Marc Ross Daily | April 17
Marc Ross Daily is geopolitical business news + intelligence for senior executives + comms pros.
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Happy Thursday.
Here’s today’s Marc Ross Daily:
*** Globalization + Geopolitics ***
WSJ: WTO sees fall in trade flows, warns against spreading conflict
FT: Trump tariff war to slash North American exports by 13%, warns WTO
FT: Trump tariffs put Fed’s jobs and inflation goals at risk, Powell says
Powell warns of ‘challenging scenario’ for Fed as trade war rages: WSJ reports sees strong likelihood that consumers face higher prices while unemployment rises because of tariff increases.
Stocks slide deeper into the red after Fed chair’s ‘stagflation’ warning reignites tariff fears: Fortune reports tech selloff led the major indexes lower, while the Fed chair's warning on tariffs accelerated trade war fears.
Donald Trump’s gift to globalisation: Not since the crash of 2008 has free trade held the moral and intellectual high ground. Janan Ganesh
AI can’t predict the impact of tariffs—but it will try WSJ
Why it’s impossible for most small businesses to manufacture in the US: American companies that make everything from keychains to mattresses say Chinese manufacturing is superior, and tariffs won’t be enough to shift production to the United States. Wired
WSJ: Omnicom gives more cautious 2025 outlook as tariffs create uncertainty about ad spending
Trump’s tariffs could make your Chinese restaurant meals pricier: WP reports business owners worry they’ll be forced to pare down their offerings, raise their prices, and hinge their futures on increasingly razor-thin profit margins.
Temu and Shein slash US ad spending as trade war hits: FT reports Chinese retailers’ retreat threatens Big Tech advertising revenues.
Cheap consumer goods are the American dream, actually: Trump’s tariffs upend a nearly century-old bargain between politicians and US consumers. Bloomberg
Tariffs or not, now is the time to break your bad shopping habits: Sorry, fast-fashion lovers. WP
US consumers rushed to buy cars ahead of Trump’s auto tariffs: FT reports vehicle sales jump in March before implementation of steep levies.
The beauty salon recession indicator: Bloomberg reports hairdressers and aestheticians report clients are opting for less expensive services and stretching out the time between appointments—signs that US consumers are retrenching.
California to sue US government over 'self-destructive' Trump tariffs: Le Monde reports the case is the latest of more than a dozen lawsuits that California has filed against the Trump administration. Governor Gavin Newsom, until recently, has spent much of the last three months trying to avoid open conflict with Trump due to the need for federal assistance after the fires swept through Los Angeles in January.
Bloomberg: DeepSeek poses ‘profound’ security threat, US House panel claims
US House panel probes whether DeepSeek used restricted Nvidia chips: FT reports lawmakers say the Chinese AI group is a ‘profound threat’ to national security.
Washington takes aim at DeepSeek and its American chip supplier, Nvidia: NYT reports China’s success in artificial intelligence has the Trump administration and lawmakers weighing rules and investigations to slow Beijing’s progress in the industry.
Nvidia blindsided by Trump’s curbs in multibillion-dollar blow to China sales: FT reports the US chipmaker reveals $5.5bn impairment, while full hit to China revenues could surpass $10bn.
Nvidia is now the biggest US-China bargaining chip: WSJ reports the ban on sales of the H20 chips calls into question the company’s ability to continually beat Wall Street’s lofty expectations.
How China took over the world’s rare earths industry: China seized mines and built factories. Japan took note and invested in Australia. But the United States did little despite concerns about control of supplies. NYT
The mine is American. The minerals are China’s. A Brazilian rare earths mine backed by American investors illustrates China’s grip over the strategic minerals that underpin the modern economy. NYT
China tries to stoke domestic demand as tariffs hit. It won’t be easy. WP reports a surge in exports before US tariffs kicked in helped China’s economy grow at the start of the year — but a slowdown is expected as the trade war takes hold.
Chinese capital of pet toys faces harsh impact of the trade war: Le Monde reports twenty years ago, Shuitou, a factory town in Zhejiang, had to close its 1,000 leather tanneries due to excessive pollution. Gradually repurposed into a global hub for pet accessories, it now faces a new threat from US tariffs.
