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04.09.2025

 

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Good morning. It's Wednesday, April 9, and we're covering ongoing trade tensions, a tragedy in the Dominican Republic, and much more. First time reading? Join over 4 million intellectually curious readers. Sign up here.

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Need To Know
 

Massive China Tariffs

The US is set to impose 104% tariffs on Chinese goods today, following through on President Donald Trump's trade threats. The escalation comes after China retaliated against the US with a 34% tariff on American products, which was a response to Trump's 34% tariff on all imported Chinese goods atop an existing 20% tariff. 

 

Last year, bilateral trade between China and the US reached $585B, with a $295B US deficit. Analysts warn prolonged tensions could disrupt global supply chains, inflate prices, and destabilize roughly 43% of global GDP represented by both economies. See business leaders' reactions here and a breakdown of US-China trade here.

 

The US will also begin collecting new country-specific tariffs (see chart) from 85 other trading partners today. Treasury Secretary Scott Bessent noted roughly 70 countries have approached the US to begin trade talks after last week's tariff rollout, while Trump has signaled a potential trade deal with South Korea. 

 

US stock markets fell again yesterday (S&P 500 -1.6%, Dow -0.8%, Nasdaq -2.2%), with Apple losing its most valuable public company title to Microsoft. Apple is considering shifting its iPhone production to India to offset tariff costs. See how tariffs can raise iPhone prices here.

 

DR Rooftop Collapse

A roof collapse at a music venue in Santo Domingo, Dominican Republic, killed at least 98 people and injured more than 160 others early Tuesday. Authorities have not yet weighed in on the cause of the tragedy, which killed provincial governor Nelsy Cruz, sister of former MLB power hitter Nelson Cruz, as well as the performer Rubby Pérez and his saxophonist. 

 

The roof of the Jet Set music venue fell while merengue musician Pérez was performing shortly after midnight (see video of aftermath, via X). An estimated 500 people were in attendance at one of the country’s most famous clubs, which is well known for its Monday shows. President Luis Abinader received a call from Nelsy Cruz, the governor of the northwestern Montecristi province, while she was trapped (she later died at a hospital). Rescuers continued to extract people from the rubble throughout the day Tuesday. See photos here.

 

Other individuals who died in the incident include former MLB players Octavio Dotel and Tony Blanco. 

 

Royal Security Battle

Prince Harry appeared at England’s Court of Appeal yesterday to challenge the reduction of his taxpayer-funded security. He argued the Royal and VIP Executive Committee’s decision to deny him and his family police protection normally granted to royal family members was procedurally unfair and exposed them to security risks during visits to the UK.

 

The challenge follows a 2020 ruling by RAVEC—a committee including government, law enforcement, and royal representatives—that downgraded Harry's automatic protection to security provided on a case-by-case basis after he stepped back from royal duties. Harry filed a judicial review in 2021, alleging RAVEC failed to follow its own protocols, conduct proper risk assessments, or ensure a transparent process. A 2024 High Court ruling upheld RAVEC’s decision, but Harry later secured limited appeal rights. The government maintains security is based on risk, not status, and the change in royal duties justified his downgraded protection.

 

The two-day hearing concludes today, with judges expected to reserve their decision. Either party may seek Supreme Court appeal rights afterward.

In partnership with SmartAsset

7 Mistakes When Choosing A Financial Advisor

 

Working with a financial advisor can be a crucial part of any healthy retirement plan. 

 

Research suggests that people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.* But choosing the wrong one could wreak havoc. Avoiding these 7 mistakes people make when hiring an advisor could potentially help reduce financial stress. 

 

Interested in finding a vetted financial advisor? SmartAsset's no-cost tool can help you find and compare vetted fiduciary advisors serving your area, each legally bound to work in your best interest. You may even be able to instantly connect for a free introductory consultation. Take the free advisor match quiz.

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In The Know
 

Sports, Entertainment, & Culture

> Tom Cruise's "Mission: Impossible—The Final Reckoning," the eighth installment in the film franchise, will premiere at the Cannes Film Festival (May 13-24) in France; Cannes is set to release its full lineup tomorrow (More

> UEFA Champions League quarterfinals kicks off; see latest schedule and bracket (More) | Denver Nuggets fire head coach Michael Malone less than two years after Malone helped lead the Nuggets to an NBA championship (More)

> "Adolescence" hauls in over 114 million views to become Netflix's fourth most-watched English-language show ever (More

Coachella: This week's Society & Culture newsletter explores the history of the annual California music and arts festival, from Pearl Jam to Daft Punk. Sign up here for free!

