Richard Branson: Reverse ‘colossal mistake’ of tariffs or face ‘ruin’
Billionaire Richard Branson is warning that the U.S. “will face ruin for years to come” if the Trump administration does not immediately “change course” on its tariff policies.
“The US government can still turn things around, but it must act in the next few hours,” the Virgin Group co-founder wrote on X.
“This is the moment to own up to a colossal mistake and change course. Otherwise, America will face ruin for years to come,” he wrote.
— Kevin Breuninger
‘Fake news’: White House dismisses report of Trump considering 90-day pause
The White House dismissed a wire headline that said Trump is considering pausing new tariffs for 90 days.
“Fake news,” White House Press Secretary Karoline Leavitt told CNBC’s Eamon Javers after a headline that cited Kevin Hassett, the director of the National Economic Council.
Trump himself posted on social media a video of Fox Business host Maria Bartiromo saying, “Rates are plummeting, oil prices are plummeting, deregulation is happening.”
“President Trump is not going to bend,” Bartiromo said in the video.
– Dan Mangan
Trump: ‘Not sustainable’ for U.S. to lose $1.9 trillion on trade
Trump writes that it’s “not sustainable” for the U.S. to “lose $1.9 trillion on trade” in a post just now on Truth Social.
Trump’s post includes a video of him talking to reporters, in which he also says that the U.S. can’t lose money on trade “and also spend a lot of money on NATO in order to protect European nations.”
— Erin Doherty
Tesla shares are down 20% since Lutnick urged ‘Buy Tesla’
Tesla shares are trading around 20% lower than they were when Lutnick urged people to “Buy Tesla” last month.
Lutnick touted Tesla, whose CEO is the Trump administration DOGE chief Elon Musk, in a March 19 interview on Fox News.
“It’s unbelievable that this guy’s stock is so cheap,” Lutnick said. “It’ll never be this cheap again.”
As it turns out, it would be.
— Dan Mangan
Canada initiates WTO dispute over auto tariffs
Canada filed a dispute with the the World Trade Organization concerning Trump’s 25% tariffs on automobiles and automobile parts imported from Canada into the U.S.
Canada requested WTO dispute consultations with the U.S. concerning the new levies, the global trade organization said. The WTO says the request for consultations formally initiates a dispute in the organization.
Consultations will give the parties an opportunity to discuss the matter without proceeding further with litigation. After 60 days, if consultations have failed to resolve the dispute, the complainant may request adjudication by a panel, according to the WTO.
Canada claims the measures are inconsistent with the U.S.′ obligations under various provisions of the “General Agreement on Tariffs and Trade” of 1994.
— Michael Wayland
