Companies seek ways around Trump’s ‘Liberation Day’ tariffs

[CRAIG NIGRELLI]

GOOD MORNING

I’M CRAIG NIGRELLI

IT’S WEDNESDAY, APRIL 2ND 2025 

AND THESE ARE YOUR UNBIASED UPDATES:

ALL EYES ARE ON TRUMP AND TRADE, TODAY. THE PRESIDENT PROMISING TO LEVY TARIFFS ON OUR TRADE PARTNERS.  THIS MORNING STRAIGHT ARROW NEWS WITH DEEPER LOOK INTO HOW THE TARIFFS WORK AND THE WAY COMPANIES REACT.  

ALSO,  REPUBLICANS CLAIM VICTORY IN TWO FLORIDA SPECIAL ELECTIONS, WHILE DEMOCRATS REJOICE ABOUT A JUDGE IN WISCONSIN. WE HAVE THE RESULTS THAT WILL LIKELY HAVE A NATIONAL RIPPLE EFFECT.

L3: COMPANIES SCRAMBLE TO FIND WAYS AROUND TRUMP’S ‘LIBERATION DAY’ TARIFFS

IT’S “LIBERATION DAY” ACCORDING TO PRESIDENT DONALD TRUMP.   HE HAS PROMISED A NEW WAVE OF TARIFFS TODAY APRIL 2ND, HITTING AMERICAS TRADE PARTNERS WITH LEVIES, IN ORDER TO, LEVEL THE PLAYING FIELD WHEN IT COME TO TRADE.

BUT FOR MANY COMPANIES IT’S NOT SO MUCH A CELEBRATION AS IT IS A SCRAMBLE TO FIGURE OUT HOW TO DEAL WITH THEM OR AVOID THEM.

STRAIGHT ARROW NEWS BUSINESS CORRESPONDENT SIMONE DEL ROSARIO EXPLAINS HOW THE PROCESS WORKS ON VARIOUS LEVELS.

Simone 1] Onshoring, Nearshiring, and Offshoring how tariffs move production

L3: COMPANIES SCRAMBLE TO FIND WAYS AROUND TRUMP’S ‘LIBERATION DAY’ TARIFFS

THAT WAS OUR SIMONE DEL ROSARIO REPORTING.

PRESIDENT TRUMP HAS SAID SOME OF THE TARIFFS HE’S IMPOSING THIS WEEK COULD HELP THE GOVERNMENT RAISE MORE THAN A TRILLION DOLLARS IN THE NEXT YEAR OR SO — WHICH HE’D USE TO HELP REDUCE THE NATIONAL DEBT AND EVEN POTENTIALLY OFFSET SOME INCOME TAXES.

BUT ECONOMISTS THAT WILL BE THE CASE — SINCE CONSUMERS ARE LIKELY TO SPEND LESS ON FOREIGN GOODS ONCE PRICES GO UP.

AND GOLDMAN SACHS NOW SAYS THERE’S A 35 PERCENT PROBABILITY OF A RECESSION — UP SIGNIFICANTLY FROM 20 PERCENT EARLIER IN MARCH.

L3: REPUBLICANS WIN TWO MORE HOUSE SEATS AFTER FLORIDA SPECIAL ELECTION

NOW TO THE SPECIAL ELECTIONS. 

THE REPUBLICANS’ SLIM MAJORITY IN THE HOUSE JUST GOT A LITTLE BIGGER AFTER G-O-P CONGRESSIONAL CANDIDATES IN A PAIR OF FLORIDA DISTRICTS WON SPECIAL ELECTIONS TUESDAY NIGHT.

REPUBLICAN STATE SENATOR RANDY FINE BEAT DEMOCRAT JOSH WEIL FOR THE SIXTH DISTRICT SEAT PREVIOUSLY HELD BY MIKE WALZ, WHO DEPARTED AFTER BECOMING PRESIDENT TRUMP’S NATIONAL SECURITY ADVISOR.  REPUBLICANS WERE VERY ANXIOUS ABOUT THE RACE AFTER WEIL RAISED ALMOST $10-MILLION DOLLARS COMBINED TO FINE’S LESS THAN $1-MILLION.  POLLS SHOWED WEIL GAINING.  BUT FINE PULLED IT OUT

[L3: RANDY FINE, DISTRICT 6 WINNER]

“I’M SUPER EXCITED AT THE OPPORTUNITY. I’M GRATEFUL TO VOTERS.”