America is turning away China’s goods. Where will they go instead? South-East Asia is exposed to both Chinese import competition and American ire. Economist
Xi fights Trump’s tariffs with global charm offensive: WSJ reports the Chinese leader is seeking to win over trade partners caught between US tariffs and oversupply by his country.
Straits Times: Xi says China stands with South-east Asia to counter ‘unilateralism’, amid US tariffs
China's Xi promises to 'safeguard' Asia amid Trump tariffs: DW reports the Chinese president's diplomatic tour has included Vietnam, Cambodia, and Malaysia — all targeted by Trump's tariffs. Experts say Xi wants to establish Beijing as a more reliable partner amid growing uncertainty.
Trump touts 'big progress' in trade talks with Japan: Nikkei reports the US president personally attends tariff-reduction negotiations with Akazawa.
Bloomberg: Trump says ‘big progress’ made in Japan talks on tariff deal
Straits Times: Singapore will help shape a more stable, resilient and inclusive global environment: PM Wong
PM Wong on relations with big powers, US tariffs and the future of the greenback Straits Times
White House expects UK trade deal ‘within three weeks’: Britain is in a good position for a fast agreement because it imports more goods from the US than it exports. Telegraph
Aligning with EU on emissions may drag UK into stand-off with Trump: The Times reports Sir Keir Starmer will host an EU-UK summit next month as he seeks to ease trade barriers with Brussels, but experts say it could provoke the US president.
The West as we knew it is dead, warns Ursula von der Leyen: The Times reports the EU chief highlighted splintering ties with the US as she praised Europe’s predictability in the face of President Trump’s tariff chaos.
As Trump tariffs loom, EU and CPTPP eye closer ties: Nikkei reports Brussels moves to promote free trade, though entry into Pacific trade bloc unlikely.
How Trump's trade war upends Germany's economic model: After Donald Trump unveiled his controversial list of countries targeted by steep punitive tariffs, the rules-based global trade order has been fundamentally shaken, with Germany scrambling to find its way. DW
Reuters: Italy's new high-speed rail line looks to reverse depopulation, lift southern economy
Chinese mafia groups in bloody turf war on streets of Rome: A battle for control of sweatshops in the Tuscan city of Prato has spread to the capital, where an alleged mob extortionist and his partner were shot dead. The Times
Kim’s forces ready to fight for Putin on Ukrainian soil: The Times reports as North Korea prepares to put boots on the ground in Ukraine, the Kremlin’s reliance on the hermit regime has become clear.
Zelensky says Ukraine and US are nearing a deal on strategic minerals: Le Monde reports Ukrainian President Volodymyr Zelensky says talks with Washington on a long-delayed minerals agreement are making 'good progress,' with a deal potentially days away.
Legal definition of a woman refers to ‘biological sex’, UK Supreme Court rules: FT reports the unanimous decision by judges is a blow for transgender rights campaigners.
What is a woman? Britain’s Supreme Court gives its answer: Economist reports the terms “woman” and “sex” refer to “a biological woman and biological sex.”
Who will speak for Henry? The “high earner, not rich yet” is the most overlooked voter in British politics. Economist
Is Britain heading for a summer of discontent? With the Birmingham bin strike grabbing headlines around the world, The Times looks at other sectors that could take industrial action this year. The Times
CNBC: Scale AI working with Qatar to develop AI agents for education, health care and transportation
Maryland senator unable to secure meeting with deported immigrant in El Salvador: NYT reports Senator Chris Van Hollen, a Democrat, said he had not yet been allowed to see Kilmar Armando Abrego Garcia, a Salvadoran immigrant who was mistakenly deported by the Trump administration and imprisoned.
El Salvador plans to double the size of giant prison holding US deportees: WSJ reports President Nayib Bukele told DHS Secretary Kristi Noem he plans to expand the sprawling prison compound known as Cecot when she visited last month.
More BC booze in Ontario? Doug Ford unveils legislation to boost trade within Canada to fight Donald Trump’s tariffs: Toronto Star reports it would remove a number of blockages, such as restrictions that prevent Ontario wineries from selling directly to consumers in British Columbia and vice-versa, in a bid to increase competitiveness and reduce costs.
