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4:45 PM ET, April 3, 2025

memeorandum

 Top Items: 
The Economist:
President Trump's mindless tariffs will cause economic havoc  —  But the rest of the world can limit the damage  —  If you failed to spot America being “looted, pillaged, raped and plundered by nations near and far” or it being cruelly denied a “turn to prosper”, then congratulations …
RELATED:
Paul Krugman:
Will Malignant Stupidity Kill the World Economy?  —  A quick thank you to my readers.  When I struck out on my own, I wasn't sure if anyone would follow.  But I just passed 300K subscribers.  I'll try to be worthy of your support.  —  America created the modern world trading system.
Josh Fiallo / The Daily Beast:
Trump Jets Off to Watch Golf as U.S. Economy Goes Up in Flames  —  TRUMPENOMICS  —  The stock market is in free fall, but the president is headed to Florida.  —  President Donald Trump's response to a tanking U.S. stock market—brought on by his sweeping tariff announcement Wednesday—is to fly to Florida.
David Dayen / American Prospect:
They're Not Tariffs, They're Sanctions  —  Stop trying to place coherence on a policy that's really just a mob boss breaking legs and asking for protection money.  —  President Donald Trump departs after signing an executive order on tariffs in the Rose Garden at the White House, April 2, 2025, in Washington.
Dominic Preston / The Verge:
Trump's new tariff math looks a lot like ChatGPT's  —  ChatGPT, Gemini, Grok, and Claude all recommend the same “nonsense” tariff calculation. … When President Donald Trump began yesterday's announcement of the White House's latest trade policy brandishing a novelty-sized cardboard sign labeled …
Josh Wingrove / Bloomberg:
Trump's ‘Reciprocal’ Tariff Formula Is All About Trade Deficits … President Donald Trump's administration calculated its raft of new tariffs primarily based on existing trade balances — a departure from pledges to match the tariff rates and other trade barriers from other countries.
Wall Street Journal:
Trump's New Protectionist Age
Pema Levy / Mother Jones:
Trump's Tariffs Give Him a New Way to Dole Out Reward and Punishment
Tom D'Angelo / Palm Beach Post:
Donald Trump expected to make appearance at LIV Golf in Doral. Will he play in the Pro-Am?
Discussion: Washington Post
Camille Gijs / Politico:
EU ‘prepared’ to retaliate against Trump's 20 percent tariffs
CNN:
White House fires three NSC staffers after president meets with far-right activist Laura Loomer  —  The White House has fired at least three National Security Council staffers, three sources familiar with the move told CNN.  —  The firings came after Laura Loomer, the far-right activist …
RELATED:
Axios:
Scoop: Multiple firings on Trump's National Security Council after Loomer visit  —  Several members of President Trump's embattled National Security Council have been fired, a U.S. official and a second source familiar told Axios on Thursday.  —  Why it matters: The firings come …
Michael C. Bender / New York Times:
Trump Administration Live Updates: Security Officials Said to Be Fired at Conspiracy Theorist's Urging  —  Where Things Stand  — Security officials fired: President Trump fired at least three senior National Security Council officials at the urging of the far-right conspiracy theorist Laura Loomer …
Discussion: WPR
Rolling Stone:   Trump Fires NatSec Officials After Meeting With Far-Right Conspiracy Theorist
Associated Press:   Trump moves to fire several national security officials over concerns they're not loyal: AP sources
Ben Leonard / Politico:
Top Republican leads bill to reassert Congress' tariff power amid Trump trade war  —  Sen. Chuck Grassley, a senior Republican lawmaker from the farm-heavy state of Iowa, is spearheading new legislation that would reassert Congress' authority over tariffs amid President Donald Trump's trade war escalation.
RELATED:
Victoria Guida / Politico:
‘This Could Get Much Uglier’: The Fatal Flaw In Trump's Trade War
Danielle Wallace / Fox News:
Senate approves resolution against Trump's Canada tariffs hours after ‘Liberation Day’ event
Catie Edmondson / New York Times:
Republicans Plan to Skirt Senate Rules to Push Through More Tax Cuts
Discussion: Talking Points Memo
Michael Wayland / CNBC:
Stellantis idles plants in Mexico and Canada due to tariffs … DETROIT — Stellantis is pausing production at two assembly plants in Canada and Mexico as the company attempts to navigate President Donald Trump's new round of 25% automotive tariffs that took effect Thursday.
RELATED:
Reuters:
Stellantis says it will temporarily lay off 900 US workers following tariff announcement
Tara Copp / Associated Press:
Pentagon's watchdog to review Hegseth's use of Signal app to convey plans for Houthi strike  —  The Pentagon's acting inspector general announced Thursday that he would review Defense Secretary Pete Hegseth's use of the Signal messaging app to convey plans for a military strike against Houthi militants in Yemen.
RELATED:
Michael C. Bender / New York Times:
Trump Administration Threatens to Withhold Funds From Public Schools  —  State education officials will be required to verify that they have eliminated all programs that promote diversity, equity and inclusion that the administration deems unlawful, according to a new memo.
Discussion: The Hill and masslive.com
RELATED:
Stan Choe / Associated Press:
Dow drops 1,400 as US stocks lead worldwide sell-off after Trump's tariffs ignite a COVID-like shock  —  Financial markets around the world are reeling Thursday following President Donald Trump's latest and most severe set of tariffs, and the U.S. stock market is taking the worst of it so far.
RELATED:
Lauren Aratani / The Guardian:
US stock markets see worst day since Covid pandemic after investors shaken by Trump tariffs
Discussion: Quartz and Bloomberg
Lauren Irwin / The Hill:
Trump ordered to pay legal fees in ‘Steele dossier’ lawsuit  —  A judge in the United Kingdom has ordered President Trump to pay more than $820,000 in legal fees to the company representing former British spy Christopher Steele after he unsuccessfully sued over a dossier.
Robin Wigglesworth / Financial Times:
‘Beware a dollar confidence crisis’ — DB  —  Taking another look at the puzzling greenback puke  —  There's a lot going on at the moment, but the most interesting might be how the dollar has been absolutely tanked by yesterday's tariff news.  —  The DXY dollar index has plunged 1.7 per cent today …
Discussion: Reuters, Semafor and Wausau
The Straits Times:
Radio Free Europe says US switches off satellite transmitting Russia broadcast  —  PRAGUE - The head of Radio Free Europe/Radio Liberty said on April 3 that the US government had switched off a satellite that transmitted its Russian-language programme into Russia.
Alexander Tin / CBS News:
RFK Jr. cuts CDC labs investigating outbreaks of STDs and hepatitis  —  Health and Human Services Secretary Robert F. Kennedy Jr. has eliminated the Centers for Disease Control and Prevention's laboratories for sexually transmitted diseases and hepatitis, multiple officials tell CBS News, disrupting ongoing work to respond to outbreaks.
Sally Goldenberg / Politico:
Adams to skip New York City's Democratic primary, run for reelection on nonpartisan line  —  The mayor has been at odds with his party and wants time to recover from now-dismissed federal charges.  —  NEW YORK — Mayor Eric Adams is opting out of New York City's Democratic primary and running …
Lily Meier / Bloomberg:
‘Oh Sh-t’: RH Chief Is Shocked as Tariffs Drag Down Stock 44% … “Oh sh-t.”  That was RH Chief Executive Officer Gary Friedman's reaction to what was happening to the luxury furniture maker's stock price on Wednesday evening.  —  Donald Trump had just announced plans for an avalanche …
Discussion: CNBC, Quartz and Fortune
 
