CBS Evening News CBS Evening News, 04/02/25
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Apr 2, 2025 Nancy Cordes, a seasoned White House correspondent, discusses the implications of President Trump's tariff announcement. With tariffs hitting a staggering 10%, markets worldwide brace for impact, including potential European retaliation and shifts in Asian trade alliances. Cordes highlights the anticipated rise in U.S. consumer prices and the historical significance of current trade tensions, marking a pivotal moment that consumers and importers will feel for years to come.
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Trump's Liberation Day Tariffs
- President Trump expanded tariffs, impacting global markets and potentially increasing consumer costs.
- This action, termed "Liberation Day," aims to address perceived unfair trade practices.
Border Rush in Laredo
- Companies rushed goods from Mexico to avoid tariffs, creating border delays in Laredo, Texas.
- Importers expressed concerns over increased costs and uncertainty surrounding the trade situation.
Global Reactions to Tariffs
- European Union considered retaliatory tariffs against U.S. products.
- Asian countries explored increased trade with China amidst U.S. tariff threats.