ABC 10News wants you to start your day on the right foot with our updated microclimate weather forecasts, the latest news from overnight and this morning, and more to help get you out the door informed and ready to go.
Here's what you need to know in the Friday, April 4, 2025, edition of the 10News Wake Up Call newsletter.
TODAY'S TOP STORY:
President Trump is brushing off concerns over his new set of tariffs, even as the U.S. stock market deals with the biggest single day drop in years.
This week, the president unveiled a list of countries hit by reciprocal tariffs, which range from 10% to 59%. Click here for the list: https://www.10news.com/politics/president-trumps-first-100-days/read-the-full-list-of-countries-facing-trumps-reciprocal-tariffs
Now, multiple countries are announcing their retaliatory measures.
On Friday morning, China said it would impose a 34% tariff on U.S. imports starting April 10. President Trump did not immediately respond to China’s decision.
As the tariffs kick in, the president said more could be coming on imported semiconductors and pharmaceuticals.
The escalating trade war has the U.S. stock market in a near freefall; it lost more than $3 trillion in value on Thursday.
Some of the nation’s largest companies have taken a hit, along with millions of Americans’ 401(k) accounts.
JPMorgan now said there is a 60% chance of an economic recession.
According to the nonpartisan Tax Foundation, the new tariffs will cost the average American household $2,100 per year.
More on Trump's tariffs:
- USD economist predicts which products will increase first under tariffs
- How new tariffs could drive higher prices for Americans
- New car prices are already soaring and tariffs could make them go higher
- Canada responds to Trump tariffs with 25% levy on U.S. auto exports
- Trump announces baseline 10% tariff on imports for all U.S. trade partners
MICROCLIMATE FORECASTS:
Coasts
Inland
Mountains
Deserts
BREAKING OVERNIGHT:
(AP) — China announced Friday that it will impose a 34% tariff on imports of all U.S. products beginning April 10, part of a flurry of retaliatory measures following U.S. President Donald Trump’s “Liberation Day” slate of double-digit tariffs.
The new tariff matches the rate of the U.S. “reciprocal” tariff of 34% on Chinese exports Trump ordered this week.
The Commerce Ministry in Beijing also said in a notice that it will impose more export controls on rare earths, which are materials used in high-tech products such as computer chips and electric vehicle batteries.
Included in the list of minerals subject to controls was samarium and its compounds, which are used in aerospace manufacturing and the defense sector. Another element called gadolinium is used in MRI scans.
China’s customs administration said it had suspended imports of chicken from two U.S. suppliers, Mountaire Farms of Delaware and Coastal Processing. It said Chinese customs had repeatedly detected furazolidone, a drug banned in China, in shipments from those companies.
Additionally, the Chinese government said it has added 27 firms to lists of companies subject to trade sanctions or export controls.
Among them, 16 are subject to a ban on the export of “dual-use” goods. High Point Aerotechnologies, a defense tech company, and Universal Logistics Holding, a publicly traded transportation and logistics company, were among those listed.
Beijing also announced it filed a lawsuit with the World Trade Organization over the tariffs issue.
CONSUMER:
(SCRIPPS NEWS GROUP) -- The clock is ticking for TikTok as a bipartisan law is poised to ban the popular app over national security concerns, unless its Chinese parent company, ByteDance, sells the platform by April 5.
The White House has announced that it is actively working on a deal to keep TikTok available in U.S. app stores. Under the new U.S. law, ByteDance is required to divest at least 80% ownership of TikTok to a non-Chinese entity.
Amazon, mobile tech company Applovin, and tech giant Oracle have all made bids to buy the app.
Read the full story: https://www.10news.com/science-and-tech/social-media/saturday-deadline-tiktok-faces-us-ban-unless-bytedance-sells-majority-stake
WE FOLLOW THROUGH:
As Russian forces continue to attack Ukraine, the U.S. is pressing forward with its efforts to negotiate peace in the region.
Meanwhile, Iuliia Puchko -- who grew up in eastern Ukraine but now resides in San Diego -- recently returned from a two-month journey to Ukraine’s battle zones.
Reporter Madison Weil follows through on Iuliia’s experiences providing aid to frontline soldiers in need:
Thanks for waking up with us! If you have a story you want ABC 10News to follow through on, fill out the form below:
