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Today's Political News Compilation - Friday, April 4, 2025

Apr 04
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Below are some of the top political news stories of the day:
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AP Photo

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Trump Tariffs Live: $5 trillion wiped off Wall Street as escalating trade war spurs fear of global recession​

By Kylie Maclellan, Stephen Farrell, Heather Timmons, Zoe Law, Noel Randewich and Vanessa Balintec

The Week in Numbers: Trump goes big, stocks head south

Phew. What a week.

We're closing down our Live Page coverage of the continued market sell-off over Trump's tariff plans and the reaction from China and other trading partners.

From Trump's big reveal on tariffs exceeding expectations, to a very negative response from stocks, here is a round up of the big stories in business and finance over the week to April 4:

Shares of U.S. refiners fell to near two-year lows as fears of slower fuel demand and weakening refining margins rattled investors.

Top refiners Marathon Petroleum, Valero Energy and Phillips 66 have shed more than $20 billion in market capitalization since Trump announced sweeping new tariffs on Wednesday, based on LSEG data.

Nations around the world have readied retaliatory tariffs and China, the world's top oil importer, announced it will impose additional tariffs of 34% on all U.S. goods from April 10.

"We consider the adoption of the 'reconciliatory tariffs' will result in weaker global GDP growth and so lower oil demand growth, oil prices and weaker refining margins, as exemplified by the futures markets over recent days," Alan Gelder, vice president of refining, chemicals and oil markets at Wood Mackenzie.

'FORCED THE MARKET TO RE-EXAMINE DEMAND'

Crude futures closed at their lowest in more than three years on Friday, with Brent diving 6.5% to $65.58 a barrel and U.S. West Texas Intermediate crude slumping 7.4% to $61.99.

For the week, both benchmarks tumbled nearly 11% in their biggest weekly loss in percentage terms since 2023. ...

READ THE FULL STORY - REUTERS

Dow sheds 2,200 points as markets end another day of tariff chaos

The broad S&P 500 index and tech-heavy Nasdaq also closed more than 5% lower as global markets struggle to digest the president’s expanding trade war.
www.nbcnews.com

Trump on firing national security officials: 'People that we don’t like'

President Donald Trump said Thursday that he's fired "some" White House National Security Council officials, a day after far-right activist Laura Loomer raised concerns directly to him about staff loyalty.
apnews.com

Trump administration halts Biden proposal to let Medicare, Medicaid cover anti-obesity drugs | CNN Politics

The Trump administration announced Friday that it is not moving forward with a Biden-era proposal that would have expanded coverage of costly anti-obesity drugs to more than 7 million Americans on Medicare or Medicaid.
www.cnn.com

Supreme Court allows Trump to terminate teacher training grants as part of anti-DEI policy

The decision is the first win for President Donald Trump at the Supreme Court in his second term.
www.nbcnews.com

Trump tariff formula misrepresents global trade economics, experts say

The Trump administration's tariff calculations appear on paper to be a simplified math of America's trade relationships.
abcnews.go.com

Obama says he is 'deeply concerned' with the Trump administration's targeting of students, journalists and law firms

His comments came on the same day that former Vice President Kamala Harris also spoke out against the administration.
www.nbcnews.com

Trump administration accidentally tells Ukrainian refugees they must leave U.S. immediately, citing an "error"

Some Ukrainians received emails this week telling them that the U.S. Department of Homeland Security would be terminating their legal protections
www.cbsnews.com

What to know about Laura Loomer, far-right activist and influencer tied to Trump

The conservative conspiracy theorist met with Trump this week before he fired security officials.
www.usatoday.com

FBI Director Patel leads charge to root out Chinese influence on US soil

With Republicans sounding the alarm over Chinese-owned farmland in the U.S., FBI Director Kash Patel has named eradicating CCP influence a top priority at the bureau.
www.foxnews.com

Bernie Sanders warns the U.S. is now a "pseudo-democracy"

