NPR News Now - NPR News: 05-03-2025 3PM EDT

Episode Date: May 3, 2025

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Noor Ram, NPR News. Live from NPR News in Washington, I'm Noor Ram. Warren Buffett wants the United States to knock off its trade war. As NPR's Maria Aspin reports, the billionaire investor gave a sharp warning at Berkshire Hathaway's shareholder meeting today, where he also announced his plans to step down. Tariffs are a hot topic in Omaha, where Berkshire Hathaway's CEO answered investors' questions for more than four hours. The very first question was about President Trump

sweeping new taxes on imports, and Buffett had a strong warning, as broadcast by CNBC. In the United States, I mean, we should be looking to trade with the rest of the world, and we should do what we do best, and they should do what they do best. Trade should not be a weapon. At age 94, the billionaire investor is one of the most powerful people on Wall Street and beyond. He ended the meeting by announcing

that he would be resigning as CEO at the end of the year. Maria Aspin and PR News Omaha. President Trump is reiterating his threat to revoke Harvard University's tax-exempt status. Trump re-upped the threat this week in a post on his social media site, Truth Social, from member station GBH in Boston. Kirk Carapazza reports it's the latest escalation in the administration's criticism of colleges. In his post, Trump says stripping Harvard's tax-exempt status is, quote, what they deserve. Economist Robert Kelchin says the move would carry major consequences for Harvard and higher

ed in general. When an institution loses tax-preferred status, they have to pay income taxes on any income or endowment growth that they have. And also donors have to pay tax on any gifts because they're suddenly not charitable contributions. If Harvard were to lose its tax-exempt status, it could also be vulnerable to local property taxes, a big chunk of change given its vast real estate holdings. For NPR News, I'm Kurt Karipeza in Boston. In a statement, a Harvard spokesperson says there's no legal basis to rescind the school's tax-exempt status.

This week, President Trump removed Mike Walz as his national security adviser. He said he plans to nominate him to be the U.S. ambassador to the United Nations. In the meantime, Secretary of State Marco Rubio has been tapped to fill in as national security adviser temporarily while continuing his duties at state. NPR's Greg Myrie reports this might be hard to do. Greg Myrie, NPR Secretary of State, NPR The Secretary of State is in constant motion, traveling from one foreign capital to the next. In contrast, the National Security Advisor

is usually quite close to the President. His natural habitat is the White House and the Situation Room in particular. His job is to work with various agencies, the Pentagon, the CIA, the State Department, and help the president sort through policy options. So it's not a natural fit to do both jobs simultaneously. NPR's Greg Myrie reporting. You're listening to NPR News in Washington. People who live near the SpaceX rocket facility in Texas are voting today on whether the area should be its own city. Elon Musk wants to incorporate it as the new city, Starbase. The measure is likely to be approved

as most of the people eligible to vote work for SpaceX. Critics fear allowing Musk more control over the area, that he might close a popular beach and state park for launches. A new report is fueling debate over whether Gen Z is unprepared for the workforce or if they may be playing by a new set of rules. NPR's Windsor Johnston reports. Many of the companies cited poor communication, lack of motivation, and unprofessional behavior. But Jason Dorsey, the president of the Center for Generational Kinetics, says the root problem may be deeper than that.

We found that 38 percent of Gen Z in the United States said their education did not prepare them for work. And those are only Gen Zers who are in the workforce today. So we do think there's a pretty big experience and expectation gap and clearly it's showing up in data like this. 75% of employers say they're dissatisfied with at least some Gen Z hires. Some of those Gen Zers argue this isn't laziness but a reflection of growing skepticism around traditional career paths. Windsor-Johnston, NPR News.

Rain could complicate today's Kentucky Derby at Churchill Downs. There are 19 horses in the race and 13 of them have never raced in a wet track, including journalism a 3-1 favorite. This is the first jewel in horse racing's triple crown. I'm Nora Rahm. NPR News in Washington.