Trump Tariffs Reshape Global Trade, Bank Leumi Profits Surge – 3/3/25

United States

  • The FDA’s sudden cancellation of next month’s vaccine advisory meeting, where experts select flu shot strains, sparks worries about U.S. vaccine supply for the upcoming season, per NBC
  • Business leaders remain uncertain as Donald Trump’s major tariffs, effective Tuesday, fail to clarify his shifting trade policies since taking office in January, per Reuters Business
  • Top athletes discover that resuming workouts soon after a sports concussion, rather than resting completely, speeds up recovery, per WSJ
  • Tariffs imposed by the Trump administration on imports from Mexico, Canada, and China took effect Tuesday, per ABC
  • Multiple Democrats plan to skip Trump’s congressional address, dubbed a “pep rally,” per Fox
  • AG Pam Bondi reports a “truckload” of Jeffrey Epstein files was delivered Friday
  • Authorities say a Tesla charging station in Massachusetts was deliberately torched
  • Trump admin’s tariffs on Mexico, Canada, and China imports took effect Tuesday, per ABC
  • Linda McMahon takes oath as Trump’s Education Secretary, vows to dismantle the department as pledged
  • Honda opts to build Civic hybrids in the U.S. to sidestep tariffs, per Reuters
  • Pentagon allegedly misused $1.3 billion in taxpayer-funded credit cards at casinos, bars, and nightclubs
  • Trump’s favorability hits 50% (+10) compared to Harris at 40%, per AtlasIntel 2/24-27

International

  • Bank Leumi in Israel sees a 40% surge in profits for 2024, per Reuters Business
  • Investors anticipate a major shift in Europe’s economic landscape, likely to reshape bond yields, currencies, and stock prices for years ahead, per Bloomberg Economics
  • Gum arabic, a key component in products like Coca-Cola and M&M’s, is now increasingly sourced from rebel-controlled Sudan, challenging Western firms’ supply chain strategies, per Reuters Business
  • The son of Singapore billionaire Peter Lim takes the helm as president of Spain’s Valencia Football Club, per Forbes
  • Thailand plans to permit limited alcohol sales on Buddhist holidays, aiming to boost tourism in the latest move to attract international visitors, per Bloomberg Economics
  • An executive from the Philippines’ leading conglomerate warns that President Trump’s tariff policies could drive inflation in the country, as the region prepares for trade war fallout, per Bloomberg Economics
  • Defense stocks in Asia rise as Europe considers boosting arms budgets, per WSJ Business
  • Canada announces $30 billion in retaliatory tariffs targeting the U.S., per Reuters
  • China enacts 15% tariffs on certain U.S. goods in response to trade tensions
  • EU spending on Russian fossil fuels in 2024 reportedly outpaced its Ukraine aid, per Fox
  • China imposes 10% tariffs on U.S. soybeans, pork, and other imports