🗞️California sues Trump

April 16th, 2025

What happened today 🇺🇸,

• California governor, Gavin Newsom, said the state of California will sue President Trump to get the tariffs halted…California will be the first state to challenge the tariffs

• As the feud continues, the Trump administration has asked the IRS to revoke Harvard University’s tax-exempt status

• President Trump, Treasury Secretary Bessent, and U.S. trade representative Jamieson Greer met to negotiate trade and tariffs with Japanese officials at the White House

• U.S officials plan to use trade negotiations with more than 70 nations to isolate China’s economy by asking them to disallow China to ship goods through their countries and prevent Chinese firms from being located in their territories to avoid U.S. tariffs and get overall better trade deals

• Senator Josh Hawley (R-MO) has said he will be reintroducing a bill to ban stock trading by members of Congress

• The White House says China now faces tariffs of up to 245% on imports to the U.S., up from 145%, “as a result of retaliatory actions”

• Senator Chris Van Hollen (D-MD) flew to El Salvador today to push for the release of Kilmar Abrego Garcia, the mistakenly deported man, Van Hollen was denied a meeting or phone call with Garcia, but spoke with the VP of El Salvador

• Zoom, the cloud-based video conferencing platform, was down today and experienced major outages that prevented people from connecting to their video calls or even getting onto the website

• Twitter/X reportedly plans to get rid of DMs in favor of a new messenger called 'XChat' which would include features like file sharing, encrypted messages, edit/delete messages, and voice messages

• Gold price hit $3,350/oz for the first time in history

• DOW down 1.73% / S&P down 2.24%

• The UK Supreme Court has ruled that the legal definition of “woman” does not include trans women, this ruling will impact how equality laws are applied

Bonus: A look at which global industries create the most billionaires

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Quote of the day: “The two most powerful warriors are patience and time.” – Leo Tolstoy

Have a great night!

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