CNN 5 Things
Even higher China tariffs, House approves budget blueprint, LeBron goes plastic & more
Apr 10, 2025
The global trade war escalates as stocks tumble under new China tariffs. A significant move in the House supports Trump’s budget, stirring political debates. Tragedy strikes with a rising death toll in a Dominican nightclub disaster. On a lighter note, LeBron James enters the Barbie universe as a collectible Ken doll, proving that cultural moments can spark joy amid serious news.
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Quick takeaways
- The U.S. has imposed tariffs on Chinese goods as high as 145%, significantly impacting stock markets and household costs.
- The House approved a budget blueprint that supports President Trump's agenda while assuring that key social programs remain protected.
Deep dives
Impact of Tariffs on the Economy
Recent tariffs imposed by the U.S. government on Chinese goods have reached levels as high as 145%, contributing to significant stock market declines. The Dow Jones Industrial Average plummeted over 2,000 points, or approximately 5%, following announcements regarding these tariffs. In response to U.S. measures, China enacted its own retaliatory tariffs at 84%, further exacerbating tensions between the two economic giants. Former Treasury Secretary Janet Yellen highlighted that these tariffs are likely to increase costs for American households, indicating a potential negative impact on the overall economy.
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