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11:55 AM ET, April 3, 2025

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 Top Items: 
The Economist:
President Trump's mindless tariffs will cause economic havoc  —  But the rest of the world can limit the damage  —  If you failed to spot America being “looted, pillaged, raped and plundered by nations near and far” or it being cruelly denied a “turn to prosper”, then congratulations …
RELATED:
Paul Krugman:
Will Malignant Stupidity Kill the World Economy?  —  A quick thank you to my readers.  When I struck out on my own, I wasn't sure if anyone would follow.  But I just passed 300K subscribers.  I'll try to be worthy of your support.  —  America created the modern world trading system.
Robin Wigglesworth / Financial Times:
‘Beware a dollar confidence crisis’ — DB  —  Taking another look at the puzzling greenback puke  —  There's a lot going on at the moment, but the most interesting might be how the dollar has been absolutely tanked by yesterday's tariff news.  —  The DXY dollar index has plunged 1.7 per cent today …
Discussion: Reuters, Wausau and Tax Foundation
Heather Cox Richardson / Letters from an American:
Just five months ago, on October 19, 2024, The Economist ran a special report on America's economy.  That economy was, the magazine said, “the envy of the world.”  Today, stock market futures plummeted after President Donald J. Trump announced that he will impose a 10% tariff on all imports …
Alexandra Scaggs / Financial Times:
Reciprocal tariffs: you won't believe how they came up with the numbers  —  There is some method to the madness — it's just a nonsensical method  —  Americans were told reciprocal tariffs would be simple.  “Reciprocal, that means they do it to us, and we do it to them,” said President Donald Trump on Wednesday.
Jenny Che / Bloomberg:
France's Macron Urges EU Companies to Pause US Investments  —  French President Emmanuel Macron urged companies to pause investments in the US after President Donald Trump announced tariffs on the European Union and other regions.  —  It makes little sense for firms to invest there while the US hits …
William Kristol / The Bulwark:
Trump Calls It Liberation.  It's Destruction.  —  Guess we're really doing this, huh?  Happy Thursday.  —  ‘Trade Wars Are Good and Easy to Win’  —  by Andrew Egger  —  Have you ever seen a presidential economic address crash the economy in real time?  Before yesterday, I hadn't.
Victoria Guida / Politico:
‘This Could Get Much Uglier’: The Fatal Flaw In Trump's Trade War  —  Trump's radical tariff program is aimed at restoring U.S. manufacturing greatness.  He's getting in his own way.  —  President Donald Trump's sweeping tariff regime will completely transform America's economic relationship …
Financial Times:
Donald Trump baffles economists with tariff formula  —  Calculation deeply flawed economically and will fail in stated aim of ‘driving bilateral trade deficits to zero’, say analysts  —  Trade economists have poured scorn on the crude methodology used by Donald Trump to calculate the list of …
Discussion: Reuters, Politico, CNN, Wausau, El País and Bloomberg
Paul Krugman:
Trump Goes Crazy on Trade  —  Just a quick update after Trump's Rose Garden speech.  —  I guess it's just possible that when we get details about the Trump tariffs they will be lower than what he just announced, but based on what he said, he's gone full-on crazy.
Camille Gijs / Politico:
EU ‘prepared’ to retaliate against Trump's 20 percent tariffs
Wall Street Journal:
Trump's New Protectionist Age
New York Times:
'It's a Disaster': Global Markets Slide After Trump Unveils Tariffs
Ashley Carnahan / Fox News:
Treasury Secretary Bessent tells countries not to retaliate after sweeping ‘Liberation Day’ tariffs
Robert Jimison / New York Times:
Senate Votes to Rescind Some Trump Tariffs, With G.O.P. Support
Steven Nelson / New York Post:
Trump slaps at least 10% tariffs on almost all imports in ‘Declaration of Economic Independence’: ‘Half of what they are charging us’
Wired:   Trump and DOGE Defund Program That Boosted American Manufacturing for Decades
James Fallows / Breaking the News:
Launching the Economic Version of the Iraq War.
Discussion: Raw Story
Colum Murphy / Bloomberg:
Trump Gives China's Xi a Chance to Win Over World Hit by Tariffs
Discussion: Washington Examiner
New York Times:
In Oval Office Meeting, Far-Right Activist Pushes Trump to Fire National Security Staff  —  During the 30-minute meeting, Laura Loomer excoriated National Security Council officials in front of the president and Michael Waltz, the national security adviser.  —  Laura Loomer, the far-right activist …
Discussion: Raw Story and Daily Mail
RELATED:
Axios:
Scoop: Multiple firings on Trump's National Security Council after Loomer visit  —  Several members of President Trump's embattled National Security Council have been fired, a U.S. official and a second source familiar told Axios on Thursday.  —  Why it matters: The firings come …
CNN:
White House fires three NSC staffers after president meets with far-right activist Laura Loomer  —  The White House has fired at least three National Security Council staffers, three sources familiar with the move told CNN.  —  The firings came after Laura Loomer, the far-right activist …
Discussion: RedState and Twin Cities
Bloomberg:
Trump Tariffs Set to Wipe Out Nearly $2 Trillion From US Stocks … Roughly $1.7 trillion is set to be erased from the S&P 500 Index when trading opens Thursday amid worries that President Donald Trump's sweeping new round of tariffs could plunge the economy into a recession.
RELATED:
CNBC:
Dow futures tumble 900 points, S&P 500 futures lose 3% on Trump's tariff rollout: Live updates
NBC News:
Investors flee U.S. stocks as markets react sharply to Trump's tariff plan
Noah Berlatsky / Public Notice:   Trump's third term threats are not a distraction
The Guardian:
‘Nowhere on Earth is safe’: Trump imposes tariffs on uninhabited islands near Antarctica  —  Australian prime minister surprised after external territories - including tiny Norfolk Island and remote islands home to penguins - targeted by US president  —  A group of barren …
RELATED:
Sally Goldenberg / Politico:
Adams to skip New York City's Democratic primary, run for reelection on nonpartisan line  —  The mayor has been at odds with his party and wants time to recover from now-dismissed federal charges.  —  NEW YORK — Mayor Eric Adams is opting out of New York City's Democratic primary and running …
RELATED:
New York Times:
Adams Doubles Down on Trump Alliance, Praising F.B.I. Director's Book
Michael Wayland / CNBC:
Stellantis idles plants in Mexico and Canada due to tariffs … DETROIT — Stellantis is pausing production at two assembly plants in Canada and Mexico as the company attempts to navigate President Donald Trump's new round of 25% automotive tariffs that took effect Thursday.
Michael C. Bender / New York Times:
Trump Administration Threatens to Withhold Funds From Public Schools  —  State education officials will be required to verify that they have eliminated all programs that promote diversity, equity and inclusion that the administration deems unlawful, according to a new memo.
Amanda Marcotte / Salon:
Mike Johnson melts down after House proxy vote failure exposes MAGA's “pro-family” lie  —  The House speaker's latest tantrum shows how the “pro-family” MAGA GOP just wants women back in the kitchen  —  Speaker of the House Mike Johnson, R-La., once famously said that, to understand his …
Avery Lotz / Axios:
Musk will stay on as an adviser post-DOGE, Vance says  —  Elon Musk will remain a “friend and an adviser” to the White House after his time directing DOGE's reordering of the federal government is through, Vice President JD Vance said in a Thursday interview.
Jennifer Rubin / The Contrarian:
Truth still matters  —  Victory in the Wisconsin state supreme court race with a record turnout gives democracy advocates plenty of reason for optimism.  Money cannot buy everything.  Lottery gimmicks and deceptive ads just might have less impact than Elon Musk and his deputy (Donald J. Trump) would hope.
Discussion: NJTODAY.NET and New York Post
 
