The Bulletin
WORLD IN BRIEF
- Canada electricity tariffs: Should Ontario reinstate its 25 percent tariff on electricity exports to the U.S., President Trump plans to declare a "national emergency on electricity" in the three states affected. Find out which ones.
- Trump's approval rating compared to Biden: President Trump's approval rating is lower than Joe Biden's after his first 50 days in office. Trump's approval and disapproval ratings both currently stand at 48 percent, according to an average calculated by Newsweek. Get more information.
- Ukraine accepts US-proposed ceasefire: Ukraine said in joint statement with the U.S. on Tuesday that it is open to 30-day ceasefire with Russia, subject to the Kremlin's agreement. Find out more.
- US military's Syria mission unchanged: A U.S. defense official has told Newsweek that there has been no shift in the Pentagon's mission in Syria after America's Kurdish-led partner signed an agreement to join the country's Islamist government amid a wave of sectarian violence.
- Chicago O'Hare airport shooting: A man has been shot twice outside Chicago O'Hare International Airport, police said. More on the incident.
- Stock market performance: The U.S. stock market has been on a roller coaster since Trump returned to the White House, dropping precipitously over the last three weeks. That contrasts from his first term in office when U.S. indexes performed well in the early days of his administration. Here's how it compares.
EU Launches $28 Billion Retaliation to Trump Tariff War
The rundown: The European Union said it will impose retaliatory tariffs worth $28 billion on U.S. industrial and agricultural goods, following the Trump Administration's decision to raise tariffs on steel and aluminum imports to 25 percent. Find out more about this trade war.
Why it matters: The European Commission, which handles trade policy for the bloc's 27 member states, said the tariffs would extend beyond metals to cover U.S. goods such as leather products, plastics and household tools. Agricultural items including poultry, beef, seafood, nuts, sugar and vegetables will also be affected. Trump has defended his tariff policy, arguing that the duties would revitalize the American manufacturing sector and protect domestic jobs. However, European Commission President Ursula von der Leyen warned that the measures could harm economies on both sides of the Atlantic.
Read more in-depth coverage:
Canada Official Backs Down on Tariff Threat After Call With Trump Admin
TL/DR: The tariffs are expected to increase tensions between the two economic powers, which have faced ongoing trade disputes.
What happens now? The EU tariffs will take effect on April 1 and be fully implemented by mid-month. European steel producers have warned that the tariffs could have severe consequences. The European Commission has emphasized that it remains open to resolving the dispute through negotiations. However, with both sides escalating trade restrictions, businesses and consumers in both economies could face higher costs and increased uncertainty.
Deeper reading EU Launches $28 Billion Retaliation to Trump Tariff War
How To Prepare For a Recession in 2025
The rundown: President Trump's tariff plans have sent shock waves through the stock market, and raised fears that the U.S. could be on the cusp of a significant economic downturn. Newsweek spoke with experts on how people can shore up their finances in preparation for any coming fiscal challenges. See what they had to say here.
Why it matters: Certain closely monitored economic indicators suggest that markets and consumers are wary of America's near-term fiscal outlook. Last week's GDP forecast from the Federal Reserve Bank of Atlanta pointed to a contraction in annualized growth to -2.8 percent for the first quarter of 2025. While this has been viewed by some as an outlier caused by a surge in gold imports, the price of gold itself—a historic hedge against dollar devaluation and weak economic growth—has risen by nearly $300 since the start of the year (11 percent). As a result of these warning signals, as well as measured declines in consumer confidence, financial institutions have raised their predictions for a recession in the near future.
Read more in-depth coverage:
Chances of a Trump Recession Just Got a Lot Higher, Analysts Say
TL/DR: Experts shared insights on how to prepare for a potential recession, providing advice that rings true regardless of the country's future economic situation.
What happens now? Jason Schenker, author of Recession-Proof: How To Survive and Thrive in an Economic Downturn told Newsweek. "Cutting back on discretionary spending and reducing high-interest debt" are two critical strategies in preparing for a recession.
Deeper reading How To Prepare For a Recession in 2025
US House Approves Stopgap Government Funding Bill
The rundown: The House passed a bill Tuesday to prevent a partial government shutdown and fund federal agencies through September, giving the continuing resolution (CR) crucial momentum as it advances to the Senate, where bipartisan backing will be required for final approval. Here's everything you need to know.
