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Live from NPR News, I'm Lakshmi Singh. Federal Reserve Chair Jerome Powell is addressing
the projected impact of President Trump's tariffs on the U.S. economy.
It is now becoming clear that tariff increases will be significantly larger than expected.
And the same is likely to be true of the economic effects, which will include higher inflation
and slower growth.
Powell, speaking today at the annual conference for the Society for Advancing Business Editing
and Writing Outside Washington, D.C.
Powell's focus on inflation suggests the Fed will likely keep its benchmark interest rate
unchanged.
On Truth, Social President Trump urged the Fed to cut rates.
U.S. stocks are spending a second day in the red. The Dow Jones Industrial
Average down 1600 points, rather 1,672 points or more than 4%. The S&P is down 262 points
and Nasdaq is down 818 points. Trump's reciprocal tariffs on 60 countries and territories include
ones large and small. NPR's Jackie Northam reports some are impoverished or uninhabited.
Many of the countries on Trump's tariff target list can hardly be described as economic powerhouses
working against U.S. interests.
Guyana, Mauritius, Madagascar, and many others now face more than 30 percent tariffs.
Lesotho, one of the world's poorest
countries, is subject to 50 percent tariffs. Then there's Heard Island and McDonald Islands,
a group of islands in the Antarctic whose only inhabitants are penguins and seals, facing
10 percent tariffs. It's a similar situation in the Norwegian territories of Svalbard and
Jemian. And the French territory of Saint-Pierre and
Miquelon, a population of about 5,000. It exports fish to the U.S. and is now facing
50 percent tariffs. Jackie Northam, NPR News.
A group of labor unions representing federal employees is again suing the Trump administration,
this time over an executive order ending collective
bargaining rights for more than one million employees. Here's NPR's Andrea Hsu.
The labor unions collectively represent more than 950,000 workers in the federal government.
They argue that President Trump's executive order is retaliation for lawsuits they filed
seeking to block Trump's firing of federal employees and other actions. The White House
says Trump has the authority to deny bargaining rights to
employees at agencies whose missions involve national security. The unions
point out that union employees in the government have served with distinction
through multiple wars and a global health emergency and that even President
Trump has never before called unions a national security concern. Now the unions are asking a federal judge to declare the executive order unlawful and
block agencies from implementing it.
Andrea Hsu, NPR News.
The Dow is down more than 1,500 points or nearly 4% from Washington.
This is NPR news. Myanmar's supreme military leader is in Thailand for a regional summit as his
country tries to recover from last Friday's devastating earthquake that killed thousands
of people in and around Myanmar's second city. Michael Sullivan has more from Chiang Rai,
Thailand.
Senior General Minh Ong Long's trips outside the country are infrequent, as he's been shunned by most of the international community,
as Myanmar faces sanctions for its 2021 coup against a democratically elected government and the brutal civil war that's followed.
His only other trips since the coup have been to the military's patrons, including Russia and China.
But the Thai government has allowed his attendance
at this meeting of nations that border the Bay of Bengal, including India and Bangladesh.
He held meetings on the sidelines of the summit with leaders of both Thailand and India. Myanmar's
military says it's observing a three-week ceasefire in the civil war to help with recovery
efforts. For NPR News, I'm Michael Sullivan in Chiang Rai.
That region is well also stands to be affected by new U.S. tariffs.
Today President Trump said that he had spoken with General Thu Lam, leader of Vietnam's
Communist Party, about potentially making a deal on tariffs.
Trump is proposing 46% levies on imports from
Vietnam starting Wednesday as part of the sweeping new tariff regime he
announced this week. Trump said on social media that Lamquot told him that
Vietnam wants to cut their tariffs down to zero if they are able to make an
agreement with the US. This is NPR News.
Oh, hey there. I'm Brittany Luce and I don't know maybe this is a little out of is NPR News.