The Trump administration is defending sweeping tariffs that sent markets careening. Shawn Donnan of Bloomberg News discusses what might happen next. Trump has attempted to revoke temporary protected status for some Venezuelans. KFF Health News reporter Vanessa G. Sánchez tells us how the caregiving industry could be affected. The Wall Street Journal examines the recent killing of Palestinian paramedics and how cellphone video footage helped detail the incident. Plus, a second child has died of measles in Texas, a judge ordered the government to return a man who was mistakenly deported, and the Connecticut Huskies won the women’s NCAA basketball championship. Today’s episode was hosted by Shumita Basu.
Full Episode
Good morning. It's Monday, April 7th. I'm Shamita Basu. This is Apple News Today. On today's show, why hundreds of thousands of Venezuelans living in the United States legally might be sent back. The U.N. learns more about what happened to rescue workers killed by Israeli troops. And UConn wins its record 12th women's basketball national championship.
But first, businesses, economists and governments across the world are still digesting and reacting to sweeping tariffs enacted by the Trump administration. The announcement last week sent markets careening with the S&P 500 hitting the lowest level in almost a year. Last week was the worst for American stocks since the beginning of the pandemic five years ago.
Over the weekend, thousands of protesters gathered in Washington, D.C. and in cities across all 50 states to demonstrate against President Trump and Elon Musk in what organizers dubbed hands-off protests. Demonstrators told reporters they were motivated by a diverse list of issues, from Musk's overhaul of government agencies to cuts to medical research to tariffs.
And yet on Sunday, administration officials remained defiant and waved away forecasting that has shown the tariffs could tilt the U.S. economy into a recession. Treasury Secretary Scott Besant made the case on Meet the Press that there are long-term gains to be made here for the U.S. economy.
There doesn't have to be a recession. Who knows how the market is going to react in a day, in a week. What we are looking at is building the long-term economic fundamentals for prosperity that I think the previous administration had put us on the course toward financial calamity.
Besant also claimed that over 50 countries have been in contact with the United States since the announcement in order to begin trade negotiations. President Trump on social media said Americans need to, quote, hang tough and wait for the end result. He also recently said that it could take two years for American manufacturing to grow as a result of this policy.
Sean Donnan, a senior writer for economics at Bloomberg News, told us that in the short term, a recession could cause companies to rethink their investment strategies.
If you have a recession in the United States, that by definition means Americans are buying less stuff, that the market in the United States is less attractive than it was otherwise. And so you may have companies also saying, well, hang on a second, maybe now's not the time to invest.
If I'm going to be spending billions of dollars to build a factory in the United States, I kind of want some certainty about where we're going, what it is that I'm investing in.
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