Preview: In an interview to air on "CBS Sunday Morning" April 6, the Vermont Senator decries the influence of billionaires such as Elon Musk on the political process.
www.cbsnews.com

Russia stalls ceasefire talks as it intensifies attacks on Ukraine

Russia and Ukraine continue long-range drone and missile attacks, but observe an informal ceasefire in the Black Sea.
www.aljazeera.com

Trump tariffs live updates: 'Only the weak will fail,' Trump says as markets fall

Trump said, "Only the weak will fail," as the markets saw major losses on Friday.
abcnews.go.com
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Latest Political News Feed

Michigan joins 18 other states to block Trump's election order

  • News source: Politics - CBSNews.com
  • Replies: 0
  • Views: 0
Democratic officials in 19 states, including Michigan, filed a lawsuit against President Trump's attempt to reshape elections across the U.S., calling it an unconstitutional invasion of states' clear authority to run their own elections.

Thursday's lawsuit is the fourth against the executive order issued just a week ago. It seeks to block key aspects of it, including new requirements that people provide documentary proof of citizenship when registering to vote and a demand that all mail ballots be received by Election Day.

"The President has no...
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Price hikes in clothing apparel expected amid tariffs

  • News source: Jennifer Cuevas
  • Replies: 0
  • Views: 3
Clothing is on the list as one of the industries that could see significant price hikes amid the newly imposed tariffs.

Tariffs on imported goods went into effect on Wednesday.

Prices in clothing and shoes may see an increase of 16.9%, according to the Yale Budget Lab.

At TeTa Active Apparel in Wolcott, a shop that specializes in embroidery and print work, Cial Cook, the sales account manager, said they’re already seeing an increase in price of the materials they use such as thread going up by 4%.

“Now a T-shirt that used to be $10.00 to make is...
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Dems slam Elon Musk, Melania Trump with xenophobic attacks: ‘Go back to South Africa!’

  • News source: FOX News
  • Replies: 0
  • Views: 7
Since President Donald Trump’s return to the White House, Democrats have made xenophobic comments about DOGE chief Elon Musk and first lady Melania Trump.

Some of the party’s leaders have repeatedly complained about Musk’s country of birth being South Africa and told Trump to look into deporting his wife, who was born in the former Yugoslavia.

Speaking at an anti-DOGE protest in Los Angeles March 22, Rep. Maxine Waters, D-Calif., suggested Trump should investigate and potentially deport the first lady.

"When he [Trump] talks about birthright...
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Video casts doubt on Israeli account of Gaza medic killings

  • News source: BBC News - World
  • Replies: 0
  • Views: 7
The video was published by the Palestine Red Crescent Society (PRCS), which said it was obtained from the phone of a paramedic who was killed.
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Democrats propose bill to prevent Trump from relocating federal agencies outside DC

  • News source: FOX News
  • Replies: 0
  • Views: 10
A cohort of Democratic representatives and senators are proposing legislation aimed at stalling President Donald Trump's efforts to relocate federal agencies outside of Washington, D.C., something the president has taken steps to start doing.

Guidance issued in February from the Trump administration instructed federal agencies to submit any proposed relocation of agency bureaus and offices by April 14, instructions that were tied to the president's broader efforts to eliminate waste, fraud and abuse within the federal government.

The pair of...
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WATCH: Dems dodge on calling Tesla attacks acts of 'domestic terrorism'

  • News source: FOX News
  • Replies: 0
  • Views: 5
After taking to social media to announce he was ditching his Tesla because it was made by an "a--hole" he claimed is damaging the country, Sen. Mark Kelly, D-Ariz., refused to say whether Democrats’ inflammatory rhetoric against
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Here's what happened during Trump's 11th week in office

  • News source: FOX News
  • Replies: 0
  • Views: 6
President Donald Trump marked the week by unveiling an unprecedented wave of tariffs on imports to the U.S., aligning with his long-held position that other countries have taken advantage of the U.S. in trade.

