The President's Daily Brief - March 25th, 2025: Trump Pumps The Breaks On Tariffs & Chaos On The Streets In Turkey

Episode Date: March 25, 2025

In this episode of The President's Daily Brief:   •  The Trump administration pulls back on its sweeping tariff plan, narrowing the scope of the trade measures set to take effect April 2nd.   ��  Massive protests erupt across Turkey following the arrest of Istanbul’s mayor and key Erdogan rival, Ekrem Imamoglu.   •  Egypt offers a new ceasefire proposal for Gaza — and Hamas is reportedly on board.   •  In today’s Back of the Brief: China firmly denies reports it’s planning to send peacekeepers to Ukraine, calling the claims “completely untrue.”   To listen to the show ad-free, become a premium member of The President’s Daily Brief by visiting PDBPremium.com. Please remember to subscribe if you enjoyed this episode of The President's Daily Brief. YouTube: youtube.com/@presidentsdailybrief Birch Gold: Text PDB to 989898 and get your free info kit on gold   Stash Financial: Go to https://Get.Stash.com/PDB Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Euphoria Calvin Klein, the new elixir collection, featuring three perfum intense scents, inspired by a unique orchid accord, paired with vanilla, each with its own distinct attitude, each with its own universe, bold elixir, sensual, woody, addictive, magnetic elixir, sweet and romantic like a lingering touch, solar elixir, a radiant expression of joy, ultra-concentrated for amplified impact and lasting power. Find your euphoria. Discover the Euphoria Elixir Collection by Calvin Klein. It's Tuesday, the 25th of March. Welcome to the President's Daily Brief. I'm Mike Baker. Your eyes and ears on the world stage. All right. Let's get briefed. In today's spotlight, the Trump administration is dialing back its sweeping tariff plan. Remember that? Originally set to take

effect on the 2nd of April, the trade measures are now expected to target fewer nations and fewer sectors, with some potentially escaping the hit entirely. We'll have those details. Later in the show, widespread protests are rocking Turkey after the arrest of Istanbul's mayor, and coincidentally, Erdogan's top rival, with unrest spilling into the streets for a fifth straight night, over 1,000 demonstrators have already been detained. Well, Erdogan's business motto is, actually, if you can't beat them, arrest them, and then beat them. Plus, a new ceasefire proposal is on the table. Egypt has put forward a plan to halt the fighting in Gaza, and this time, Hamas is reportedly on board. And in today's back of the brief, an update to a

story that we brought you yesterday, China's foreign ministry is pushing back hard on claims that it plans to send troops to Ukraine as part of a peacekeeping force, calling the reports, quote, completely untrue. But first, today's PDB spotlight. We'll begin with an update on the global tariff war as the Trump administration signals they plan to significantly narrow the scope of previous planned levies to take effect next week. As a refresher, April 2nd has been touted by President Trump as America's quote liberation day. He was set to mark the moment that his administration imposed a global regime of reciprocal tariffs on all U.S. trading partners, as well as targeted duties of 25% on specific sectors, such as automobiles, lumber, and pharmaceuticals. Well, with just over a week to go

before the big announcement, President Trump is walking back those threats. While White House officials say that the 2nd of April will still bring new global tariffs on a targeted set of U.S. trading partners, they'll likely be far less harsh than previously thought, and that's according to a report from the Wall Street Journal. Instead of going after all U.S. trading partners, administration sources told the journal that the focus will now be on the roughly 15% of nations with persistent trade imbalances.

Treasury Secretary Scott Besant called this group the, quote, Dirty 15. Doesn't have quite the ring as the dirty does and doesn't, which was a fantastic movie. Anyway, while the White House is not issued an updated list of the targeted nations, it will almost certainly include China, Taiwan, Japan, and a host of countries in the European Union. But President Trump also teased Monday that certain nations may be granted exemptions and that the industry-specific tariffs will likely be

shelved entirely for the time being. Meanwhile, the fate of the off-delayed 25% tariff on all goods from Mexico and Canada also set to take effect on the 2nd of April, remains uncertain. Speaking to reporters, Trump said, quote, I may give a lot of countries breaks. It's reciprocal, but we might be even nicer than that. He added that, quote, I'm embarrassed to charge them what they've charged us. Still, the president left plenty of room for speculation, warning that while the U.S. may take less than what other nations are charging, whatever he decides to tax the dirty 15, quote, will be substantial. Trump has previously, frame the planned reciprocal tariffs as a necessary correction to what he describes as longstanding trade imbalances. The principle is, well, straightforward. If another country holds high taxes on American imports, the U.S. will respond in kind, imposing import taxes on foreign governments at the same rate. The goal, Trump argues, is to level the playing field and incentivize companies to manufacture in the U.S. But economists have warned that such an aggressive

