It's "Liberation Day" per POTUS (Read It And Eat [02-04-2025])

Updated: Apr 3

Major Headlines

Trump’s New Tariffs: dubbed "Liberation Day"
On Wednesday, Donald Trump made a confident push to impose sweeping new tariffs on global trading partners, challenging the rules-based trade system that has been in place for decades. His move could lead to higher costs for consumers and businesses, and it's likely to trigger retaliation from countries all around the world. This would change global trade as we know it, ushering in an era of Nationalism over Globalism
According to White House spokesperson Karoline Leavitt, these new duties will take effect immediately after Trump's announcement, with a separate 25% global tariff on auto imports kicking in on April 3.
For weeks, Trump has stated that these reciprocal tariffs are aimed at leveling the playing field between U.S. tariff rates and those of other countries. He argues that this is necessary to combat non-tariff barriers that make it harder for U.S. exports to compete. However, there’s still some uncertainty around the details—reports suggest Trump may be considering a universal 20% tariff.
Regardless of the specific approach, the impacts of this announcement are expected to be felt across a wide range of industries. As Majerus, a partner at King and Spalding law firm, put it: “The effects will be significant.” Reuters

China's New Barges: A Potential Game-Changer for Taiwan Invasion Plans
China has been testing some unusual maneuvers off its southern coast, using three special barges in a formation that could be a game-changer. These vessels, connected to form a long bridge, stretch from the deeper waters to the beach—an interesting development that experts believe could be part of China’s broader strategy for invading Taiwan.
The barges suggest that the People’s Liberation Army might be getting closer to having the ability to land thousands of troops, vehicles, and weapons on Taiwan’s shores. This capability is a key part of Chinese President Xi Jinping’s plan to either peacefully reunite Taiwan with China or, if necessary, take control by force.
Despite China’s growing military presence—complete with advanced missiles, warships, and fighter jets—many experts have been skeptical about the feasibility of a swift invasion. But with these new barges, China may have more options for where and when to land on Taiwan, making Xi’s threats of a potential invasion feel more tangible. New York Times

Gold Prices Climb Ahead of New US Tariffs
Gold prices jumped above $3,130 per ounce on Wednesday, moving closer to the record highs seen in the previous session. The rise came as investors turned to gold, driven by growing concerns about the new US tariffs that could further escalate the global trade war.
While the White House hasn't revealed all the details about the scope of these tariffs, it did announce that they will take effect immediately after being unveiled. President Trump also hinted that the duties could affect a wide range of countries, fueling worries about broader economic consequences.
The uptick in gold prices is also being supported by expectations of interest rate cuts, increased central bank buying, and strong demand for gold-backed ETFs.
In the meantime, investors are looking to make the most of the stock market’s recent gains. This quarter, we've seen notable movements in international markets as well. The German DAX is up by 11%, Brazil’s Ibovespa has surged by 18%, and the Swedish krona has strengthened—pointing to optimism in various global markets despite the uncertainty. Trading Economics

Liberal Victory in Wisconsin Supreme Court Election Deals Blow to Trump and Musk
In a significant election on Tuesday, Wisconsin voters chose Susan Crawford for the state Supreme Court, preserving the court's 4-3 liberal majority. This outcome marks a setback for both President Donald Trump and his billionaire ally, Elon Musk, who had backed Crawford's conservative rival.
The election quickly became a high-stakes contest, with many viewing it as a referendum on Trump’s influence. It turned into the most expensive judicial race in U.S. history, with more than $90 million poured into the campaign by the candidates, state parties, and various outside groups, according to New York University's Brennan Center.
Crawford, a county judge, won against conservative Brad Schimel, who previously served as the Republican state attorney general. Schimel conceded the race both in a phone call to Crawford and in a speech to his supporters. Reuters

Minor headlines

Val Kilmer, Film Star who played Batman and Jim Morrison dies at 65. The New York Times
Arm recently sought to acquire Alphawave for AI chip tech. Reuter
Visa bids $100 million to replace Mastercard as Apple's new credit card partner. Reuter
US Senate committee opens review into Meta efforts to gain Chinese market access Reuter
Cory Booker breaks modern record for the longest speech from the Senate floor. 25 hours and 14 minutes. the Washington post
GM and Hyundai lead US vehicle sales higher ahead of the auto tariffs the Washington post
Singapore-based GLP Debuts a $360 Million Data Center Fund. Bloomberg
Deloitte is the biggest corporate loser from DOGE cuts. financial times
Ryanair flies 200 million passengers. Ryanair has become the first European airline to fly over 200 million passengers in a single year, hitting 200.2 million in the 12 months to the end of March. travel weekly

Gen Z word of the Day:

Low-key

Keeping something secret/mild or doing something with less intensity

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