NPR News: 04-02-2025 6PM EDT
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What are the details of Trump's new tariff plan?
Live from NPR News in Washington, I'm Jack Spear. President Donald Trump announced a sweeping plan to apply a 10% tariff on all imports coming into the U.S. NPR's Franco Ordonez reports a list of countries will also face additional, quote, reciprocal tariffs.
Some countries will face reciprocal tariffs as high as 49 percent in what some experts describe as the most aggressive changes to U.S. trade policy in decades. President Trump announced a plan during a Rose Garden ceremony at the White House.
This is one of the most important days, in my opinion, in American history. It's our declaration of economic independence.
U.S. officials say the 10 percent tariffs will start April 5th. About 60 countries will face additional, customized reciprocal tariffs starting on April 9th. Trump boasted the plan would supercharge the industrial base and boost government revenues. But most economists warn that tariffs will raise prices for consumers and could hurt the economy. Franco Ordonez, NPR News.
How will the new tariffs affect the U.S. economy?
The exact extent to which the new Trump administration tariffs will play out in the economy is an unknown, but if history is any guide, while the tariffs could create jobs in some sectors, they will also cause job losses in others. Diane Swonk is the chief economist at KPMG-US. She says the higher tariffs against goods imported from other countries could essentially rewrite the way global trade's been conducted, potentially pushing up prices for U.S. consumers.
Tariffs are a regressive tax. Not only do they tax those who can afford it least, they also tend to trigger reactions by our trading partners and can trigger a trade war. And they cause inflation and stem growth at the same time.
New tariffs will not apply to some goods like steel and aluminum, which are already subject to tariffs. Top officials in the Trump administration are set to meet today to discuss a TikTok deal. As NPR's Bobby Allen explains, Trump has set Saturday as a sell-by date for the video app under federal ban law.
What is the current status of TikTok under U.S. federal law?
It's not noticeable by using the app, but TikTok is technically operating in violation of a law Congress passed requiring the service to sever ties with China. The Trump administration has promised not to enforce the law, while President Trump holds something of a public auction for the hit app. Now, President Trump is set to meet with Vice President J.D. Vance and other advisors to weigh TikTok's options. Software company Oracle, owned by Trump supporter and billionaire Larry Ellison, appears to be leading the pack of bidders. The New York Times reported Amazon has sent in a last-minute TikTok offer. Yet one key hurdle remains, winning the approval of Chinese regulators, who may use TikTok as leverage in tariff negotiations. Bobby Allen, NPR News.
There are concerns in the south and midwest today that strong storm systems could bring with them tornadoes, baseball-sized hail, and possible flooding. Weather watchers say daytime heat along with unstable atmosphere could affect areas in parts of Texas, the lower Mississippi Valley, and the Ohio Valley. This is NPR. Israeli Prime Minister Benjamin Netanyahu says Israel intends to establish a new security corridor along the Gaza Strip. The Israeli leader in an announcement today indicating that corridor would cut off the southern city of Rafah, which Israel had recently ordered evacuated. The announcement follows word from Israel's defense minister the country's military intends to seize large parts of Gaza, adding them to so-called security zones. Palestinian officials say the latest Israeli airstrikes have killed more than 40 people. A House Republican proposal to sell some federal public lands is generating swift backlash from environmentalists and even some in the GOP.
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