Global reaction to President Trump’s tariffs, Defense Secretary Pete Hegseth makes military standards the same for males and females, and Colorado Democrats move to make the state a transgender sanctuary. Get the facts first with Morning Wire.Good Ranchers: Visit https://goodranchers.com for free bacon, ground beef, bacon, seed oil-free chicken nuggets, or salmon in every order for a year + $40 off with code WIRE.Jeremy’s Razors: Shave Boldly. Live Freely. https://jeremysrazors.com
Chapter 1: What is the impact of Trump's tariffs on the global economy?
President Trump's tariffs stunned the world and caused a stock market sell-off, but Trump's team is standing strong.
Let Donald Trump run the global economy. He knows what he's doing.
Will some short-term pain be worth the long-term gain?
I'm Daily Wire Editor-in-Chief John Bickley with Georgia Howe. It's Friday, April 4th, and this is Morning Wire. Defense Secretary Pete Hegseth announces the end of different military standards for men and women.
Here at the Defense Department, we are restoring the warrior ethos. That starts with standards and going back to basics.
And Colorado's Democrat-run Congress moves to make the state a transgender sanctuary.
Thanks for waking up with Morning Wire. Stay tuned. We have the news you need to know.
Hey guys, producer Brandon here. By the end of this episode, another family farm in the U.S. will have closed. You, however, can spring into action by subscribing to Good Ranchers today to make a positive impact and support American farms and ranches.
Support the tradition of American farmers and ranchers who have spent generations working to feed Americans with meat exclusively and locally sourced. Subscribe now at goodranchers.com for free bacon, ground beef, seed oil-free chicken nuggets, or wild-caught salmon in every order for a year, plus $40 off when you use code WIRED. Good ranchers, American meat delivered.
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Chapter 2: How are U.S. markets reacting to the new tariffs?
Daily Wire senior editor Cabot Phillips is here to discuss the monumental shakeup. So Cabot, Trump promised fireworks and we got them. What's the fallout so far?
Yeah, it's hard to overstate just how historic this move was. There's no other word for it. For decades, presidents in both parties have almost universally embraced free trade policies and kept tariffs at a minimum. Trump's Liberation Day marked a fundamental shift in economic policy, the likes of which we have very rarely seen in modern history. Virtually every product entering the U.S.
will now be slapped with at least a 10% tax. Many will face rates in excess of 30% or even 40%. Those numbers are some of the highest rates we've implemented in nearly a century. Markets took a tumble Thursday morning following the news, but President Trump woke up optimistic, conceding that the short-term impact could be painful, but the long-term benefits will be worth it.
But there's no doubt this move is fraught with risk.
Now, earlier you mentioned markets. How much did they fall?
Well, if you're a fan of buying the dip, you are in luck because Wall Street took a beating yesterday with trillions of dollars in market cap wiped out. Within hours of markets opening, the Dow plummeted 1,400 points. The S&P fell 4%. The Nasdaq fell 5%. Elsewhere, major U.S. brands with supply chains outside the U.S., like Nike, Ralph Lauren, and HP, saw double-digit declines.
But it was midsize U.S. companies that were the hardest hit. The Russell 2000 index, which includes smaller stocks, opened down nearly 7%, and the U.S. dollar slipped to its lowest point of the year, sinking more than 2% compared to the euro, Japanese yen, and Swiss franc. Put simply, it was arguably the worst day on Wall Street since COVID wrecked the global economy.
For their part, the White House urged patience, calling on Americans to trust Donald Trump's plan. Here's Press Secretary Caroline Leavitt making that case on CNN.
To anyone on Wall Street this morning, I would say trust in President Trump. This is a president who is doubling down on his proven economic formula from his first term. As the president declared yesterday, this is indeed a national emergency. And it's about time we have a president who actually does something about it.
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Chapter 3: What are the potential risks and rewards of the new trade policy?
During the first Trump administration, everybody said that Trump's tariffs were going to be inflationary back then. What actually happened? We had 1.5% inflation. We had the fastest growing economy in a generation. This is a big change. I'm not going to shy away from it, but we needed a big change, Lawrence.
