elevated the U.S. to its highest diplomatic status, comprehensive strategic partner. At the time, Biden stressed this showed how far the relationship has evolved from what he described as the “bitter past†of the Vietnam War.
“If enforced, would negatively impact bilateral economic and trade relations as well as the interests of businesses and people in both countries,†said Hang.
The tariffs imposed on Vietnam are among the highest of any country, more than competitors like Thailand and Malaysia. Analysts say that the tariffs will harm Vietnamese export sectors like electronics, textiles, footwear and seafood.
Vietnam will continue discussions with the U.S. to “find practical solutions†for developing sustainable bilateral economic relations that ensure the interest of businesses and people in both countries.
Deputy Prime Minister and former finance minister Ho Duc Phoc is scheduled to visit the U.S. and Cuba from April 6 to 14 to discuss and negotiate on trade matters.
Vietnamese exports to the U.S. in 2024 totally nearly $120 billion, making up nearly a third of the country’s total export turnover.
Taiwan's president will support impacted industries, says tariffs ‘unreasonable’
Taiwan’s President Lai Ching-te said he will offer the “greatest support†to industries impacted by the new tariffs. Lai acknowledged that Taiwan had a trade surplus with the U.S., but that much of it came from Taiwanese industries trying to fulfill the U.S. demand for Taiwan’s information technology products.
“We feel that this is unreasonable and are also worried about the subsequent impact these measures may have on the global economy,†Lai said in a statement on his Facebook page Thursday night.
Lai said he instructed Premier Cho Jung-tai to work closely with industries that are impacted and to communicate with the public about their plans to stabilize the economy.