L3: REPUBLICANS WIN TWO MORE HOUSE SEATS AFTER FLORIDA SPECIAL ELECTION

WHILE FLORIDA’S CHIEF FINANCIAL ADVISOR, REPUBLICAN JIMMY PATRONIS, DEFEATED DEMOCRAT GAY VALIMONT TO SECURE DISTRICT ONE, WHICH MATT GAETZ  HELD UNTIL JANUARY.   PRESIDENT WENT ON TRUTH SOCIAL LAST CONGRATULATING PATRONIS AND FINE FOR THEIR WINS.

L3: LIBERAL SUSAN CRAWFORD WINS WISCONSIN SUPREME COURT SEAT

IN WISCONSIN, THE MOST EXPENSIVE JUDICIAL RACE IN U-S HISTORY WENT TO  DEMOCRAT-BACKED CANDIDATE FOR THE STATE SUPREME COURT, SUSAN CRAWFORD, WHO BEAT REPUBLICAN-ENDORSED WAUKESHA COUNTY JUDGE BRAD SCHIMEL.

THE TYPICALLY LOW-PROFILE RACE GAINED NATIONAL ATTENTION AS TENS OF MILLIONS OF DOLLARS WAS POURED INTO THE RACE BY BILLIONAIRE ELON MUSK, WHO SPENT SOME 25 MILLION DOLLARS IN SUPPORT OF SCHIMEL.

[SUSAN CRAWFORD, CANDIDATE FOR WISCONSIN SUPREME COURT]

AS A LITTLE GIRL GROWING UP IN CHIPPEWA FALLS, I NEVER COULD HAVE IMAGINED THAT I WOULD BE TAKING ON THE RICHEST MAN IN THE WORLD FOR JUSTICE IN WISCONSIN. AND WE WON.

L3: LIBERAL SUSAN CRAWFORD WINS WISCONSIN SUPREME COURT SEAT

IN TOTAL, THE CANDIDATES AND OUTSIDER GROUPS SPENT  MORE THAN 81-MILLION DOLLARS  ON THE RACE.

GOING INTO THE ELECTION, LIBERALS HELD A FOUR-THREE MAJORITY IN THE SUPREME COURT, WHICH IS EXPECTED TO RULE ON CASES INVOLVING ABORTION RIGHTS, CONGRESSIONAL REDISTRICTING, UNION POWER AS WELL AS VOTING AND ELECTION LAWS.

L3: TRUMP ADMINISTRATION CUTTING MEMBERS OF FDA BIRD FLU RESPONSE TEAM

THE TRUMP ADMINISTRATION IS TERMINATING MEMBERS OF THE U-S FOOD AND DRUG ADMINISTRATION’S BIRD FLU RESPONSE TEAM AS PART OF ITS MASS LAYOFFS AT THE DEPARTMENT OF HEALTH AND HUMAN SERVICES.

THE FIRINGS, CONFIRMED BY THE AMERICAN VETERINARY MEDICAL ASSOCIATION AND REUTERS .

THE MOVE COMES AS MANY EMPLOYEES TRYING ENTER OFFICE BUILDINGS WERE DENIED ACCESS AS PART THE ADMINISTRATION’S PLAN TO REDUCE THE SIZE OF GOVERNMENT.

AMONG THOSE LET GO WERE LEADERSHIP AND ADMINISTRATIVE WORKERS AT THE F-D-A’S CENTER FOR VETERINARY MEDICINE.

AN EMPLOYEE WITH THE CENTER FOR VETERINARY MEDICINE SAYS ALMOST THE ENTIRE ADMINISTRATIVE STAFF WAS FIRED, ALONG WITH EMPLOYEES WHO WORK ON POLICY, LEGAL AND COMMUNICATIONS.

MANAGERS WERE ALSO LET GO,  ACCORDING TO THE EMPLOYEE, WHO TOOK A DEFERRED RESIGNATION 

L3: ISRAEL EXPANDING OFFENSIVE INTO ‘LARGER AREAS’ OF GAZA

NOW TO THE WAR IN THE MIDDLE EAST — AIRSTRIKES CONTINUE IN GAZA TODAY AS ISRAEL SAYS ITS MILITARY IS EXPANDING ITS OFFENSIVE INTO “LARGER AREAS” OF THE WAR-TORN ENCLAVE.