We cannot keep going down the Joe Biden globalist pathway where we have $2 trillion of peacetime debt and deficits. We have manufacturing disappearing. That is not working for Americans.
Amid the turmoil Thursday, the Trump administration got some welcome news from one domestic manufacturer looking to capitalize on Liberation Day. Ford announced a new From America for America policy. American shoppers will now have access to employee pricing on new cars from now until June.
Now, how are other countries reacting?
Well, it's been a mixed bag. Some dug their heels in, vowing to raise rates even higher. Beijing, for example, promised, quote, resolute countermeasures, while EU Commission Chief Ursula von der Leyen is already finalizing countermeasures, saying, quote, if you take on one of us, you take on all of us. But other leaders expressed more cautious optimism and a willingness to cut a deal.
Britain's Keir Starmer reiterated that his, quote, intentions remain to secure a deal. We saw a similar willingness to work on a deal from leaders in Brazil, Singapore, Switzerland, and Vietnam. The White House is betting that we are in a better spot than our competitors to withstand a trade war, and that eventually even our foes will be forced to come to the table.
Here's Commerce Secretary Howard Lutnick with a message to our trade partners on CNN.
We are the consumer of the world, right? We buy $20 trillion worth of goods, and we are basically the buyer of everybody else's in the world's items. So what is the point of them going higher so that we go higher?
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Chapter 4: How are international leaders responding to U.S. tariffs?
And the White House says they are already in talks with a number of countries. We'll be keeping a very close eye on those negotiations this weekend. In the meantime, though, a new age of American trade policy is upon us.
All right. Well, it's both exhilarating and a little nerve wracking. Cabot, thanks for reporting.
Anytime.
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Defense Secretary Pete Hegseth announced this week plans to adopt the same fitness standards for both male and female service members.
Joining us with more is Daily Wire reporter and editor Virginia Kruda, who served in the Army for 10 years herself. Hey, Virginia. So first, what exactly has Hegseth announced here?
Well, he's announced that he's going to officially address what he has described as a decline in physical standards for service members, particularly in combat arms roles. Specifically, he says it is not acceptable for the military to hold different standards for men and women, and he promised immediate change. Here he is in a video statement on Monday.
For far too long, we allowed standards to slip and different standards for men and women and combat arms, MOSs and jobs. That's not acceptable.
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Chapter 5: What changes are being made to military standards under Pete Hegseth?
Chapter 6: Why is Colorado becoming a transgender sanctuary?
Thanks for waking up with Morning Wire. Stay tuned. We have the news you need to know.
Hey guys, producer Brandon here. By the end of this episode, another family farm in the U.S. will have closed. You, however, can spring into action by subscribing to Good Ranchers today to make a positive impact and support American farms and ranches.
Support the tradition of American farmers and ranchers who have spent generations working to feed Americans with meat exclusively and locally sourced. Subscribe now at goodranchers.com for free bacon, ground beef, seed oil-free chicken nuggets, or wild-caught salmon in every order for a year, plus $40 off when you use code WIRED. Good ranchers, American meat delivered.
As promised, Donald Trump reset the global economy this week with unprecedented tariffs. Now foreign leaders, markets, and businesses are racing to react.
Daily Wire senior editor Cabot Phillips is here to discuss the monumental shakeup. So Cabot, Trump promised fireworks and we got them. What's the fallout so far?
Yeah, it's hard to overstate just how historic this move was. There's no other word for it. For decades, presidents in both parties have almost universally embraced free trade policies and kept tariffs at a minimum. Trump's Liberation Day marked a fundamental shift in economic policy, the likes of which we have very rarely seen in modern history. Virtually every product entering the U.S.
will now be slapped with at least a 10% tax. Many will face rates in excess of 30% or even 40%. Those numbers are some of the highest rates we've implemented in nearly a century. Markets took a tumble Thursday morning following the news, but President Trump woke up optimistic, conceding that the short-term impact could be painful, but the long-term benefits will be worth it.
But there's no doubt this move is fraught with risk.
Now, earlier you mentioned markets. How much did they fall?
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