Trump live updates: Apple stocks tumble in response to ‘Liberation Day’ as senior Republicans speak out on tariffs

Trump reciprocal tariff chart in full

Donald Trump unveiled which countries would face his reciprocal tariffs in his ‘Liberation Day’ speech Wednesday (Donald Trump/Truth Social )

James Liddell3 April 2025 10:00

Trump appears to distance himself from Musk

President Donald Trump has privately told Cabinet members that Elon Musk will step back from his role in the administration soon, according to several reports.

Musk, who has been leading the Department of Government Efficiency’s efforts to reduce the federal workforce and budget drastically, will soon step into a supporting role, anonymous Trump insiders told Politico and ABC News. Trump discussed this with Cabinet members at a March 24 meeting, Politico reports.

The tech mogul is officially designated as a “special government employee,” which means his role expires after 130 days. That would mean the role ends in late May or early June, but many expected the White House to extend the role or find another way to keep him in a front-line position, ABC News reports.

Katie Hawkinson reports from Washington D.C.

James Liddell3 April 2025 09:45

Apple stocks slide after Trump’s tariffs unveiled

Donald Trump’s latest batch of global tariffs sent shockwaves through markets, seeing Apple stock slide more than six percent in late-night trading Wednesday.

The president announced that blanket 10 percent tariffs on all countries and much higher levies on “worst offenders” such as China and Taiwan.

The majority of Apple’s devices are manufactured in China and other Asian countries.

Stocks broadly got hit by Trump’s announcement with the S&P 500 plunging 2.8 percent, while the Nasdaq 100 lost more than 3 percent, according to exchange-traded funds tracking the markets.

Nevertheless, Trump praised Apple – along with other tech goliaths including Meta and Nvidia – for investing in the U.S.

“Apple is going to spend $500 billion, they never spent money like that here,” Trump said. “They’re going to build their plants here.”

James Liddell3 April 2025 09:41

Four Republican senators defy Trump and vote to oppose Canada tariffs

Four Republicans joined every Democratic senator in a resolution Wednesday to oppose President Donald Trump’s tariffs against Canada, Washington Bureau Chief Eric Garcia writes.

Senators voted 51-48 to reject the national emergency Trump declared earlier this year to justify slapping 25 percent tariffs on Canadian imports.

The vote followed Trump’s announcement of his “Liberation Day” tariffs, a series of across-the-board levies of at least 10 percent on all nations.

Senators Lisa Murkowski of Alaska, Mitch McConnell of Kentucky and Susan Collins of Maine joined Senator Rand Paul of Kentucky, who crafted a resolution to oppose Trump’s tariffs with Senator Tim Kaine, a Democrat from Virginia.

James Liddell3 April 2025 09:30

Trump tariffs hits uninhabited island home to penguins, not people

Donald Trump imposed tariffs on uninhabited islands home to penguins and seals and a U.S. military base on Wednesday.

The president imposed tariffs on the uninhabited Heard and McDonald Islands in the sub-Antarctic Indian Ocean.

The mostly barren UNESCO World Heritage site was featured on Trump’s list of areas that now face a minimum of 10 percent tariffs on U.S. imports, along with mainland Australia.

Gustaf Kilander has the story.

James Liddell3 April 2025 09:10

Watch: Trump brings out big chart of tariffs during ‘Liberation Day’ speech

Watch: Trump brings out big chart to list tariffs during ‘Liberation Day’ speech

US President Donald Trump brought a large chart on stage during his “Liberation Day” announcement to outline his reciprocal tariffs plan. Speaking in the White House Rose Garden, he explained that the U.S. would tax imports at 50 percent of what other countries tax American goods. “The other countries, and they all understand, we’re gonna have to go through a little tough love maybe,” he said. “They all understand they’re ripping us off.” His examples included Vietnam (90% / 46%), Taiwan (64% / 32%), Japan (46% / 24%), and the UK, which will face a 10 percent tariff, the minimum base level, according to Trump.

Oliver O’Connell3 April 2025 08:50

Secretary of Commerce: European beef ‘is weak’

Secretary of Commerce Howard Lutnick took a swipe at the European Union for not taking U.S. farm goods just hours after President Donald Trump imposed a new 20 percent tariff on the trade bloc.

“European Union won’t take chicken from America. They will take lobsters from America,” Lutnick told Fox News. “They hate our beef because our beef is beautiful and theirs is weak.”

Watch his comments below:

James Liddell3 April 2025 08:39

ANALYSIS: Trump just watched a referendum on Elon Musk and DOGE. He should be worried

But Tuesday’s elections took on an even greater significance. The races in Wisconsin and Florida were the first to go to voters since Kamala Harris’s devastating defeat in November, a swing-state sweep that saw the Democrats lose ground in every battleground state and even reliable blue strongholds.

Despite being an “off year,” many voters (especially on the left) have remained active and engaged over the first three months of Donald Trump’s presidency.

Oliver O’Connell3 April 2025 08:30

Trump finally unveiled his long-awaited tariff plan. Here’s what happened on ‘Liberation Day’

Alex Woodward reports from New York.

Oliver O’Connell3 April 2025 08:00

CNBC reacts right after Trump’s “Liberation Day” tariff announcement: “And the market reaction after hours — I’ve never seen anything like it. This — I think, fair to say — is worse than the worst-case scenario of the tariffs that many in the market expected the president to impose.”

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— Justin Baragona (@justinbaragona.bsky.social) April 2, 2025 at 5:12 PM

CNBC anchor calls Trump tariffs ‘worse than worst-case scenario’3 April 2025 07:30

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