Trump Tariffs and Trade Wars Intensify – 4/9/2025

The Trump administration has escalated its trade war with China, imposing steep tariffs on Chinese tech products and prompting retaliatory measures, while oil prices have plummeted to their lowest since 2021 amid global economic uncertainty. Domestically, Senators Johnson and Grassley have accused the Biden White House of influencing a probe into Trump’s January 6 actions, and the U.S. Treasury yield has surpassed 5%, signaling market shifts.

United States

  • Senators Johnson and Grassley claim Biden White House spurred Jack Smith’s Trump Jan. 6 probe, per JTN
  • Oil prices drop under $57 a barrel, hitting the lowest level since 2021
  • 30-year U.S. Treasury yield climbs past 5%
  • Trump admin eyes drone strikes on Mexican cartels to curb drug flow, despite diplomatic risks, per NBC News
  • Tariff cuts possible for nations avoiding retaliation, says Treasury Secretary Scott Bessent
  • U.S. nabs over $500M in drugs at Florida’s Port Everglades; Kash Patel vows to “lock them up”
  • Kevin O’Leary pushes for 400% tariffs on China to cripple its economy
  • Rep. Tim Burchett demands halt to $40M weekly U.S. funding of Taliban
  • GoFundMe allegedly pulls all fundraisers tied to accused murderer Karmelo Anthony
  • Treasury Sec. Scott Bessent calls China’s tariff hikes a “big mistake” with little leverage, per CNBC
  • Scott Bessent says Wall Street’s wealth run ends now: “It’s Main Street’s turn”
  • Trump blocks nearly $2B in federal funds to Cornell and Northwestern for civil rights issues
  • Trump White House officials reportedly snub journalists using pronouns in email signatures
  • Trump admin labels Houthis terrorists, cracking down on their foreign support, per U.S. Dept. of State
  • Delta Air Lines predicts a revenue dip this quarter, citing stalled growth and recession fears, per CNN
  • U.S. faces a wave of 41 bills in 22 states targeting free speech with penalties, per The Guardian
  • Social Security scraps major phone service cuts, saying “telephone remains a viable option,” per Axios
  • ICE chief Todd Lyons aims to make deportations efficient “like Amazon Prime for human beings,” per The Guardian
  • House GOP budget blocks a vote on curbing the president’s tariff authority, per More Perfect Union
  • Verizon’s AI assistant, built with Google tech, boosts sales by shortening customer calls, per Reuters
  • Trump’s approval rating slips to 43% from 48% in two weeks, per The Washington Post
  • Judge gives U.S. one day to justify deporting Columbia student Mahmoud Khalil, per Reuters
  • Elon Musk’s X settles Twitch boycott dispute over lost ad revenue, per Reuters
  • Trump admin weighs farmer bailout to offset trade war damage, per More Perfect Union
  • Trump taps billionaire Jared Isaacman to lead NASA, focusing on Mars missions, per The Associated Press
  • Experts advise holding steady in volatile markets, a tough call for college parents, per WSJ
  • All China-made tech products now face a 104% U.S. tariff as Trump’s trade war intensifies, per Bloomberg, WSJ
  • Amazon halts some China inventory orders, per Bloomberg

International

  • India slashes interest rates to counter global chaos from Trump’s tariffs, per AFP
  • Trump imposes 10% tariff on uninhabited Heard Island and McDonald, home only to penguins
  • Canada’s 25% auto tariffs on U.S. take effect, per CNBC
  • China warns its tourists of risks when traveling to the U.S.
  • Trump calls it a prime time to buy as China slaps an 84% tariff on U.S. goods amid trade wars
  • Israeli forces order six UN schools in East Jerusalem to shut within 30 days, per CNN
  • China may have to negotiate with U.S. as trade war drags on, per Stephen Miller