and confrontational approach to foreign trade could have devastating financial consequences for the U.S. and our allies, and risks sending global economies spiraling into a recession. Ever since Trump began his tariff campaign by hitting Canada and Mexico and China with limited trade taxes earlier this year, markets have been jittery, to say the least. They were further rattled when Trump imposed a 25% tariff on steel and aluminum from all U.S. trading partners back on the 12th of the U. of March. A stock sell-off since the beginning of March has wiped out nearly all the gains made in the aftermath of Trump's victory in the November presidential election. And J.P. Morgan's chief

economist recently revised their economic forecast, warning there is now a 40% chance of a U.S. recession occurring sometime this year. But so far, Trump has largely shrugged off those concerns in public remarks, arguing that in the long term, tariffs will boost the government. government's coffers and help revitalize manufacturing in America. Still, his softer tone on Monday suggests the potential economic fallout of the policies is being taken more seriously behind closed doors. But he's not backing down entirely. Separate from the potential reciprocal tariffs, Trump announced on Monday that he'll charge a 25% tariff on any country that buys oil or gas from Venezuela. Unlike his broader tariff agenda,

This economic penalty appears designed to increase pressure on Venezuelan dictator Nicholas Maduro, as well as China, which is the country's largest buyer of crude oil exports. The tariff will add to existing duties, meaning that China will now be facing 45% tariffs on certain goods traded with America. Crude futures jumped slightly on the news, an analyst said the measure would likely trigger a short-term rise in the price of oil, though the impact is not expected to be too severe. While there's still plenty of uncertainty ahead, and much could change between now and next Wednesday, markets rallied across the board Monday on the news that the White House may dial back plans for global economic retaliation.

All right, coming up next, mass protests erupt in Turkey after the arrest of Erdogan's top rival, and Egypt puts forward a new Gaza's ceasefire deal with Hamas, reportedly on board. I'll be right back. This podcast is brought to you in part by Stash. Saving and investing, well, it can feel impossible, but with Stash, it's not just possible. It's easy. Stash isn't just an investing app. It's a registered investment advisor that combines automated investing with dependable financial strategies to help you reach your goals faster. They'll provide you with personalized advice on what to invest in based on your goals. Or, well, if you, you use, you

just want to sit back and watch your money go to work, you can opt into their award-winning, expert-managed portfolio that picks stocks for you. Stash has helped millions of Americans reach their financial goals and starts at just $3 per month. Don't let your savings sit around. Make your money work harder for you. Go to get.dstash.com slash pdb to see how you can receive $25 towards your first stock purchases and to view important disclosures. That's get.com dot com slash PDB. This is a paid non-client endorsement, not representative of all clients and not a guarantee. Investment Advisory Services offered by Stash Investments LLC and SEC registered investment advisor. Investing involves risk, and the offer is subject to terms and conditions.

Olivia Rodriguez The unravels across North America with special guests. Get tickets Thursday, May 7th. at Olivia Rodrigo.com. As the crispy chicken sandwich from 7-Eleven, people always call me loud. And I'm like, yeah, I know. I'm crispy.

Did you expect me to whisper? If you want quiet, go eat some soup and reflect. Like, I know I'm a handful. I'm bold, I'm juicy. Throw some pickles and barbecue sauce on me, and baby, I'm a whole meal. And with seven rewards, I'm just $4. Quiet, no.

Kris, saucy, and $4? Very. Only at 711. Valley 36, 23, 26, participating stores only while supplies last the out for full terms. Welcome back to the PDB. More than 1,000 people have been arrested and detained in Turkey amid the country's ongoing political crisis triggered by the arrest of President Erdogan's chief political rival last Wednesday.

