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GOP’s Florida jitters; Trump’s tariff week spooks the market

7 1
31.03.2025
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Happy Monday. With the combination of perfect spring weather, cherry blossoms reaching peak bloom, the kite festival and a Nationals day game, Washington was positively bursting this weekend. This is what I mean. And this. And this. And this. Oh, and the line to get into the zoo. 😅

 

In today's issue:

  • Trump’s first big report card
  • Wednesday’s tariffs may include *every* country
  • Stocks sink ahead of Wednesday’s tariffs
  • Trump’s upcoming dinner with critic Bill Maher (!)

 

I imagine economists everywhere are bracing themselves:

Stock markets dipped this morning in anticipation of President Trump’s major tariff announcements.

What we know: Trump has dubbed Wednesday “Liberation Day.” He’s expected to announce reciprocal tariffs as part of his growing trade war.

The tariffs may be broader than you may think: Trump said that his tariffs will include ALL countries, not just countries with the largest trade imbalances. This is notable considering several Trump administration officials have suggested the tariffs would be for roughly 10 to 15 countries.

How the market reacted: Stock markets took a hit today as the world braces for the U.S.’s tariffs. “The S&P 500 fell more than 1 percent at the start of trading, extending recent losses. The index is on track for its worst month since September 2022, on concerns that Mr. Trump’s tariffs could recharge inflation and dampen consumer sentiment.” (The New York Times)

What’s also happening this week: The March jobs report comes out Friday. Economists are bracing for this month’s report, which may show the job losses from Elon Musk’s massive federal government purge.

 

➤ REPUBLICAN SENATORS HAVE SOME ADVICE FOR TRUMP:

Senate Republicans are warning Trump that if he tries to impeach the judge who ruled against his Venezuelan deportations, it will be dead on arrival, according to The Hill’s Alexander Bolton.

Plus: “Senior Senate Republicans also say they will oppose any effort by Speaker........

© The Hill