Good morning. We’re covering Trump’s new global tariffs and Israel’s expanding military offensive in Gaza. Plus, David Hockney’s blockbuster show.
Trump announced sweeping global tariffsPresident Trump unveiled yesterday his most expansive tariffs to date, hitting all of the U.S. trading partners except Canada and Mexico with a 10 percent tariffs. Europe and China will face much higher rates. At a ceremony at the White House, Trump called the announcement “our declaration of economic independence.” He added, “This is liberation day.” Trump said the U.S. would calculate a tariff rate for countries based on the levies they impose and “other forms of cheating.” These tariff rates are quite high. China will face a staggering 34 percent tariff, while the E.U. will get 20 percent. Japan will be 24 percent and India 26 percent. Trump has argued that tariffs will rebalance a global economy after years of countries “ripping off” the U.S. Governments across the world have been preparing to hit back, increasing the potential for a destabilizing trade war. We have live updates here. “Many people had been expecting the president to announce high tariffs today, but the numbers that he just revealed are stunning,” said my colleague Ana Swanson, who covers international trade. The tariffs, she added, “will likely force some manufacturing back into the United States, but also raise costs for American consumers and manufacturers and incite trade wars on many fronts.” Analysis: Trump’s advisers disagree on the goal of the sweeping tariffs. Is it to raise revenue or lower trade barriers?
Response: The Canadian and Chinese governments have already retaliated against Trump’s previous tariffs with taxes of their own. E.U. officials are weighing potentially targeting American tech and financial giants, a response that some refer to as a “bazooka.” Race to port: Companies rushed to import goods to the U.S. ahead of the tariffs.
Israel expanded its offensive in GazaPrime Minister Benjamin Netanyahu said yesterday that Israel is seizing territory in the Gaza Strip hours after his government laid out plans to occupy large parts of the enclave. Holding territory, Netanyahu said, was meant to push Hamas to return at least 59 remaining hostages captured in the Oct. 7, 2023, attacks. “The pressure will increase until they hand them over,” he said. The Israeli military appears to be planning to station forces in captured territory. The defense minister said newly captured areas would be “added to the security zones” that the military currently maintains in Gaza. One family’s story: Huda Abu Teir returned home to Gaza during the cease-fire last month, hoping to rebuild. She was killed along with eight others when Israel shattered the cease-fire and destroyed their home. Aid: The closure of 25 bakeries run by the U.N. across Gaza will deprive Palestinians of a source of reliable food.
Anger at Elon Musk put Tesla in a slumpTesla said yesterday that its global sales in the first quarter of 2025 fell 13 percent from a year earlier. Even in Norway, where electric vehicles account for more than 90 percent of new car purchases, sales dropped sharply. The change partly reflects consumers’ anger at Elon Musk for his right-wing politics and prominent role in the Trump administration. But there are other explanations, including that other E.V. makers are catching up to Tesla’s technology and offering a wider range of vehicles.
Sports
After a lifetime of loving Shanghai in spite of its pollution, noise and mess, one longtime visitor recently returned to find a changed city after the pandemic, with bluer skies and quieter, cleaner streets. But some changes, like the near-total transition to app-based life, for everything from payments to transportation, can make it tough for travelers. Here are some tips. Lives lived: Val Kilmer, a Hollywood film star who played Jim Morrison and Batman, died at 65. Here’s seven of his best films.
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