As we've been tracking here on the PDB, the unrest reached a boiling point on Sunday after popular Istanbul mayor Ekram Emomolulu was formerly jailed pending trial. That move sparked mass protests in Ankara, Istanbul, and Izmir for nearly a week now, with crowds swelling into the hundreds of thousands, despite a ban on public gatherings. Riot police responded with force deploying rubber bullets and tear gas and pepper spray in a failed bit to clear the streets. The country's interior minister confirmed that 1,133 people had been taken into custody between Wednesday and Sunday. The minister claimed the demonstrators were attempting to, quote, terrorize our streets and said 123 police officers had been injured, with authorities seizing acid, fireworks, Molotov cocktails, and knives. Erdogan has doubled down, characterizing the unrest as a, quote, movement of violence and laying blame at the feet of the opposition Republican People's Party, known as the CHP.

His government insists the judiciary is acting independently, denying that Amomol is arrested. was politically motivated. But observers, both inside Turkey and abroad, are unconvinced. The charges leveled against Imamulu, running a criminal organization, accepting bribes, extortion, and bid-rigging, are being read by many as a thinly veiled attempt to sideline the mayor from the 28 presidential race. Amamolu, who has since been transferred to a prison west of Istanbul, released a statement, rejecting what he called, quote, unimaginable accusations and slanders, and quote. A request to add terrorism charges was reportedly denied, but the mayor remains in custody alongside 47 others, including several top aides and two district mayors.

The scale of the protests have been described as the largest since the 2013 Jersey Park movement, with demonstrators standing against a systematic erosion of democratic institutions under Erdogan's leadership. Many have taken to wearing face coverings to avoid identification, citing fears of government reprisal. Despite the heavy-handed police crackdown, the unrest has shown no signs of abating. Demonstrations have been reported in at least 55 of Turkey's 81 provinces, which is more than two-thirds of the country,

suggesting a groundswell of public frustration that could prove difficult to contain. Over the weekend, the CHP proceeded with its presidential primary formally endorsing Amomolu as its sole candidate despite his imprisonment. The party says a nationwide solidarity campaign has already drawn more than 13 million participants through public signature drives and local events. In a post on X, the jailed mayor struck a defiant tone, writing, quote, that ballot box will arrive and the nation will deliver a slap to the administration it will never forget, end quote. The question now is whether Erdogan's government will escalate its response or will look for a path toward de-escalation.

Okay, shifting now to Egypt, where Cairo is putting forward a new ceasefire plan between Israel and Hamas, one that's reportedly received U.S. backing, along with a cautiously optimistic response from the Iranian proxy. The proposal follows Israel's decision last Tuesday to resume ground and air operations in Gaza, ending a fragile two-month lull in fighting. According to security sources speaking with Reuters, the plan would see Hamas release five Israel's Israeli hostages per week, including American-Israeli, Eden Alexander, while Israel pauses military action for several weeks and reopens humanitarian corridors into the enclave. From there, the proposal transitions into phase two of the original ceasefire framework that was brokered in mid-January. That next phase includes a permanent ceasefire, a sweeping release of all remaining

living male hostages, civilians and soldiers alike, and a reciprocal release of hundreds of Palestinian prisoners by Israel. Crucially, Cairo's plan includes a timeline for full Israeli withdrawal from Gaza, with U.S. guarantees to see it through. Now, the security sources say Washington has greenlit the plan, and Hamas has, quote, responded positively. But the picture from Jerusalem is murkier. An Israeli official told the times of Israel the government had not been briefed on any new

Egyptian proposal. Instead, Israeli leadership is still pushing Hamas to accept a more narrow American-backed offer dubbed the Whitkoff proposal, named after President Trump's Middle East envoy, Steve Whitkoff. That plan would have extended a temporary truce through the 19th of April, during which Hamas would release five hostages in exchange for a larger number of Palestinian prisoners. Unlike Cairo's offer, however, the Whitkoff proposal notably omits any, commitment to Israeli withdrawal from the enclave. Israel had agreed in principle to the Whitcalf framework, but countered with a demand for 11 hostages rather than five, a condition the Tehran-backed

terror group rejected. If Hamas refuses to bend, an Israeli official warned, quote, we will keep increasing the pressure until Hamas breaks, adding that a further, quote, widespread ground campaign could follow. The warning heeds rhetoric from Prime Minister Netanyahu's heart. hard-line coalition members that advocate for the removal of Palestinians from the strip. As we reported last week, Netanyahu renewed ground operations in northern and southern Gaza with a warning that all future negotiations will now take place, quote, under fire, unless Hamas accepts Israel's terms. Currently, 59 hostages remain in Hamas custody, 58 of them taken during the 7 October

