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Trump’s Auto Tariff Relief & ABC Braces for Layoffs | Afternoon Update | 3.5.25
Wed, 5 Mar 2025
Americans largely approve of Trump’s joint address, China talks tough following new tariffs, and Legacy media layoffs seem to be far from over. Developing stories you need to know just in time for your drive home. Get the facts first on Morning Wire. Good Ranchers: Visit https://go.goodranchers.com/4hPfmTE for free bacon, ground beef, bacon, seed oil free chicken nuggets, or salmon in every order for a year + $40 off with code WIRE.Shopify: Go to https://Shopify.com/morningwire to sign up for your $1 per month trial period and upgrade your selling today.
Chapter 1: What are the key points from Trump's joint address?
Americans largely approve of Trump's joint address, China talks tough following new tariffs, and legacy media layoffs seem to be far from over. I'm Georgia Howe with Daily Wire Editor-in-Chief John Bickley. It's Wednesday, March 5th, and this is your Morning Wire afternoon update. The Trump administration is granting a one-month exemption on auto tariffs for Canada and Mexico.
Chapter 2: Why is the Trump administration granting auto tariff exemptions?
According to White House Press Secretary Caroline Levitt, the temporary carve-out applies to Ford, General Motors, and Stellantis, following a meeting between Trump and those companies' executives. Here's Levitt during today's briefing.
Reciprocal tariffs will still go into effect on April 2nd, but at the request of the companies associated with USMCA, the president is giving them an exemption for one month so they are not at an economic disadvantage.
Chapter 3: How are the US tariffs affecting Canada and Mexico?
The administration's 25% tariffs on Canadian and Mexican imports went into effect on Tuesday, with reciprocal tariffs set to begin April 2nd. Trump blamed Canada's weak border policies for fentanyl trafficking and illegal immigration. Both nations have issued retaliatory tariffs in response.
President Trump's joint address last night is getting strong reviews from viewers. Among those who watched, 76% liked what they heard, while just 23% didn't. The speech was described by most watchers as, quote, presidential, inspiring, and unifying.
Many viewers said they felt hopeful and proud, with strong approval for Trump's plans on immigration, government spending, and the Russia-Ukraine conflict. Majority also believed he accurately described crime in the US and had a clear strategy for lowering prices.
The Supreme Court has ruled that the Trump administration must pay $2 billion to USAID contractors. Daily Wire senior editor Ash Short has more.
Chapter 4: What is the impact of the Supreme Court's ruling on USAID funds?
The 5-4 decision upholds a lower court's order to unfreeze foreign aid funds that Trump had halted through an executive order. Chief Justice John Roberts and Justice Amy Coney Barrett joined the court's three liberal justices in the majority.
In a scathing dissent, Justice Samuel Alito called the ruling an act of judicial hubris while posing the question, does a single district court judge who likely lacks jurisdiction have the unchecked power to compel the government of the United States to pay out and probably lose forever $2 billion taxpayer dollars?
Alito went on in his dissent to say that the answer to that question should be an emphatic no and that he was stunned that the majority of our nation's highest court thought otherwise.
China is saber-rattling following Trump's new tariffs, which took effect earlier this week.
Chapter 5: How is China responding to Trump's new tariffs?
Daily Wire deputy managing editor Tim Rice has the latest. Tensions between the United States and China are once again escalating as Beijing warns it is ready for any type of war. Trump increased tariffs on Chinese imports to 20%, citing efforts to stop fentanyl trafficking. In response, China imposed a 15% tariff on U.S. agricultural goods and accused Washington of bullying tactics.
Chapter 6: What are the potential consequences of increased tariffs on Chinese imports?
Defense Secretary Pete Hegseth said Wednesday that the United States is prepared for conflict, but aims to deter war by strengthening its military. Here's Hegseth on Fox this morning.
They're rapidly increasing their defense spending, modern technology. They want to supplant the United States. If we want to deter war with the Chinese or others, We have to be strong. And that president understands peace comes through strength.
Trump defended the tariffs, saying other nations have used them against the United States for years, while experts warned the move could drive up prices on food and automobiles, at least in the short term.
The CIA has paused intelligence sharing with Ukraine. CIA Director John Ratcliffe confirmed that it was halted along with military aid in an effort to pressure Kyiv into getting on board with Trump's plans to end the war with Russia.
Ratcliffe, who applauded Ukrainian President Volodymyr Zelensky's recent statement supporting Trump's leadership, says intelligence cooperation will likely resume soon. While administration officials disagree on how much intelligence was withheld, the pause was seen as a warning to Ukraine. Here's Ratcliffe on Fox.
I think on the military front and the intelligence front, the pause that allowed that to happen, I think will go away. And I think we'll work shoulder to shoulder with Ukraine, as we have, to push back on the aggression that's there, but to put the world in a better place for these peace negotiations to move forward.
Again, President Trump is going to hold everyone accountable to drive peace around the world.
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A sharp drop in mortgage rates has sparked a surge in loan demand. Mortgage applications reached the biggest increase in months last week. As we head into home buying season, total mortgage applications leapt up to 20.4% last week, while refinancing applications soared to 37% and purchase applications rose 9%.
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