IN A WRITTEN STATEMENT, ISRAELI’S DEFENSE MINISTER SAID THE MOVE IS MEANT TO  “CRUSH AND CLEAN THE AREA OF TERRORISTS AND TERRORIST INFRASTRUCTURE.”

ISRAELI OFFICIALS DID NOT SPECIFY WHICH AREAS OF GAZA WOULD BE SEIZED IN THE EXPANDED OPERATION — BUT IT INCLUDES THE “EXTENSIVE EVACUATION” OF RESIDENTS FROM FIGHTING AREAS.

ISRAEL IS ALSO ONCE AGAIN CALLING FOR THE RETURN OF HOSTAGES TAKEN BY HAMAS IN THEIR INITIAL ATTACK IN OCTOBER 20-23.

THE MILITANT GROUP STILL HOLDS 59 CAPTIVES — 24 OF WHOM ARE STILL BELIEVED TO BE ALIVE.  HAMAS RELEASED OTHERS DURING CEASEFIRE AGREEMENTS.

MEANTIME, PRESIDENT TRUMP POSTED ON TRUTH SOCIAL THAT HE SPOKE WITH THE EGYPTIAN PRESIDENT BY PHONE ABOUT POSSIBLE SOLUTIONS IN GAZA AND THE SUCCESS OF THE U-S AIR STRIKES AGAINST THE HOUTHI REBELS IN YEMEN. 

L3: REMEMBERING ACTOR VAL KILMER

RENOWNED ACTOR VAL KILMER, WHO PLAYED ICEMAN IN “TOP GUN” AND THE CAPED CRUSADER IN “BATMAN FOREVER” HAS DIED AT THE AGE OF 65.

HIS DAUGHTER CONFIRMED HIS DEATH TO THE ASSOCIATED PRESS.

KILMER DIED OF PNEUMONIA TUESDAY NIGHT.

HE WAS DIAGNOSED WITH THROAT CANCER IN 2014 BUT RECOVERED AFTER UNDERGOING TWO TRACHEOTOMIES.

KILMER’S CAREER HIT ITS PINNACLE IN THE EARLY 1990S AS HE STARRED ALONGSIDE KURT RUSSELL AND BILL PAXTON IN 1993’S TOMBSTONE AND ALONGSIDE AL PACINO AND ROBERT DE NIRO IN HEAT.

ACTOR JOSH BROLIN, A FRIEND OF KILMER, POSTED a TRIBUTE TO HIM ON INSTAGRAM, SAYING, “YOU WERE A SMART, CHALLENGING, BRAVE, UBER-CREATIVE FIRECRACKER. THERE’S NOT A LOT LEFT OF THOSE.”

L3: NFL REPLACING ‘CHAIN GANGS’ WITH NEW TECH FOR THE 2025 SEASON

FINALLY THIS MORNING — THE N-F-L IS GETTING RID OF ITS “CHAIN GANGS” FOR THE 20-25 SEASON.

INSTEAD — THEY’LL DETERMINE WHETHER TEAMS HAVE MADE a FIRST DOWN BY USING SONY’S HAWK-EYE SYSTEM OF SIX 8-K CAMERAS, PLACED AROUND EVERY STADIUM, TO OPTICALLY TRACK THE POSITION OF THE BALL.

HOWEVER, THE CHAIN GANG — WHICH IS THE NICKNAME OF THE TEAM OF OFFICIALS that WALK ONTO THE FIELD IN CRITICAL MOMENTS TO MEASURE WHETHER THE BALL HAS GONE 10 YARDS — WILL  “REMAIN ON THE FIELD IN A SECONDARY CAPACITY.”

THAT’S NOT THE ONLY CHANGE COMING TO THE 20-25 SEASON.

STRAIGHT ARROW NEWS REPORTER CHRIS FRANCIS HAS THE DETAILS ON WHAT WAS — AND WAS NOT — DECIDED AT THE MOST RECENT  OWNERS’ MEETINGS.

THESE ARE YOUR UNBIASED UPDATES FOR THIS WEDNESDAY.

WE’LL SEE YOU BACK HERE TOMORROW.

FOR ALL OF US HERE AT STRAIGHT ARROW NEWS — I’M CRAIG NIGRELLI.

HAVE A GREAT DAY!