Why it matters: In the Senate, at least eight Democratic votes will be needed to send the bill to President Trump's desk. The legislation marks a key test of Trump's second term, prompting Vice President JD Vance to visit Capitol Hill on Tuesday to rally support. Johnson pushed forward with the funding bill on Tuesday, daring Democrats to oppose it and risk a government shutdown set to begin Saturday if Congress fails to act. Democrats expressed concerns over the bill's broad discretion given to the Trump administration, particularly over spending cuts led by the Department of Government Efficiency, run by billionaire Trump adviser Elon Musk.
Read more in-depth coverage:
One Democrat Sides With Republicans to Push Trump-Backed Funding Bill
TL/DR: Republicans needed strong support from their members to advance the funding package, securing it in a narrow 217-213 vote.
What happens now? Democrats introduced an alternative bill funding the government through April 11, which could serve as a backup plan if the GOP-led measure fails. Both parties positioned themselves to blame the other if the bill collapses.
Deeper reading US House Approves Stopgap Government Funding Bill
Iran Confirms Nuclear Talks With China, Russia
The rundown: Iran will hold trilateral nuclear talks with China and Russia in Beijing this Friday after rebuking U.S. President Trump for his offer to Tehran. Here's what to know.
Why it matters: Esmail Baqaei, spokesperson for Iran's Ministry of Foreign Affairs, confirmed the meeting of deputy foreign ministers and said it would focus on "developments related to the nuclear issue and the lifting of sanctions". Trump had offered fresh nuclear talks with Iran in a letter to Supreme Leader Ali Khamenei last week. He scrapped the Obama-era Iran nuclear deal in his first term and reimposed the sanctions on Tehran it had lifted in exchange for monitoring its program. Khamenei rejected Trump's offer of talks on Sunday, though Iran's U.N. mission posted on X that discussions to address concerns "vis-à-vis any potential militarization of Iran's nuclear program...may be subject to consideration."
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Iran Tells Trump: "Do Whatever The Hell You Want"
TL/DR: Speaking in the Oval Office last Friday, Trump warned that "we have a situation with Iran that, something's going to happen very soon. Very, very soon."
What happens now? As Iran continues its nuclear advances and U.S. sanctions remain in place, diplomatic prospects appear limited. The standoff between the two nations is likely to persist unless one side shifts its approach to negotiations.
Deeper reading Iran Confirms Nuclear Talks With China, Russia After Rebuking Trump
US Hammers Ally Facing Off China in Pacific With Tariffs
The rundown: President Donald Trump on Wednesday pressed forward with blanket tariffs on steel and aluminum imports, including from Australia, in what Prime Minister Anthony Albanese characterized as "not the actions of a friendly nation." Learn more.
Why it matters: The move has fueled doubts in Australia, one of the U.S.'s closest allies in the Asia-Pacific, over Washington's reliability at a time when China is increasingly flexing its muscles in the region. China is often accused by U.S. allies of provocations in the South China Sea. Flights between Australia and New Zealand were paused when the People's Liberation Army Navy vessels conducted live-fire exercises in the Tasman Sea. These drills, which took place outside Australia's territorial waters but within its exclusive economic zone, signal China's growing presence in the Southwest Pacific. The exercises, revealed through a passenger jet's radio transmission, are seen as part of China's broader strategy to challenge U.S. influence in the Indo-Pacific.
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Map Shows Chinese Navy Encircling US Ally in New Show of Force
TL/DR: Canberra is also part of the American-led Quad "strategic alignment" of Indo-Pacific countries, which includes India and Japan. It also buys military kit from the U.S., a relationship China has a motive to upend.
What happens now? The Trump administration will have to back its Australian ally more forcefully. While not part of NATO, the country is a member of the trilateral security partnership AUKUS, along with the U.S. and United Kingdom. However, fears persist regarding potential shifts in U.S. policy under the Trump administration, especially toward authoritarian regimes like China's.
Deeper reading US Hammers Ally Facing Off China in Pacific With Tariffs
No Pain, No Gain? Trump Adopts New Zen-Like Approach to Stock Market Swings
In President Donald Trump's first term, he often defined his presidency by the stock market's performance, using it as a barometer of economic success. But as market volatility surges and investor concerns that the president's policies are careening the economy toward a recession this time around, Trump is adopting a new stance—one that emphasizes long-term resilience over immediate gains.
Last week, he told reporters he was "not even looking at the market," which would be a stark contrast to his first-term habit of taking credit for nearly every market spike.
