MORNING HEADLINES | After President Donald Trump announced a 10% baseline tariff on imported goods plus other measures Wednesday, global markets started a sharp decline today that has investors chewing fingernails. Overnight, futures on the S&P 500 slid 3%, signaling a tough day ahead on Wall Street.
Experts are warning of a risk of recession. The scale of the tariffs surprised some, with one strategist telling The New York Times, “The numbers are shockingly high compared to what people were expecting and it is inexplicable in many ways. I think it’s a disaster.”
Trump’s announcement includes a 34% tariff on Chinese imports that was on top of a 20% tariff imposed earlier plus 20% on goods from the European Union and 24% on Japanese products.
U.S. trading partners reacted angrily Wednesday to Trump’s announcement of punishing new tariffs on international goods. They promised retaliation. “If you take on one of us, you take on all of us,” European Commission President Ursula von der Leyen said.
Some critics pointed to a slipshod quality of the White House announcement as it included tariffs on islands with no people – just penguins and polar bears.
In other headlines:
CP NEWS, Bridge Run stories: Annual race generates wellness plus lifetime of memories. While most “get over” the bridge and finish the race, many treasure the experience of running with waves of people headed to complete a common goal. And that, in turn, inspires stories, tens of thousands a year. Here are some of them.
CP ARTS: Ranky Tanky to make triumphant return Friday to Charleston Music Hall. When the now-famous jazz and soul band Ranky Tanky takes the stage at Charleston Music Hall Friday night, the April 4 performance will carry special significance, according to vocalist and horn player Charlton Singleton.
SC-1: Feds drop case against man accused of assaulting Mace. The U.S. Attorney’s Office in Washington, D.C., has dismissed charges against a man that U.S. Rep. Nancy Mace, R-S.C., accused of shaking her hand in an “aggressive” manner during a public event last year. Prosecutors had no comment on the dismissal, but in a statement, Mace said, “I will not back down. I will not be intimidated. And I sure as hell won’t stay silent.”
S.C. Senate to consider removing state treasurer Loftis. The S.C. Senate will hold a hearing on April 21 to begin determining the fate of state Treasurer Curtis Loftis, who was found by independent auditors to have been partially responsible for accounting errors that put the state in the middle of a federal fraud investigation. If fired, Loftis would be the first statewide elected official in S.C. history to be removed from office. Meanwhile, Loftis has confirmed he is running for reelection.
U.S. Supreme Court divided on S.C. push to ban Planned Parenthood funding. Justices appeared to be divided during Wednesday’s oral arguments over Gov. Henry McMaster’s long-running effort to cut off Medicaid funding to Planned Parenthood. At issue: Do Medicaid patients have the right to choose their own providers for medical services?
S.C. House votes to ban ‘illegal’ DEI. The GOP-controlled S.C. House voted along party lines Wednesday to ban “illegal” diversity, equity and inclusion programs in S.C. government. Supporters argued the last-minute addition of the word “illegal” means that legal diversity efforts can continue. Critics said it would still have a “chilling effect” on legitimate programs. Others say the impact is unclear.
Charleston blue jean display aims to raise awareness of sexual assault. A row of blue jeans in Charleston’s Medical District is designed to raise awareness of Denim Day during Sexual Assault Awareness Month. “We want to raise awareness … of the prevalence of sexual assault,” MUSC’s Emily Tilstra-Ferrell said.
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