Trump Bumps China Tariffs to 104% & People Are Panic-Buying iPhones
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What was the 'worst baseball game ever'?
Then those 104% tariffs have Americans panic buying iPhones to try and beat the price hikes. It's Wednesday, April 9th. Let's ride.
Obviously a huge day for the global economy. But before we get to that, let's head to Humboldt Teaneck, New Jersey, where two teams staged what has been called the worst baseball game in history. Lehman College and Yeshiva University, both D3 schools, met after having lost a combined 141 games in a row, 42 straight losses for Lehman and 100 games for Yeshiva. So when they met, someone was going to snap an epic losing streak. It certainly wasn't pretty to watch, but Lehman College won 7-6 in extra innings, their first victory since 2023. But all was not lost for Yeshiva. These two teams actually played a doubleheader, and Yeshiva beat Lehman in the second game, winning for the first time since 2022. So a fairytale ending.
Both teams got their first dub in years.
In the worst baseball game of all time, both teams came out winners. Still though, Yeshiva's 100 straight losses are not even close to the worst losing streak of all time. That belongs to the Caltech Beavers. From 2003 to 2013, lost 228 consecutive games. I'm sure they were busy designing some world-changing technology so they get a pass. Technically, though, Neil, the NCAA does not keep a record of the most combined losses by two teams meeting in any one game. But an NCAA spokesperson, when told of the upcoming tilt between Yeshiva and Lehman, said, wow, those are some big numbers. Speaking of numbers, let's hear a word from our sponsor, TaxAct. If you're a sole proprietor business owner, here's a question.
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Visit TaxAct.com and file before April 15th. Let TaxAct help you find what's yours. You are waking up to a whole new world, and it's anything but a magic carpet ride. Just after midnight, President Trump's so-called reciprocal tariffs went into effect against 86 countries, including more than 104% tariffs on China, the world's second-largest economy. This brings America's average effective tariff rate well north of 20%, the highest in more than 100 years. Trump and his economic advisors argue a trade war is necessary to level scores with bad actors and bring back manufacturing jobs to the U.S., and this is a once-in-a-lifetime opportunity to do that. At a Senate hearing yesterday, Trump's top trade official, Jameson Greer, said the U.S.
economy was facing a moment of drastic, overdue change. Wall Street leaders have forcefully disagreed, criticizing the size of the tariffs and the bizarre way they were calculated. Banks like JPMorgan are now predicting a recession. and financial markets have lost trillions in value in the past week alone. Even as stocks spent most of the yesterday in the green, they tanked into the close, ending deep into negative territory. The S&P 500 is now at its lowest point in more than a year. So a new economic order has arrived, closing an era of free trade and opening a chapter where the U.S., the world's largest economy, has built high walls around itself.
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