Experts warn of worst-case scenario $1.4tn trade war Researchers have placed the economic impact of tariffs at $1.4 trillion – if it escalates into a full-scale trade war.Economists from Aston University, based in the U.K., conducted an analysis of the worst-case scenario following the potential fallout of Donald Trump’s reciprocal “Liberation Day” tariffs. Professor Jun Du told the Financial Times that if countries were to impose 25 percent tariffs on one another, it would have similar impacts to the 1930 trade war that deepened the Great Depression.“The study reaffirms that no economy emerges unscathed from systemic tariff escalations, as retaliatory spirals fracture multilateral co-operation and amplify global instability,” Du said. James Liddell1 April 2025 14:00Watch: Trump welcomes ‘good friend’ Kid Rock into Oval Office Trump calls friend Kid Rock ‘Bob’ after rapper makes bizarre Oval Office appearanceJames Liddell1 April 2025 13:39Senator now been speaking for 13 hours in protest against Trump and MuskNew Jersey Senator Cory Booker has been speaking on the Senate floor for more than 15 hours to obstruct proceedings while staying within the governing body’s rules in protest of the actions of the Trump administration.Booker has been speaking since 7 p.m. ET on Monday evening to “disrupt” the Senate because “our nation is in crisis.” He said he would keep going “as long as I am physically able.”The speech is not classed as a filibuster as he is not blocking a nomination or legislation, and lawmakers finished voting on Monday before he started speaking.Steffie Banatvala has more. James Liddell1 April 2025 13:24Trump admin sued by Democrats over elections executive order Democrats have sued the Trump administration over the president’s executive order calling for a change in the election system. Donald Trump signed the “Preserving and Protecting the Integrity of American Elections” order last week, which would include proof of citizenship and prevent states from counting mail-in ballots arriving after Election Day. The suit from Senate Minority Leader Chuck Schumer, House Minority Leader Hakeem Jeffries, the Democratic National Committee and other Democratic groups; and one from several nonprofits argue that the order is unconstitutional.The federal lawsuits filed in the District Court in Washington, D.C. attempting to block the action both say Trump lacks the authority to impose his order. James Liddell1 April 2025 13:14Trump ‘prefers’ the universal approach to tariffs Trump prefers a single, universal approach to tariffs rather than applying a different import tax rate to individual countries, sources told the Washington Post. White House advisers are still exploring several different options and the president could always change his mind, the sources added. James Liddell1 April 2025 12:52ICYMI: Kid Rock joins Trump in Oval Office as he signs executive ordersKid Rock joined Donald Trump in the Oval Office Monday as the president signed an executive order that he says will help curb ticket scalping. “Anyone who’s bought a concert ticket in the last decade, maybe 20 years — no matter what your politics are — knows that it’s a conundrum,” the singer said. The order, which is designed to stop “price-gouging by middlemen,” directs Attorney General Pam Bondi and Treasury Secretary Scott Bessent to ensure that scalpers offering tickets at prices above their face value comply with all Internal Revenue Service rules.James Liddell1 April 2025 12:30Just in: Trump aides draft proposal for 20% tariffs on ‘most imports’ to US, sources say White House aides have drafted a proposal to impose 20 percent tariffs on most imports into the U.S., three sources told the Washington Post early on Tuesday. Despite Donald Trump claiming on Monday evening that he had “settled” on his “Liberation Day” tariffs, the sources said that several options remain on the table with no final decision being made. One of the options would see import taxes raised on products from almost every country, per The Post. The White House is also weighing an order that would apply a different tariff rate to individual countries, according to the sources. James Liddell1 April 2025 12:07State Department raises concerns over free speech in the UKThe U.S. Department of State has made a rare intervention in British politics, warning of its “concerns about freedom of expression in the United Kingdom”.The department issued a statement on X highlighting fears about the prosecution of anti-abortion campaigner Livia Tossici-Bolt.It said she faces criminal charges for offering conversation with patients seeking abortions within a legally prohibited “buffer zone” outside a clinic. “We are monitoring her case. It is important that the UK respect and protect freedom of expression,” the State Department’s dedicated democracy, human rights and labour (DRL) account posted. “US-UK relations share a mutual respect for human rights and fundamental freedoms,” It added. “However, as Vice President Vance has said, we are concerned about freedom of expression in the United Kingdom.”Archie Mitchell has the full details. James Liddell1 April 2025 11:37Musk ‘stressed’ as critical Wisconsin Supreme Court race nears climaxElon Musk said that he was “stressed” about the Wisconsin Supreme Court election at an 11th-hour tele-town hall on Monday. “There’s a good chance it decides whether Republicans or Democrats control the House of Representatives,” Musk explained. He later issued a dire warning: Democrats could take control of the presidency, and claim a supermajority House, Senate, and Supreme Court.“This would be catastrophic and it would destroy the agenda for reform. It would make it almost impossible for the reforms that are underway to take place,” Musk continued. “I’m really asking from the bottom of my heart here, please go out and vote.” “To be honest, I’m pretty stressed about it,” he added. On Tuesday, voters in Wisconsin will cast their ballots in the highly contentious and consequential election – and the most expensive judicial battle in U.S. history with more than $90 million in funding being poured into the race. Musk has donated an estimated $20 million into Schimel’s campaign coffers. The election is being regarded as one of the first major tests of the second Trump term. James Liddell1 April 2025 11:13
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Trump aides draft proposal for 20% tariffs on ‘most imports’ to US as Liberation Day deadline looms: Live
