• Home
  • News
    • UP 200
    • Local
    • Lansing Bureau
    • Washington D.C. Bureau
    • National
    • Insights
    • Watch 19 News Live
    • CBS News Live
    • Report News
  • Weather
    • Forecast + Conditions
    • Current Alerts
    • Interactive Radar
    • Cameras
    • Share Photos/Videos
    • Closings and Delays
  • Sports
  • Features
    • Life in the 906
    • The Yooper Goddess
WZMQ 19 News | CBS | MeTV Marquette
Haze

Marquette
Haze 66°

Fog/Mist

Escanaba
Fog/Mist 52°

Clear

Houghton
Clear 57°

Clear

Iron Mountain
Clear 53°

Watch
No Result
View All Result
  • Home
  • News
    • UP 200
    • Local
    • Lansing Bureau
    • Washington D.C. Bureau
    • National
    • Insights
    • Watch 19 News Live
    • CBS News Live
    • Report News
  • Weather
    • Forecast + Conditions
    • Current Alerts
    • Interactive Radar
    • Cameras
    • Share Photos/Videos
    • Closings and Delays
  • Sports
  • Features
    • Life in the 906
    • The Yooper Goddess
WZMQ 19 News | CBS | MeTV Marquette
No Result
View All Result
WZMQ 19 News | CBS | MeTV Marquette
No Result
View All Result

3 Weather Alerts

View Details »

Stocks Tumble Following Trump’s New Tariffs, Economists Fear the Worst

by WZMQ
April 3, 2025
A A

By Brendan Scanland

WASHINGTON, D.C. — U.S. and global markets are on high alert following President Trump’s announcement of sweeping tariffs yesterday. 

After a troubling day on Wall Street, some economists worry the move could send the U.S. economy and others into a recession, if the administration doesn’t lessen up or change gears soon. 

On Thursday, the Dow fell 1,600 points while the S&P 500 saw the biggest one-day loss since 2020. 

The plunge comes as markets across the globe grapple with a baseline tariff of 10% on nearly all U.S. trading partners, as well as “discounted reciprocal tariffs” on nations that impose duties on U.S goods.  

Some economists have a dire outlook. 

“This is insane. It is a self-inflicted wound. It is going to kill our economic growth. It will lead to massive unemployment,” said Susan Aaronson, Research Professor of International Affairs at The George Washington University and an expert in international trade. “I don’t believe that that America first should mean America alone. We have to trade. You can’t export without imports,” she added. 

Retail stocks appeared to take the biggest blow. Other popular stocks, like Apple, dropped over 9% Thursday, a roughly $300 billion loss in market value. 

“If you want manufacturing to come here, you’ve got to provide incentives. Tariffs are disincentives,” said Aaronson. 

The White House said Thursday morning that the tariffs will pay off in time. 

“Trust in President Trump. This is a president who is doubling down on his proven economic formula from his first term,” said White House Press Secretary Karoline Leavitt. 

The sharp drop was also felt in markets around the world as trade war tensions skyrocket. 

“Extreme stress- it’s going to push up prices, cause supply chain disruptions and it’s extreme challenge and stress on the U.S. economy. We may see surprises, ugly surprises like we saw in 2008,” said economist Michael Szanto. 

Szanto says the tariffs are an attack on the global market, a market that has benefitted the U.S. for decades. 

“We live in a very globalized world. The United States is the richest, largest economy in the world, it’s the greatest beneficiary,” said Szanto. 

Szanto says, at the current trajectory, the U.S. could experience a scenario worse than a recession. 

“Stagflation, which we saw in the seventies, it could majorly dampen demand here. It could undermine their ability for production,” he said. 

Stagflation is an economic scenario where three things happen at the same time: Stagnant economic growth, or recession; high inflation and high unemployment. 

“We have to hope that this is contained. We have to hope that the Trump administration kind of lessens up pretty quickly, because if they don’t change gears, this could actually get worse,” said Szanto. 

The 10% tariff on all trading partners will take effect April 5 at 12:01 am. The President’s individualized “discounted reciprocal tariffs” on countries the U.S. has the largest trade deficits, will take effect April 9 at 12:01 am. 

Get WZMQ 19 anytime, anywhere

Download the app

AppleAndroid

Watch on TV

RokuFire TVZeam

Connect on social media

FacebookTwitterInstagram

More

News

Nation’s Largest All-Women Veterans Honor Flight is from the Upper Peninsula

May 21, 2025
News

Michigan Highlights Strengths at SelectUSA Investment Summit 

May 16, 2025
News

SNAP, Medicaid Take Center Stage as Republicans Race to Advance Trump’s Sweeping ‘Mega Bill’

May 15, 2025
News

Lawmakers Begin Markup of Trump’s Mega-Bill on Capitol Hill

May 13, 2025
News

Candlelight Ceremony in D.C. Honors Law Enforcement Officers who Died in Line of Duty

May 13, 2025
News

What New U.S.-China Trade Deal to Cut Tariffs Means for Local, State Economies

May 12, 2025
Next Post

Broadband expansions coming to U.P. summer 2025

Planned Parenthood of Michigan to close Marquette location

  • Home
  • News
  • Weather
  • Sports
  • Features
  • Events
  • Programming
  • Station
WZMQ CBS | 19 News

© 2025 WZMQ, LLC | FCC Public File | EEO Report

No Result
View All Result
  • Home
  • News
    • UP 200
    • Local
    • Lansing Bureau
    • Washington D.C. Bureau
    • National
    • Insights
    • Watch 19 News Live
    • CBS News Live
    • Report News
  • Weather
    • Forecast + Conditions
    • Current Alerts
    • Interactive Radar
    • Cameras
    • Share Photos/Videos
    • Closings and Delays
  • Sports
  • Features
    • Life in the 906
    • The Yooper Goddess
  • Events
  • Programming
    • Programming Guide
    • CBS
    • MeTV
    • Start TV
    • Heroes & Icons
    • Court TV
    • ION
  • Station
    • About Us
    • Community Involvement
    • Mobile App
    • Meet the Team
    • Contact
    • Careers
    • Advertising
    • Request Copy of Story
    • FCC Public File
    • EEO Report
No Result
View All Result
  • Home
  • News
    • UP 200
    • Local
    • Lansing Bureau
    • Washington D.C. Bureau
    • National
    • Insights
    • Watch 19 News Live
    • CBS News Live
    • Report News
  • Weather
    • Forecast + Conditions
    • Current Alerts
    • Interactive Radar
    • Cameras
    • Share Photos/Videos
    • Closings and Delays
  • Sports
  • Features
    • Life in the 906
    • The Yooper Goddess
  • Events
  • Programming
    • Programming Guide
    • CBS
    • MeTV
    • Start TV
    • Heroes & Icons
    • Court TV
    • ION
  • Station
    • About Us
    • Community Involvement
    • Mobile App
    • Meet the Team
    • Contact
    • Careers
    • Advertising
    • Request Copy of Story
    • FCC Public File
    • EEO Report
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our privacy policy.
Go to mobile version