A plea from a member of the ‘51st state’: Americans don’t understand the threat Canadians face right now. Tom Green
“Canadians—40 million Canadians—are at a fever pitch right now. They’re willing to sacrifice. They’re patriotic, like patriotism I’ve never seen. We always say how Canadians are so polite. Well, they’re at a fever pitch right now and willing to do anything and sacrifice anything to protect their sovereignty.” --Ontario Premier Doug Ford, in a conversation with David Frum.
To keep Canadians coming, Palm Springs hangs love letters in its streets: WP reports that despite recent tensions between the U.S. and Canada, Palm Springs, California, hung banners with a heart-shaped Canadian flag to reassure tourists that they’re welcome.
US Army engineers decide to fast-track Great Lakes tunnel permits under Trump energy emergency order: Toronto Star reports the pipeline runs through Wisconsin and Michigan before terminating in Sarnia, Ontario.
*** US Politics + Elections ***
I have never been more afraid for my country’s future Thomas L. Friedman
It’s time to protect America from America’s president Nicholas Kristof
Donald Trump’s approval rating is dropping: He is beating his own record for rapidly annoying American voters. Economist
How Trump and his ‘gold guy’ are redecorating the White House: The president is making the world’s most famous residence more like Mar-a-Lago, his gilded Florida club. WSJ
Internal budget document reveals extent of Trump’s proposed health cuts: WP reports HHS would be asked to absorb a $40 billion cut, about one-third of its discretionary budget.
Kennedy calls autism ‘preventable,’ drawing ire from researchers: NYT reports the health secretary said he would prioritize studies into environmental causes while harshly discounting other factors scientists say are likely contributing to rising rates of the condition.
Trump administration asks IRS to revoke Harvard’s tax-exempt status: WP reports the directive is a significant escalation of President Donald Trump’s feud with the university and other Ivy League institutions and other nonprofit groups the White House views as “woke.”
Can Donald Trump tame Harvard? FT reports that the assault on America’s most venerable university is at the centre of the White House’s culture war.
Federal judge calls Trump's order targeting prominent law firm a 'shocking abuse of power': NBC News reports that Trump, three months into his term, has moved swiftly to use the powers of the presidency in unprecedented ways to punish, weaken, and silence his enemies, experts say.
NYT: Judges challenge White House over disregard for court orders
Former Trump official targeted with government probe vows to fight: WSJ reports Chris Krebs, the top cybersecurity official in Trump’s first term, resigned from his private-sector job.
WP: Hegseth suspends 3 senior political aides amid leak inquiry
Axios: Trump dashed Musk's secret Pentagon briefing on China
+ "What the f**k is Elon doing there? Make sure he doesn't go," Trump said, a top official recalled to Axios.
Musk’s team is building a system to sell ‘gold card’ immigrant visas: NYT reports the project represents something of a shift in mission for Elon Musk’s initiative, from cutting government costs toward a new goal of generating revenue.
Trump administration halts Equinor’s $5bn New York energy project: FT reports the move to pause offshore wind plan is latest in White House’s campaign to dismantle Joe Biden’s cleantech strategy.
Trump’s DC US attorney pick appeared on Russian state media over 150 times: WP reports nominee Ed Martin did not initially disclose his RT and Sputnik appearances from 2016 to 2024 to the Senate. The State Department has said the networks act like arms of Russian intelligence.
Bloomberg: DeepSeek poses ‘profound’ security threat, US House panel claims
Inside the changing White House briefing room NYT
White House shakes up press pool in apparent nod to court ruling: Politico reports reporters from the three leading wire service organizations will no longer share a rotating spot in the White House press pool.
White House restricts wire services' access to Trump: FC reports the plans, the latest attempt by the Trump administration to control coverage of its activities, sharply curtail the access of three news agencies that serve billions of readers around the world.
DNC leader announces plans to primary members of his own party: WP reports David Hogg, the first member of Gen Z to serve as vice chair of the Democratic National Committee, is putting millions toward an effort to challenge incumbent House Democrats.