 
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 More Items: 
Shalise Manza Young / The Contrarian:
Why Trump's Smithsonian executive order is especially painful
Discussion: New York Times and Washington Post
Ben Johansen / Politico:
Kennedy shutters several FOIA offices at HHS
Discussion: NPR
David A. Super / The Hill:
The hidden patterns in Trump's executive orders
Kathleen Matthews / Washington Monthly:
The U.S. Agency for Global Media Was Working
Bernie Sanders / Fox News:
SEN BERNIE SANDERS: We have a government of billionaires, by billionaires and for billionaires
Discussion: Washington Examiner
Alexander Bolton / The Hill:
Collins concerned budget language could lead to Medicaid cuts
Discussion: Politico
Judy Kurtz / The Hill:
White House postpones Saturday garden tours due to anti-Trump demonstrations
Discussion: Axios
 Earlier Items: 
Janna Brancolini / The Daily Beast:
Newsmax Shares Plunge 80 Percent After Briefly Being Valued Higher Than Fox
Default:
Learning From the Legacy of 18F
Gabby Deutch / Jewish Insider:
ADL's Greenblatt calling out ‘disturbing pattern’ in Trump's deportation campaign
Discussion: Frontpage Mag
Ian Dunt / The i Paper:
Trump's downfall begins now - his paranoia and baseless rage is his undoing
Discussion: Raw Story
Felix Salmon / Axios:
A third global recession in 20 years looms
Discussion: Daily Kos and The New European
 

 
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Daniel Thomas / Financial Times:
Netflix agrees to acquire WBD's studios and streaming business in an $82.7B cash-and-stock deal, including debt, to close after WBD splits in two in Q3 2026

Foo Yun Chee / Reuters:
The EU fines X €120M for breaching online content rules, the first fine under the DSA, citing issues like its deceptive blue checkmarks, after a two-year probe

New York Times:
The New York Times sues Perplexity, claiming the AI startup violated its copyrights and kept using its content despite repeated demands over the past 18 months
 
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