Friday, April 11th, 2025 - Tariff & Market updates; Apple airlifts iPhones; Insider trading probe; SAVE Act; NYC Helicopter crash & more

Morning Announcements

Betches

News Commentary, Daily News, News, Politics

4.8 • 1.4K Ratings

🗓️ 11 April 2025

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s Headlines: The stock market fell sharply Thursday, erasing gains from Wednesday’s rally, after the White House clarified Trump’s China tariffs are effectively 145%, not 125%, and will now include small consumer shipments under the “de minimis” rule—impacting retailers like Shein and Temu. Apple reportedly airlifted 600 tons of iPhones from India to beat the tariffs. Amid the chaos, Democratic senators called for an insider trading investigation following unusually well-timed trades before Trump’s tariff pause announcement. Meanwhile, the House passed the SAVE Act, requiring proof of citizenship to vote in federal elections, and Trump’s budget bill, which includes deep spending cuts and $4.5 trillion in tax breaks for the wealthy. The Supreme Court ordered the Trump administration to help return a Maryland man mistakenly deported to El Salvador, despite unsupported claims he was an MS-13 member. The administration is also moving to place Columbia University under a federal consent decree over antisemitism. Elsewhere, a helicopter crash in the Hudson killed six people, two planes clipped wings at Reagan National Airport, and the Senate confirmed Trump donor George Glass as ambassador to Japan. Resources/Articles mentioned in this episode: CNBC: Dow tumbles 1,000 points, wiping out a chunk of Wednesday’s historic rally: Live updates Axios: Temu and Shein packages face another Trump tariff hike Reuters: Apple airlifts 600 tons of iPhones from India 'to beat' Trump tariffs, sources say ABC News: Democratic senators call for probe into possible insider trading over Trump tariff reversal NBC News: House passes bill requiring proof of citizenship to vote in federal elections NY Times: House Passes G.O.P. Budget, Paving Way for Trump’s Tax and Spending Cuts AP News: Supreme Court says Trump administration must facilitate return of Maryland man mistakenly deported to El Salvador WSJ: Trump Administration Wants to Install Federal Oversight of Columbia University WSJ: Six Dead in Helicopter Crash in Hudson River Near New York City NBC News: Plane with at least 6 House members clipped by aircraft on taxiway at Reagan National Airport near D.C. NHK: George Glass confirmed as US ambassador to Japan Morning Announcements is produced by Sami Sage alongside Bridget Schwartz and edited by Grace Hernandez-Johnson Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:00.0	Hello, U-Up listeners.
0:02.0	It's been a while since we've met in person, and we were thinking maybe it's time we set up another date.
0:08.2	We're so excited that we're going to be hosting a very special U-Up live event in New York City on April 30th at the Palladium Times Square.
0:17.8	Expect the games you love, spicy dating reveals, and even a live dating app
0:22.5	Maygover. But this time with you in the audience. Rally your friends, bring your craziest dating
0:28.6	stories, and join Jared and I live for a night of laughs that you won't want to miss.
0:33.8	Tickets are on sale now, so visit betches.co slash you up live to get yours before they're gone.
0:42.0	Today is Friday, April 11th, and you're listening to the morning announcements presented by
0:46.7	Betches Media. I'm your host, Sammy Sage, and the morning announcements is your daily five-minute
0:51.3	breakdown of the headlines that isn't a megaphone for the loudest
0:54.3	voices, but a magnifying glass for the most important news.
1:00.7	The stock market had another no-good, very bad day yesterday, wiping out much of the gains from
1:06.6	Wednesday's significant rally. Although the market had been falling since it opened in the morning,
1:11.7	it fell even faster after the White House confirmed to CNBC that actually the tariff rate on
1:17.0	China isn't just 125% like President Trump truth socialed yesterday. It's 145% because there's an
1:24.5	additional 20% levied due to the fentanyl crisis, the administration says.
1:29.7	The administration is also closing something known as the de minimis loophole, which exempts imported
1:34.9	shipments valued at less than $800. But now those packages from China will be subject to a 120%
1:41.4	tariff, or $100 per parcel in May and $200 per parcel after June 1st.
1:47.5	This will affect smaller packages delivered to average consumers, including things from
1:51.7	Sheehan and Timu, which are typically covered under a de minimis exemption.
1:56.3	And then later in the afternoon, Trump said that he is not ruling out extending the 90-day
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