CBS Evening News
CBS Evening News, 04/10/25
Apr 10, 2025
Financial markets are feeling the pinch from escalating trade tensions between the U.S. and China, raising concerns for small businesses. A tragic helicopter crash in the Hudson River claims the lives of all six aboard. In a landmark ruling, a New York jury awards $1.68 billion to women who accused filmmaker James Toback of abuse over decades. Plus, a touching story of resilience in sports juxtaposes personal triumph with the ongoing debate over the Gulf of Mexico's name.
26:40
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Quick takeaways
- The escalating trade war has severely impacted small businesses like Sarah Wells' bag design company, forcing unsustainable financial decisions amidst tariff-induced chaos.
- Funding cuts to USAID have compromised Uganda's Ebola response capabilities, highlighting the urgent need for global health cooperation to prevent outbreaks.
Deep dives
Impact of Tariffs on Small Businesses
The new tariffs imposed during the trade war, particularly those targeting China, are significantly affecting small businesses that rely on imported goods. Many businesses, like a bag design company owned by Sarah Wells, face unsustainable costs due to increased tariffs, leading to difficult financial choices such as layoffs or halting orders altogether. For instance, Wells had to unexpectedly pay over $15,000 to release goods from port due to initial tariff increases, and she now struggles with a 145% tariff, which she describes as nearly insurmountable. The uncertainty around tariff adjustments has paralyzed operations and could create long-term inventory issues even if tariffs are lifted in the near future.
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