⌨China retaliated against Trump's "Liberation Day" tariffs with a 34% levy on all U.S. imports starting April 10, triggering a catastrophic market collapse. The Dow plunged over 2,200 points, with global markets losing $6.4 trillion in two days - the worst crash since 2020.
Federal Reserve Chair Powell warned that Trump's tariffs will significantly increase inflation, while JPMorgan raised recession odds to 60%. Despite the economic turmoil, the March jobs report showed stronger-than-expected growth with 228,000 new positions.
Trump remained defiant throughout the day, declaring "only the weak will fail" and suggesting it could take two years for manufacturing to return to the U.S. Vietnam reportedly offered to eliminate tariffs on U.S. goods.
In separate developments, Gen. Timothy Haugh, director of both the NSA and U.S. Cyber Command, was fired along with his deputy, reportedly following a meeting with far-right activist Laura Loomer.