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3:00 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:
Josh Fiallo / The Daily Beast:
Trump Jets Off to Watch Golf as U.S. Economy Goes Up in Flames  —  TRUMPENOMICS  —  The stock market is in free fall, but the president is headed to Florida.  —  President Donald Trump's response to a tanking U.S. stock market—brought on by his sweeping tariff announcement Wednesday—is to fly to Florida.
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.
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.
Discussion: Fox News and New York Post
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 …
Josh Wingrove / Bloomberg:
Trump's ‘Reciprocal’ Tariff Formula Is All About Trade Deficits … President Donald Trump's administration calculated its raft of new tariffs primarily based on existing trade balances — a departure from pledges to match the tariff rates and other trade barriers from other countries.
Wall Street Journal:
Trump's New Protectionist Age
Camille Gijs / Politico:
EU ‘prepared’ to retaliate against Trump's 20 percent tariffs
Financial Times:
Donald Trump baffles economists with tariff formula
Tom D'Angelo / Palm Beach Post:   Donald Trump expected to make appearance at LIV Golf in Doral. Will he play in the Pro-Am?
Giorgio Leali / Politico:
Macron calls on EU companies to freeze investments in US
Discussion: Bloomberg and Wausau
Washington Post:
Trump's tariffs hit even remote islands. One is mainly home to penguins.
New York Times:
'It's a Disaster': Global Markets Slide After Trump Unveils Tariffs
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 …
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 …
Rolling Stone:
Trump Fires NatSec Officials After Meeting With Far-Right Conspiracy Theorist  —  Laura Loomer is “not even on staff and calling more shots than some actual officials,” one Trump official told Rolling Stone  —  President Trump has fired six National Security Council staffers …
Michael C. Bender / New York Times:
Trump Administration Live Updates: Security Officials Said to Be Fired at Conspiracy Theorist's Urging
Discussion: WPR
NBC News:   17 former presidents of the D.C. Bar slam Trump over his targeting of law firms
NBC News:   Far-right activist Laura Loomer told Trump to fire national security team members in Oval Office meeting
Ben Leonard / Politico:
Top Republican leads bill to reassert Congress' tariff power amid Trump trade war  —  Sen. Chuck Grassley, a senior Republican lawmaker from the farm-heavy state of Iowa, is spearheading new legislation that would reassert Congress' authority over tariffs amid President Donald Trump's trade war escalation.
RELATED:
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 …
Danielle Wallace / Fox News:
Senate approves resolution against Trump's Canada tariffs hours after ‘Liberation Day’ event
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
Discussion: UPI
U.S. Department of Education:
ED Requires K-12 School Districts to Certify Compliance with Title VI and Students v. Harvard as a Condition of Receiving Federal Financial Assistance  —  Today, the U.S. Department of Education sent letters to State Commissioners overseeing K-12 State Education Agencies (SEAs) …
RELATED:
Michael C. Bender / New York Times:   Trump Administration Threatens to Withhold Funds From Public Schools
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.
RELATED:
Reuters:
Stellantis says it will temporarily lay off 900 US workers following tariff announcement
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:
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
Janna Brancolini / The Daily Beast:
Newsmax Shares Plunge 80 Percent After Briefly Being Valued Higher Than Fox  —  MEME STOCK  —  The MAGA cable channel Newsmax was briefly worth $30 billion this week before its share prices tumbled by 80 percent three days after its market debut.  The company briefly had a market cap of $30 billion …
Alexander Tin / CBS News:
RFK Jr. cuts CDC labs investigating outbreaks of STDs and hepatitis  —  Health and Human Services Secretary Robert F. Kennedy Jr. has eliminated the Centers for Disease Control and Prevention's laboratories for sexually transmitted diseases and hepatitis, multiple officials tell CBS News, disrupting ongoing work to respond to outbreaks.
Karina Elwood / Washington Post:
A trans girl was banned from her track team.  Now she's competing with the boys.  —  After President Donald Trump banned transgender girls from competing in girls' sports, a Virginia high-schooler joined the boys' team.  —  Eliza Munshi kneeled on her bedroom floor curling her lashes.
Tara Copp / Associated Press:
Pentagon's watchdog to review Hegseth's use of Signal app to convey plans for Houthi strike  —  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.
Discussion: Fox News and New York Post
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 …
Will Bunch / The Philadelphia Inquirer:
Booker's message was powerful and simple.  Just do something.  Now it's your turn  —  The question has hung for months over America like the dreary grey haze from the latest climate-induced wildfire: What on earth is wrong with the Democratic Party?  There's no simple bumper-sticker response …
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'
 
 
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 More Items: 
Tiffany Stanley / Associated Press:
A historic Black church took the Proud Boys to court. Now it controls their trademark
Discussion: Associated Press
Foreign Affairs:
The Brewing Transatlantic Tech War
Judy Kurtz / The Hill:
White House postpones Saturday garden tours due to anti-Trump demonstrations
Discussion: Axios
Giselle Ruhiyyih Ewing / Politico:
Pence to receive JFK Profile in Courage Award for 2020 election certification
Discussion: Axios, UPI and KTVZ-TV
Default:
Learning From the Legacy of 18F
Politico:
Dan Osborn makes moves toward another Nebraska Senate run
Discussion: Washington Examiner
 Earlier Items: 
Avery Lotz / Axios:
Musk will stay on as an adviser post-DOGE, Vance says
Pamela Paul / New York Times:
My Farewell Column  —  This is my final column for The Times.  —  In the memo I wrote three …
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
Wired:
Trump and DOGE Defund Program That Boosted American Manufacturing for Decades
 

 
From Mediagazer:

Andrew Goudsward / Reuters:
A US judge orders the White House to lift access restrictions imposed on the AP while the AP's lawsuit moves forward

Alex Mahadevan / Poynter:
A survey of 1,128 US adults: 49% have no interest in using an AI chatbot to get info from news outlets, and 27% believe outlets often use AI to write articles

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
 
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