Trump reaffirms support for tariffs despite stock market losses

[CRAIG NIGRELLI]

GOOD MORNING

I’M CRAIG NIGRELLI

IT’S THURSDAY, APRIL 4TH, 2025

AND THESE ARE YOUR UNBIASED UPDATES:

TARIFF FALLOUT.  STOCKS TUMBLE AFTER PRESIDENT TRUMP ANNOUNCES ACROSS THE BOARD 10 % LEVIES AND RECIPROCAL TARIFFS AGAINST MORE THAN 180 COUNTRIES.

WHAT THE PRESIDENT SAID ABOUT THE MARKET, GOING FORWARD. 

AND — A JUDGE NOW SAYS HE MAY HOLD THE GOVERNMENT IN CONTEMPT OF COURT OVER DEPORTATION FLIGHTS TO EL SALVADOR.

HIS REASON FOR THE POTENTIAL ORDER AND HOW THE JUSTICE DEPARTMENT IS RESPONDING.

L3: TRUMP DOUBLES DOWN ON SUPPORT FOR TARIFFS DESPITE U.S. STOCK MARKET LOSSES

PRESIDENT DONALD TRUMP REAFFIRMED HIS COMMITMENT TO TARIFFS IMPOSED THIS WEEK ABOARD AIR FORCE ONE, COMPARING THE U-S ECONOMY TO  SOMEBODY WHO JUST HAD SURGERY,  SURVIVED THE OPERATION, AND IS NOW RECOVERING.

THE PRSIDENT SHOWING OPTIMISM DESPITE THE DOW JONES INDUSTRIAL AVERAGE PLUNGING MORE THAN 16-HUNDRED POINTS YESTERDAY AS U-S STOCKS LED BY A GLOBAL SELL-OFF AFTER HE ANNOUNCED RECIPROCAL TARIFFS AGAINST MORE THAN 180 COUNTRIES AND TERRITORIES.

IT WAS A SICK PATIENT. IT WENT THROUGH AN OPERATION ON LIBERATION DAY. AND IT’S GOING TO BE– IT’S GOING TO BE A BOOMING COUNTRY, A VERY BOOMING COUNTRY,  IT’S GOING TO BE AMAZING ACTUALLY. AND WE SEE IT BECAUSE WE HAVE TRILLIONS OF DOLLARS COMMITTED TO COME IN. TRILLIONS.

ON WEDNESDAY THE PRESIDENT ANNOUNCED A 10 % ACROSS THE BOARD TARIFF ON IMPORTS, WITH THE TAX RATE EVEN HIGHER ON PRODUCTS FROM COUNTRIES LIKE CHINA, JAPAN AND VIETNAM,  AS WELL AS MEMBERS OF THE EUROPEAN UNION.

THIS MORNING, STOCK FUTURES ARE AGAIN LOWER, DESPITE PRESIDENT TRUMP REMARKING LATE YESTERDAY THAT THE MARKETS ARE GOING TO QUOTE ” BOOM”

STRAIGHT ARROW NEWS’ SIMONE DEL ROSARIO BREAKS DOWN THE IMPACT PRESIDENT TRUMP’S “LIBERATION DAY” IS HAVING ON THE MARKETS. 

L3: NSA DIRECTOR REPORTEDLY FIRED BY TRUMP ADMINISTRATION

THE TRUMP ADMINISTRATION HAS FIRED THE HEAD OF THE THE NATIONAL SECURITY AGENCY AND U-S CYBER COMMAND  — ACCORDING TO MULTIPLE SOURCES.

GENERAL TIMOTHY HAUGH WAS DISMISSED AND HIS  DEPUTY DIRECTOR — WENDY NOBLE, REASSIGNED.

ACCORDING TO THE WASHINGTON POST, NOBLE WILL TAKE A DIFFERENT POSITION IN THE PENTAGON.

IT’S NOT YET CLEAR WHY THEY WERE FIRED — BUT IT COMES AMID LOTS OF CHANGE IN GOVERNMENT STRUCTURE SO FAR IN PRESIDENT DONALD TRUMP’S NEW TERM.

U-S CYBER COMMAND DEPUTY LIEUTENANT GENERAL WILLIAM HARTMANN HAS REPORTEDLY BEEN NAMED ACTING N-S-A DIRECTOR — AND SHEILA THOMAS, WHO WAS THE EXECUTIVE DIRECTOR AT THE N-S-A, IS NOW ACTING DEPUTY.

L3: JUDGE BLOCKS TRUMP ADMIN. OVER $11B IN CUTS TO PUBLIC HEALTH FUNDING

A FEDERAL JUDGE THURSDAY TEMPORARILY BLOCKED THE TRUMP ADMINISTRATION’S ATTEMPT TO CUT MORE THAN 11 BILLION DOLLARS IN PUBLIC HEALTH FUNDING TO STATES,  AS NEARLY TWO DOZEN STATES AND THE DISTRICT OF COLUMBIA SUED IN ORDER TO KEEP THE MONEY FLOWING.

