World leaders are reacting with dismay, threats of countermeasures and calls for swift negotiations to make trade rules fairer in response to the sweeping new tariffs announced by U.S. President Donald Trump. But initial moves have been measured, suggesting key trading partners hope to avoid outright trade wars with the world’s biggest economy.
Asian markets fell in Thursday trading and U.S. futures tumbled, setting up what could be a brutal trading day in the U.S. as investors brace for the economic shocks.
Trump said in his “Liberation Day” announcement that the import taxes, ranging from 10% to 49%, would do to U.S. trading partners what they have long done to the U.S., and draw factories and jobs back to the United States.
New York City Mayor Eric Adams said Thursday that he will pull out of the city’s Democratic primary and instead run for reelection as an independent, arguing that his recently dismissed federal bribery case had made it impossible to mount a campaign.
In a video, Adams said he will not run in the Democratic primary in June because his criminal case “dragged on too long” while the “false accusations were held over me,” preventing him from campaigning.
“I firmly believe that this city is better served by truly independent leadership, not leaders pulled at by the extremists at the far left or the far right, but instead those rooted in the common middle, the place where the vast majority of New Yorkers are firmly planted,” Adams said.
The decision came after intense speculation over whether Adams would remain in the Democratic primary, which has attracted several serious opponents, including former New York Gov. Andrew Cuomo.
St. Thomas alum Terry Dolan died in a plane crash Sunday. Dolan graduated from St. Thomas in 1983 with a degree in accounting, according to the St. Thomas 1983 yearbook. Dolan was the vice chair of U.S. Bank.
In a statement, U.S. Bank said its “thoughts and prayers” were with Dolan, his family and anyone else affected. “We are grateful that there were not any injuries to residents of the home that was impacted by the crash, and we thank all the first responders who have provided service,” it read.
“Terry was a warm and gracious leader who cared deeply for his alma mater and the broader Twin Cities community. He was a powerful model of other-centeredness for generations of St. Thomas students,” St. Thomas President Rob Vischer said in a St. Thomas Newsroom article.
A visitation will be held on Wednesday, April 2nd from 4 to 7 p.m. at Washburn-McReavy Funeral Home in Edina. A second visitation will be held at 10 a.m. on Thursday, April 3rd at the Church of St. Patrick, according to Dolan’s Wasburn-McReavy obituary.
Kinzie Cusipag can be reached at cusi3569@stthomas.edu.