 
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 More Items: 
Politico:
Dan Osborn makes moves toward another Nebraska Senate run
Leah Litman / The Atlantic:
How the Trump Administration Learned to Obscure the Truth in Court
Politico:
Top Johnson aide pleads not guilty to DUI charge
Elisha Krauss / Washington Examiner:
Hegseth embraces true equality for women in the military
Discussion: USA Today and Fox News
Pamela Paul / New York Times:
My Farewell Column  —  This is my final column for The Times.  —  In the memo I wrote three …
 Earlier Items: 
Associated Press:
Justice Department declined to prosecute Texas AG Paxton in final weeks of Biden's term: AP sources
Discussion: The Gateway Pundit
Ian Dunt / The i Paper:
Trump's downfall begins now - his paranoia and baseless rage is his undoing
Discussion: Raw Story
Sydney Lupkin / NPR:
HHS guts the teams that fulfill public records requests for health agencies
Felix Salmon / Axios:
A third global recession in 20 years looms
Discussion: Wausau
Sunil Kumar / Tufts University:
University Declaration for Rümeysa Öztürk  —  Please see below a declaration …
Discussion: Boston.com and masslive.com
 

 
From Techmeme:

Reuters:
Sources: Apple chartered cargo flights to ferry 600 tons of iPhones, or up to 1.5M units, to the US from India; a source says Apple “wanted to beat the tariff”

Wayne Ma / The Information:
A look at the internal chaos behind Apple's Siri failure, in part due to poor leadership, with John Giannandrea's AI/ML group dubbed “AIMLess” internally

Maxwell Zeff / TechCrunch:
OpenAI updates ChatGPT with a memory feature that references past chats for answers, rolling out to ChatGPT Pro and Plus subscribers, but not in the UK and EEA
 
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