Sanders and Ocasio-Cortez electrify Democrats who want to fight Trump: NYT reports Bernie Sanders and his apparent heir, Alexandria Ocasio-Cortez, have drawn enormous crowds on their “Fighting Oligarchy” tour, energizing a beaten-down Democratic Party.
Ro Khanna is everywhere — and he would like your attention: WP reports leaving little doubt that he is laying the groundwork for a White House run in 2028, the Silicon Valley congressman has been organizing his own rallies to rev up Democrats.
George Clooney: It was my duty to tell the truth about Joe Biden: The Times reports the actor admits his call for the Democratic president to drop out of the 2024 election split his party.
NY-GOV: Rep. Elise Stefanik (R) is considering a run for New York governor.
*** Distribution + Innovation ***
Webb telescope detects a possible signature of life on a distant world: WP reports a molecule detected on a planet 124 light-years away is produced on Earth by decaying phytoplankton and other microbes. There is no other known source.
Exoplanet K2-18b: Alien ocean world may be ‘teeming with life’: The Times reports there is a 99.7 per cent certainty that the hycean planet has at least one gas in its atmosphere that, on Earth, is produced by living things.
Astronomers detect a possible signature of life on a distant planet: NYT reports that further studies are needed to determine whether K2-18b, which orbits a star 120 light-years away, is inhabited, or even habitable.
FC: Tesla's first quarter EV registrations slump 15.1% in California
OpenAI’s Sam Altman talks ChatGPT, AI agents, and superintelligence TED2025
Fortune: OpenAI debuts new ‘reasoning’ models and coding agent as it seeks to stay at the front of the AI pack
OpenAI’s new GPT 4.1 models excel at coding: GPT 4.1, GPT 4.1 Mini, and GPT 4.1 Nano are all available now—and will help OpenAI compete with Google and Anthropic. Wired
Bloomberg: Perplexity in talks to integrate assistant into Samsung, Motorola phones
Bloomberg: OpenAI in talks to buy Windsurf for about $3 billion
An AI is going to art school — and might earn a diploma. Meet Flynn. Two students in Vienna, Austria, created a program that talks in class and turns in artwork for assignments, to test the boundaries of artificial intelligence tools. WP
B2AI is the new B2B: Why companies need to start designing products for AI agents: Businesses will need new strategies in a world where AIs chat amongst themselves, says a report from Visa and the Institute for the Future. FC
What Silicon Valley knew about tech-bro paternalism: The show anticipated what can happen when masculine entitlement and artificial intelligence meet. Megan Garber
Tokyo is reinventing the downtown—by making more than one: How Tokyo is inventing the “urban knowledge campus” by creating aa mosaic of distinct downtown districts. FC
Paris air pollution is down 50% after its radical bike-friendly transformation: FC reports cars have been banned from more than 100 streets. Tens of thousands of parking spots have been eliminated. Hundreds of miles of bike lanes have been added. And air pollution is plummeting.
*** Culture ***
How LinkedIn self-promotion became your boss’s favourite waste of time: The platform intended to make workers more productive has become a hive of humble-bragging influencers. Telegraph
Mario Vargas Llosa — endlessly versatile giant of Latin American literature: Ingenious, elegant, and inventive, the Nobel Prize-winning writer was a virtuoso storyteller of private passions and power misused. FT
NY Mag: Of course Fyre Fest 2 has been postponed
LeBron James, ASAP Rocky, and everything you need to know about the 2025 Met Gala: The co-hosts! The ticket prices! The dress code! A guide to the party of the year. NYT
*** Sport ***
DC, Commanders close to a stadium deal at RFK site: WP reports the potential agreement comes after months of talks between the administration of DC Mayor Muriel E. Bowser (D) and the team.
UEFA Champions League semi-finals:
PSG v Arsenal
Barcelona v Inter
Italy's controversial Olympic bobsled track: Italy will host the Winter Olympic Games in early 2026. Cortina d'Ampezzo, a prestigious ski resort, has become a major construction site. Critics say a planned bobsled track in the complex costs too much and will harm the environment. DW
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Marc Ross Daily | April 17