THE STATES ARE TAKING LEGAL ACTION AGAINST, THE DEPARTMENT OF HEALTH AND HUMAN SERVICES AND SECRETARY ROBERT F. KENNEDY, SAYING THE MONEY IS NEEDED FOR “URGENT PUBLIC HEALTH NEEDS,” INCLUDING THE MONITORING OF DISEASES, VACCINES. AS WELL AS MENTAL HEALTH AND ADDICTION SERVICES.

THE TRUMP ADMINISTRATION CONTENDS THE END OF THE COVID-19 PANDEMIC JUSTIFIES CUTTING FUNDING, WHICH WAS FIRST OFFERED TO STATE AND LOCAL HEALTH DEPARTMENTS DURING THE PUBLIC HEALTH EMERGENCY CAUSED BY THE CORONA VIRUS.

THURSDAY’S HEARING WAS HELD IN FRONT OF JUDGE MARY S. MCELROY, WHO WAS APPOINTED BY PRESIDENT DONALD TRUMP DURING HIS FIRST TERM IN OFFICE.

NEW YORK ATTORNEY GENERAL LETITIA JAMES, WHO REPRESENTS ONE OF THE STATES IN THE LAWSUIT, WROTE ON X, SHE WILL “CONTINUE TO FIGHT TO ENSURE STATES CAN PROVIDE THE MEDICAL SERVICES AMERICANS NEED.” SHE AND DONALD TRUMP HAVE SPARRED OVER VARIOUS LAWSUITS IN THE LAST FEW YEARS. 

L3: JUDGE SAYS HE MAY HOLD TRUMP ADMIN. IN CONTEMPT OVER DEPORTATION FLIGHTS

A FEDERAL JUDGE SAYS THERE’S A “FAIR LIKELIHOOD” THE TRUMP ADMINISTRATION VIOLATED HIS ORDER TO TURN AROUND A PAIR OF PLANES CARRYING SUSPECTED VENEZUELAN GANG MEMBERS AND SAYS HE MAY HOLD THE GOVERNMENT IN CONTEMPT OF COURT OVER THE MATTER.

JUDGE JAMES BOASBERG, WHO BLOCKED THE ADMINISTRATION’S DEPORTATION FLIGHTS OF Apparent TREN DE ARAGUA GANG MEMBERS LAST MONTH, SAID THURSDAY, THE ADMINISTRATION POSSIBLY “ACTED IN BAD FAITH” BY NOT RETURNING THE PLANES TO THE U-S.

INSTEAD, THE FLIGHTS PROCEEDED TO EL SALVADOR, WHERE MORE THAN 200 VENEZUELAN NATIONALS ARE NOW  IN A MAXIMUM SECURITY PRISON.

BOASBERG ISSUED A TEMPORARY ORDER HALTING DEPORTATIONS UNDER THE ALIEN ENEMIES ACT, THAT THE TRUMP ADMINISTRATION WAS USING TO DEPORT THE SUSPECTED ILLEGAL IMMIGRANTS.

AT THURSDAY’S HEARING, THE DEPARTMENT OF JUSTICE ATTORNEY ARGUED THE GOVERNMENT COMPLIED WITH BOASBERG’S ORDER, BUT DID NOT KNOW WHO INSTRUCTED THE PLANES TO CONTINUE TO EL SALVADOR.

L3: SOUTH KOREA’S IMPEACHED PRESIDENT REMOVED OVER MARTIAL LAW ORDER

SOUTH KOREA’S CONSTITUTIONAL COURT HAS OFFICIALLY OUSTED EMBATTLED PRESIDENT YOON SUK YEOL.

THE COURT’S UNANIMOUS DECISION ON FRIDAY MARKS YOON’S FORMAL DISMISSAL FROM THE PRESIDENCY AFTER PARLIAMENT VOTED TO IMPEACH HIM IN DECEMBER, WHEN HE BRIEFLY DECLARED MARTIAL LAW.

HIS REMOVAL TAKES EFFECT IMMEDIATELY — MEANING HE MUST NOW LEAVE THE PRESIDENTIAL RESIDENCE. THERE WILL ALSO BE AN ELECTION TO REPLACE HIM.

RIGHT NOW — SOUTH KOREAN PRIME MINISTER HAN DUCK-SOO IS ACTING AS PRESIDENT.

IN A SEPARATE CRIMINAL TRIAL — POLICE ARRESTED YOON IN JANUARY ON CHARGES OF LEADING AN INSURRECTION.

HOWEVER, HE WAS RELEASED IN MARCH AFTER A COURT CANCELED HIS ARREST WARRANT,  THOUGH THE CHARGES WERE NOT DROPPED.

L3: WOMEN’S FINAL FOUR FEATURES FOUR POWER SCHOOLS LOOKING TO MAKE HISTORY

FINALLY THIS MORNING –IT’S FINAL FOUR WEEKEND IN THE NCAA BASKETBALL TOURNAMENT.  

THERE ARE JUST FOUR TEAMS LEFT IN THE RUNNING ON BOTH SIDES.

STRAIGHT ARROW NEWS SPORTS REPORTER CHRIS FRANCIS HAS A LOOK AT THE POWER SCHOOLS LOOKING TO MAKE HISTORY,  AS THE WOMEN’S FINAL FOUR TIPS OFF TONIGHT.