 

Science & Technology

> Renewable energy provided a record 32% of global electricity in 2024, analysis finds; overall demand rose 4%, driven by heat waves and power-intensive data centers (More

> British doctors report the first baby in the country to be born via womb donation; the 36-year-old patient received the UK's first successful uterus transplant in 2023, gave birth in February (More

> Engineers develop brain-computer interface thin enough to fit between individual hair follicles (More) | How BCIs work (1440 Topics)

In partnership with Mode Mobile

Meet The New Face of Thinking Different

A game-changing product and industry-shifting vision. All that’s missing is a black turtleneck. But no, it’s not Steve Jobs. 

 

It’s Dan Novaes, Mode Mobile’s innovative founder who’s transforming phones from expenses to income generators. By paying and saving users $325M+, Mode’s already made $60M+ in revenue. They’ve even got retail partnerships with Best Buy and Walmart. 

 

And that’s not all. Mode just reserved the Nasdaq ticker “$MODE,” but there’s no need for you to wait. Invest before their share price changes 5/1 (and get up to 2X bonus stock).**

 
 

Business & Markets

> US venture capital firm Andreessen Horowitz seeks to raise $20B in the largest fund in its history amid global interest in US artificial intelligence startups (More) | What is venture capital? (1440 Topics

> President Donald Trump signs executive order to boost US coal mining, including defining coal as a "mineral" and allowing some coal-fired power plants set for retirement to remain operational to meet rising AI power demand (More

> Justice Department shuts down its national cryptocurrency fraud unit, orders prosecutors to narrow cryptocurrency investigations to focus on crimes involving drug cartels and terrorist groups (More

Tax deadline looms: This week's 1440 Business & Finance newsletter unpacks the income tax, from the history of the 16th Amendment to using tax law to tackle the mob. Sign up here for free!

 

Politics & World Affairs

> US Supreme Court temporarily clears the Trump administration's firing of roughly 16,000 probationary federal workers; employees will remain on paid administrative leave as a separate lawsuit moves through the courts (More) | Federal judge says White House can’t ban Associated Press from Oval Office, Air Force One (More

> Department of Homeland Security ends legal status for roughly 985,000 people who entered the US and registered for court appearances using a Biden-era CBP One app (More) | IRS reaches deal with Homeland Security to provide names, addresses of migrants subject to deportation orders (More)

> Ukrainian President Volodymyr Zelenskyy confirms Ukrainian forces operating in Russia's Belgorod region (More) | Two Chinese citizens captured while fighting alongside Russian soldiers, per Zelenskyy (More) | See war updates (More)

In partnership with SmartAsset

The Guide to Managing Market Volatility

 

Market volatility is an unavoidable reality, but for high-net-worth retirees, the stakes may be higher. And the first few months of 2025 have shown just how quickly volatility can erase months of market gains. Here's how affluent investors can navigate uncertainty and maintain financial security in retirement.

 

A wealth manager could help serve as both a strategist and safeguard, helping ensure your financial legacy remains intact despite potential market fluctuations. Try SmartAsset's no-cost tool to get matched with vetted fiduciary wealth managers serving your area. Take the free matching quiz.

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Etcetera
 

What is your state's median household income?

 

Delaware tops list of best states for working from home.

 

People on average have over 1,000 unread emails.

 

The earliest known mention of time travel. (via YouTube)

 

Record number of sandhill cranes flock to Nebraska. (w/photo)

 

... and an Oklahoma boy imitates 50 different bird calls.

 

A 30-second test reveals how well you're aging.

 

The perfect cup of coffee, according to science.

 

Clickbait: Adult men trading cards.

 

Historybook: Gen. Robert E. Lee surrenders to Gen. Ulysses S. Grant, effectively ending the Civil War (1865); Actor and activist Paul Robeson born (1898); Architect Frank Lloyd Wright dies (1959); Golfer and LPGA cofounder Marilynn Smith dies (2019).

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- Frank Lloyd Wright

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*Disclosure: "Journal of Retirement Study Winter" (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study.

 

**Please read the offering circular at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A Offering. A reservation of the ticker symbol is not a guarantee that we will be listed on the NASDAQ. Any IPO timing is unknown, general steps to be accepted have not been undertaken at this point, and that listing is not guaranteed.

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