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1:20 PM ET, April 3, 2025

memeorandum

 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 and Wausau
David Dayen / American Prospect:
They're Not Tariffs, They're Sanctions  —  Stop trying to place coherence on a policy that's really just a mob boss breaking legs and asking for protection money.  —  President Donald Trump departs after signing an executive order on tariffs in the Rose Garden at the White House, April 2, 2025, in Washington.
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 …
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.
Wall Street Journal:
Trump's New Protectionist Age  —  Blowing up the world trading system has consequences that the President isn't advertising.  —  President Trump unveiled his new “liberation day” tariffs on Wednesday, and they are another large step toward a new old era of trade protectionism.
President Donald J. Trump / The White House:
Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent Annual United States Goods Trade Deficits
Camille Gijs / Politico:
EU ‘prepared’ to retaliate against Trump's 20 percent tariffs
Wired:   Trump and DOGE Defund Program That Boosted American Manufacturing for Decades
Bloomberg:
France's Macron Urges EU Firms to Pause US Investments
Discussion: Politico and Wausau
Washington Post:
Trump's tariffs hit even remote islands. One is mainly home to penguins.
Ashley Carnahan / Fox News:
Treasury Secretary Bessent tells countries not to retaliate after sweeping ‘Liberation Day’ tariffs
The Budget Lab at Yale:
Where We Stand: The Fiscal, Economic, and Distributional Effects of All U.S. Tariffs Enacted in 2025 Through April 2
Discussion: USA Today and Marketplace
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’
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 …
RELATED:
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 …
Michael C. Bender / New York Times:   Trump Administration Live Updates: Security Officials Said to Be Fired at Conspiracy Theorist's Urging
Danielle Wallace / Fox News:
Senate approves resolution against Trump's Canada tariffs hours after ‘Liberation Day’ event  —  4 Republicans side with Democratic resolution against Trump's Canada tariffs  —  Join Fox News for access to this content  —  The Senate on Wednesday approved a resolution opposing President …
RELATED:
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 …
Catie Edmondson / New York Times:
Republicans Plan to Skirt Senate Rules to Push Through More Tax Cuts
Discussion: HuffPost and New York Post
Robert Jimison / New York Times:
Senate Votes to Rescind Some Trump Tariffs, With G.O.P. Support
Stan Choe / Associated Press:
Dow drops 1,400 as US stocks lead worldwide sell-off after Trump's tariffs ignite a COVID-like shock  —  Financial markets around the world are reeling Thursday following President Donald Trump's latest and most severe set of tariffs, and the U.S. stock market is taking the worst of it so far.
RELATED:
Bloomberg:   Trump Tariffs Set to Wipe Out Nearly $2 Trillion From US Stocks
CNBC:
Dow futures tumble 900 points, S&P 500 futures lose 3% on Trump's tariff rollout: Live updates
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:
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.
Gabby Deutch / Jewish Insider:
ADL's Greenblatt calling out ‘disturbing pattern’ in Trump's deportation campaign  —  In an interview with JI, the Anti-Defamation League CEO says the protection of Jewish students 'shouldn't require us to shred the norms that we use to protect other people'
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.
Discussion: USA Today
April Rubin / Axios:
What to know about Saturday's nationwide “Hands Off!” anti-Trump protests  —  A nationwide anti-President Trump movement on Saturday, “Hands Off!,” is expected to be the largest single-day protest since he entered office.  —  Why it matters: The Trump administration's wide-reaching …
Politico:
Top Johnson aide pleads not guilty to DUI charge  —  Speaker Mike Johnson's chief of staff pleaded not guilty Thursday to charges that he drove under the influence and operated a vehicle while impaired on the night of President Donald Trump's address to a joint session of Congress.
Discussion: Raw Story
New Republic:
Trump Suddenly Set to Cut Musk Loose as Knives Come Out Over WI Fiasco  —  After Democrats scored a huge victory in the Wisconsin Supreme Court race, a contest that revolved heavily around Elon Musk's involvement, Trumpworld is turning on its favorite billionaire.
Josh Marshall / Talking Points Memo:
Two Thoughts on Trump's Inferno Tariffs  —  Two thoughts on today's tariffs.  I could get into the substance of the decision.  But I think that goes without saying.  —  Point one is that we should remember that Presidents have no inherent power over tariffs whatsoever.
Politico:
Dan Osborn makes moves toward another Nebraska Senate run  —  The independent proved a surprisingly strong challenger last year to Sen. Deb Fischer.  —  Dan Osborn, the independent Senate candidate who nearly toppled an incumbent Republican last year, is taking steps to prove his overperformance in deep-red Nebraska was no fluke.
Discussion: Washington Examiner
 
 
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 More Items: 
Scott Macfarlane / CBS News:
Trump nominee to be D.C.'s top prosecutor touts legal work for Jan. 6 rioters in Senate questionnaire
Discussion: The Hill and Talking Points Memo
Default:
Learning From the Legacy of 18F
Megan Brenan / Gallup:
Worry About U.S. Economy, Healthcare, Social Security Surges
Discussion: The Hill and New Republic
Maggie Astor / New York Times:
RFK Jr. Falters on Transparency Promise Amid HHS Layoffs
Discussion: Axios
Leah Litman / The Atlantic:
How the Trump Administration Learned to Obscure the Truth in Court
Avery Lotz / Axios:
Musk will stay on as an adviser post-DOGE, Vance says
 Earlier Items: 
Jennifer Rubin / The Contrarian:
Truth still matters
Discussion: New York Post and NJTODAY.NET
Elisha Krauss / Washington Examiner:
Hegseth embraces true equality for women in the military
Discussion: Human Events and USA Today
Pamela Paul / New York Times:
My Farewell Column  —  This is my final column for The Times.  —  In the memo I wrote three …
Associated Press:
Justice Department declined to prosecute Texas AG Paxton in final weeks of Biden's term: AP sources
Ian Dunt / The i Paper:
Trump's downfall begins now - his paranoia and baseless rage is his undoing
Discussion: Raw Story
Felix Salmon / Axios:
A third global recession in 20 years looms
Discussion: The New European and Wausau
Sunil Kumar / Tufts University:
University Declaration for Rümeysa Öztürk  —  Please see below a declaration …
Discussion: Boston.com and masslive.com
James Fallows / Breaking the News:
Launching the Economic Version of the Iraq War.
Discussion: Raw Story
 

 
From Mediagazer:

Jennifer Maas / Variety:
Media and tech stocks jump after Trump announced a 90-day tariff pause, with WBD closing up 17%+, Netflix up 8%+, Disney up 12%+, and Meta up 14%+

Richard Lawler / The Verge:
YouTube, the RIAA, and SAG-AFTRA express support for the reintroduced NO FAKES Act, which standardizes rules around making AI copies of a person's likeness

Anne Steele / Wall Street Journal:
A profile of Elliot Grainge, the 31-year-old son of UMG chief Lucian Grainge who was recently appointed Atlantic Records CEO to lead the label in the TikTok era

 
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