Trump disclosed the historic tariffs in a ceremony at the White House’s Rose Garden for a "Make America Wealthy Again" event, asserting these new duties would generate new jobs for U.S. workers.

"For nations that treat us badly, we will calculate the combined rate of all their tariffs, nonmonetary barriers and other forms of cheating,"...
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Detained Georgetown professor worried most for his class, colleagues and students say

  • News source: Kimmy Yam | NBC News
  • Replies: 0
  • Views: 6
Badar Khan Suri, a Georgetown University professor and postdoctoral scholar who was arrested and targeted for deportation by the Trump administration last month, was most concerned for his students after he was detained, according to members of the Georgetown community.

Suri, who was born in India and in the U.S. on a student visa, had been teaching a course on minority rights in South Asia at the university’s School of Foreign Service (SFS). A student and faculty members told NBC News that amid the shock of his arrest, Suri still kept his class at...
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Ex-lawmaker George Santos faces 7-year prison sentence for federal fraud, identity theft

  • News source: FOX News
  • Replies: 0
  • Views: 10
Disgraced former Rep. George Santos could face more than seven years in prison if New York prosecutors get their way.

Santos, 36, who became just the sixth House member to be expelled from the chamber and the first Republican, pleaded guilty to federal fraud and identity theft charges in August as part of a plea deal after having been indicted on felony charges.

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Video footage appears to contradict Israeli account of Gaza medic killings

  • News source: BBC News - World
  • Replies: 0
  • Views: 14
The footage was reportedly filmed by a Palestinian paramedic who was killed by Israeli forces along with 14 others in March.
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Judge rules US must return man deported to El Salvador in 'error'

  • News source: BBC News - World
  • Replies: 0
  • Views: 9
Kilmar Abrego Garcia, who had protected legal status in the US, was deported last month to an El Salvadoran prison.
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US consumers rush to buy big-ticket items before Trump's tariffs kick in

  • News source: Claire Rush | The Associated Press and Mark
  • Replies: 0
  • Views: 8
John Gutierrez had been thinking about buying a new laptop for the past year. The Austin, Texas, resident needed a computer with faster processing and increased storage for his photography work and had his sights set on a product from a Taiwanese brand.

Then President Donald Trump announced expansive new import tariffs Wednesday, including a 32% tax on imports from Taiwan. That same day, Gutierrez ordered the laptop, with a base price of $2,400, from a retailer in New York specializing in photo and video gear.

“I thought I’d bite the bullet, buy it...
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In the race to save lives after Myanmar quake, US rescuers are notably absent

  • News source: Ellen Knickmeyer | The Associated Press and David
  • Replies: 0
  • Views: 9
Day after day, Chinese rescue teams haul children and elderly people from collapsed buildings as cameras beam the thanks of grateful survivors around the world. Russian medical teams show off field hospitals erected in a flash to tend the wounded.

Notably absent from the aftermath of the 7.7-magnitude earthquake in the poor Southeast Asian nation Myanmar: the uniquely skilled, well-equipped and swift search-and-rescue teams and disaster-response crews from the United States.

At least 15 Asian and Western government rescue teams have landed crews...
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Ohio teacher attempted to pay student $2K to kill estranged husband in failed murder-for-hire plot

  • News source: FOX News
  • Replies: 0
  • Views: 11
An Ohio substitute teacher is accused of offering a student $2,000 to kill her estranged husband before the teenager's mother caught wind of the murder-for-hire plot and alerted authorities.

Stephanie Demetrius, 44, was arrested Wednesday and charged with first-degree conspiracy for the offer to a boy at The Academy For Urban Scholars High School in Columbus, WSYX reported.

Demetrius approached a student at the school on March 26 and offered $2,000 to carry out the murder of her soon-to-be ex-husband. The student was initially paid $250 in cash as...
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Videos show aftermath of Israeli strike on Gaza school-turned-shelter

  • News source: BBC News - World
  • Replies: 0
  • Views: 14
BBC Verify explains what we know about the incident after reviewing videos that were posted online.
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