Chapter 1: What is the main topic discussed in this episode?
Here is your morning brief for Thursday, April 2nd. I'm Luke Vargas for The Wall Street Journal. In an address to The Nation last night, President Trump made his case that the month-old war in Iran was in America's interests and that any economic pain stemming from it would be over soon.
Trump also predicted that stock prices will rapidly go back up and said the U.S. economy is, quote, strong and improving by the day. However, investors seem to be bracing for continued disruption. U.S. stock futures began sliding during Trump's speech and remained down this morning.
Chapter 2: What are Trump's claims about the Iran war and its impact on the U.S. economy?
Asian markets fell today, while European shares are also mainly lower in midday trading. Eli Lilly has won U.S. regulatory approval for its once-daily GLP-1 pill. Foundeo will be going up against the pill version of Novo Nordisk's Wegovi, which went on sale at the start of the year in what turned out to be one of the best drug launches in history.
Eli Lilly's GLP-1 injections now outsell those pioneered by Novo Nordisk, and analysts are betting that Foundeo will generate about $21 billion in global sales for Lilly by 2030, compared with $4 billion for the WeGoV pill.
And we are exclusively reporting that the Trump administration could announce changes to steel and aluminum tariffs as soon as this week.
The shift could see a 25% tariff applied to the entire value of goods made with imported steel and aluminum, replacing a current 50% duty, which only applies to the value of the metals used in a product. A 50% levy would remain in place for goods made almost entirely of the metals. And we've got a lot more coverage of the day's news on the WSJ's What's News podcast.
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