Wednesday, April 9th, 2025 - Trade war hits housing; Musk-Navarro drama; DHS pulls legal status; Trump’s SCOTUS win

Today’s Headlines: Trump’s new tariffs officially went into effect at midnight, sending global markets into a tailspin and pushing U.S. mortgage rates to nearly 7%. Despite White House claims that “tailored deals” are on the way, no countries—including China, which now faces a 104% tariff—secured any agreements before the deadline. Canada also retaliated with a 25% tariff on U.S.-made vehicles. Amidst the economic mess, Elon Musk lashed out at Trump’s trade advisor Peter Navarro, calling him “dumber than bricks,” while the White House responded with a baffling “boys will be boys.” On immigration, the administration announced it would revoke legal status from over 900,000 migrants who used the Biden-era CBP One app to enter the U.S. legally, urging them to voluntarily self-deport. Meanwhile, the IRS is now handing over undocumented taxpayers’ personal info to ICE, sparking fears of a drop in compliance that could cost the U.S. billions. And finally, the Supreme Court ruled that a lower court’s order to reinstate 16,000 fired federal workers can’t move forward—though many will remain on paid leave due to a separate case while a federal judge ruled in favor of the Associated Press after the White House tried to bar them from events for refusing to rename the Gulf of Mexico in their reporting. Resources/Articles mentioned in this episode: CNBC: Trump trade fight: Customs starts collecting new tariffs on imports from 86 countries at midnight Axios: Elon Musk calls Peter Navarro "moron" as trade spat intensifies Axios: IRS agrees to share immigrants' data with ICE Axios: IRS sharing immigrants' data threatens billions in tax revenue AP News: Trump's DHS revokes legal status for migrants who entered the US on Biden-era CBP One app AP News: Supreme Court blocks order requiring Trump administration to reinstate thousands of federal workers Axios: Judge sides with AP over White House ban for press coverage 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