2023 terror attacks. Both sides, of course, blame one another for derailing the shift to phase two of the January deal. Those 42 days of the ceasefire saw the release of 30 living hostages and the return of the bodies of eight others. Israel, in return, released nearly 2,000 prisoners and terrorists during phase one. All right, coming up next in the back of the brief, China's foreign ministry issues a firm denial of reports that it plans to send peacekeepers to Ukraine, dismissing the claim. claims as, quote, completely untrue. We'll have those details next. Hey, Mike Baker here. I want to take just a brief minute to talk about protecting your assets in the face of uncertainty. Look,

just take a peek around what's happening. Tariff wars, recession fears, stubborn inflation. These are reasons why gold has been routinely hitting all-time highs. And in volatile markets, like the one right now, well, don't just sit on the sidelines with your head in the sand. Take control and safeguard your savings. That's why so many Americans today are turning to Birch Gold Group. They've helped tens of thousands convert an existing IRA or 401k into an IRA in physical gold. So, here's a question. Is it time for you to hedge against inflation and economic instability with gold? To learn how to own physical gold in a tax-sheltered account, text PDB to 989-898. Birch Gold will send you a free no-obligation information kit.

Again, text PDB to the number 989-89-89. With an A-plus rating with the Better Business Bureau and countless five-star reviews, I trust Birch Gold to help me protect my savings with gold, and you can too. Just text PDB to 989-89-8-8 today. In today's back of the brief, an update on reports that China is considering putting boots on the ground in Ukraine in a peacekeeping capacity should Moscow and Kiev reach a ceasefire accord. As we discussed on Monday morning's PDB, the German newspaper DeVelt claimed that China was mulling plans to join British Prime Minister

Kier Starmers proposed coalition of the willing in order to enforce the terms of any potential truce. While diplomatic sources in Brussels told the outlet that the discussions were, quote, delicate, they claimed that EU officials thought China's inclusion might help, convinced Russia to agree to the concept of a peacekeeping coalition. That's a proposal that Moscow has thus far rejected. But later on Monday, Chinese officials issued a strong denial of the report, claiming that the report had no basis in reality. That's according to Politico. Speaking to reporters, a spokesman for the Chinese foreign ministry said, quote, I would like to emphasize that the reports in question are completely untrue, and China's

position on the Ukraine crisis is consistent and clear, end quote. Well, that begs the question, what is their position? China, well, has long tried to position itself as a neutral mediator between Ukraine and Russia, sending envoys to both countries throughout the course of the war. But, well, they've never condemned the invasion by Putin, or even formally called the conflict a war. And last year, they even pushed a peace proposal for Ukraine that was universally rejected by the West for granting Russia major portions of Ukrainian territory, while asking for little in the way of concessions from the Kremlin. And, well, despite their efforts to paint themselves as a moderating influence on Putin,

their unwavering economic support of Moscow does seem to betray their claims of neutrality. The Chinese Communist Party, the CCP, has been instrumental in propping up Putin's economy in the face of international sanctions. It's also worth noting that over the course of the war, the CCP has done everything short of directly supplying weapons systems to Russia. Instead, they have provided computer chips, advanced software, and dual-use technological components that have allowed Putin to patch holes in his military and keep his war machine chugging along. And that, my friends, is the president's daily brief for Tuesday, the 25th of March. If you have any questions or comments, please reach out to me. at PDB at thefirstTV.com. And of course, to listen to the show ad-free, well, it's very, very easy.

Just become a premium member of the President's Daily Brief by visiting PDB Premium.com. I'm Mike Baker, and I'll be back later today with the PDB afternoon bulletin. Until then, stay informed. Stay safe. Stay cool. Ryan Reynolds here from Intmobile. I don't know if you knew this, but anyone can get the same premium wireless for $15 a month plan that I've been enjoying. It's not just for celebrities, so do like I did and have one of your assistants assistants

assistants switch you to MintMobile today. I'm told it's super easy to do at mintmobile.com slash switch. Up front payment of $45 for three-month plan equivalent to $15 per month required. Intro rate first three months only, then full price plan options available. Taxes and fees extra. See full terms at mintmobile.com.