MicroWave

Summary

China will raise tariffs on U.S. goods to 84% from 34% starting April 10, retaliating against Trump’s 104% tariffs on Chinese imports.

The escalation deepens the U.S.-China trade war, threatening nearly $600 billion in annual trade and rattling global markets.

Treasury Secretary Scott Bessent called China’s move “a loser for them,” but markets reacted sharply: the S&P 500 entered a bear market, and Asian indices plunged.

China signaled no interest in negotiation, taking a hard-line stance as Trump’s trade strategy stokes fears of global recession.

Summary

Donald Trump defended his sweeping new tariffs—including a 104% levy on Chinese goods—despite market turmoil and a historic sell-off in U.S. Treasuries.

Speaking to Republicans, he claimed manufacturing is returning to the U.S., repeating, “I know what the hell I’m doing.”

China responded with an 84% tariff on U.S. goods, intensifying a trade war that tanked global markets.

The S&P 500 nears bear territory, and JPMorgan raised global recession odds to 60%. Critics warn of inflation, declining investor confidence, and deepening economic instability.

Summary

EU pharmaceutical companies warned of a potential investment exodus to the US after Donald Trump threatened major tariffs on drug imports.

Shares of leading firms like AstraZeneca and Sanofi dropped sharply, following newly imposed 20% “reciprocal” tariffs.

Industry group EFPIA—whose members include Bayer, Novartis, Novo Nordisk (maker of Ozempic), Pfizer, Lilly, Gilead, GSK, Teva, and Merck—met EU President Ursula von der Leyen hours before Trump’s remarks.

EFPIA said €16.5B in investment is at risk. Firms fear job losses and R&D shifts without urgent EU reforms.

Summary

Experts warn of worsening health outcomes after the Trump administration, led by HHS Secretary Robert F. Kennedy Jr., cut 10,000 health jobs and slashed $11.2B in federal funds.

The layoffs, part of a broader ideological overhaul, targeted experts in smoking prevention, STDs, lead poisoning, and firefighter cancer research.

Critics call it “gaslighting” under the slogan “making America healthy again.” The CDC’s ability to manage outbreaks like measles, HIV, and bird flu is weakened.

The administration has yet to clarify the scope or strategy of the cuts.

Summary

Donald Trump imposed sweeping “reciprocal” tariffs on dozens of nations, including a 104% levy on Chinese goods, claiming to boost U.S. manufacturing.

These tariffs, calculated by dubious trade deficit formulas, hit major trading partners like the EU, Japan, and South Korea.

Economists warn of rising inflation, recession risks, and potential stagflation. JPMorgan estimates a 60% chance of global recession, while U.S. consumers may face $2,100 in added yearly costs.

Despite retaliation threats, Trump refuses to back down. Businesses and allies express concern over economic damage and trade instability.

Summary

Thai police arrested US academic Paul Chambers on charges of insulting the monarchy and violating computer crime laws, linked to remarks made during an online seminar.

Chambers, a political science professor at Naresuan University, was summoned after a complaint by the Thai Army.

He denied the charges and was denied bail, with no trial date set. Thailand enforces strict lèse-majesté laws under Article 112, carrying up to 15 years in prison.

Summary

US government bonds are experiencing a major sell-off amid market panic over Donald Trump’s renewed tariff war with China, including 104% levies on Chinese goods.

The 10-year Treasury yield surged to 4.42%, with the 30-year briefly exceeding 5%, marking the largest intraday moves since Trump’s 2016 election.

Analysts warn of a potential emergency Fed rate cut. Global markets slumped, while China vowed retaliation. UK gilt yields also spiked, worsening borrowing conditions.

China’s bond-holding strategy remains unclear, raising further concerns for US financial stability.

Summary

Germany is investigating a suspected Russian cyberattack on the German Association for East European Studies (DGO), a Berlin-based research group deemed "undesirable" by Moscow.

Intelligence agencies BSI and BfV linked the breach to APT 29, or "Cozy Bear," a Kremlin-affiliated hacker group also suspected of targeting German political parties.

Hackers accessed DGO's email servers, triggering concerns due to IP patterns matching a previous attack.

The DGO reported prior incidents, including stalking and break-ins. Germany recently warned 70 academic institutions of similar threats from Russia.

Summary

Trump’s recent tariff hikes have triggered a sharp market downturn, prompting backlash from wealthy former allies.

Billionaires like Dan Loeb, Bill Ackman, and Ken Griffin have condemned the policy shift, citing financial losses and economic instability.

JPMorgan CEO Jamie Dimon warned tariffs could isolate the U.S. and slow growth. Home Depot’s Ken Langone questioned the tariff logic, while Stanley Druckenmiller opposed rates over 10%.

Investors feel powerless amid volatility driven by political decisions, not fundamentals.

Summary

At least a dozen House Republicans are considering backing Rep. Don Bacon’s (R-Neb.) bill to limit presidential power over tariffs, directly challenging Trump, who has threatened a veto.

The bill would require congressional approval for tariffs to last beyond 40 days and allow Congress to repeal them anytime.

Senators from both parties support a companion bill.

Some GOP lawmakers cite harm to farmers and constitutional oversight duties as reasons to support the measure, though others hesitate due to Trump’s influence and veto warning.

Summary

Acting IRS Commissioner Melanie Krause plans to resign over a controversial new agreement to share tax data of undocumented immigrants with Homeland Security, according to the Washington Post.

Krause will step down under the government's deferred resignation program recently offered to agency employees.

The data-sharing deal has sparked concern over privacy and immigration enforcement.

The report did not indicate when the agreement was finalized or how it will be implemented. The IRS has not officially commented on Krause’s decision or the scope of the information-sharing arrangement.

Summary

Trump will raise tariffs on all Chinese imports to at least 104% starting Wednesday, after China refused to withdraw planned 34% retaliatory tariffs.

The move, adding 84% on top of existing duties, aims to punish what the White House calls China's mistreatment of American workers.

China condemned the escalation and vowed to retaliate. U.S. markets fell on the news.

With average tariffs on Chinese goods set to reach nearly 125%, prices for electronics and other imports are expected to surge.