Chaos and Uncertainty Emerge After Trump’s Tariff Announcement

The influential figures on Wall Street were gripped by a range of emotions—anger, anxiety, frustration, and fear—over the weekend as they responded to President Trump’s sweeping introduction of new tariffs. Top advisers to Trump scrambled to defend the move through various media appearances. Some of his advisers indicated they had already engaged with foreign nations looking to negotiate trade deals.

The dawn of trading in Asia this morning saw financial markets severely impacted by another wave of heavy selling, as investors and economists grappled with the rising likelihood of a significant economic slump. Stocks fell by over 8 percent in Japan and around 5 percent in South Korea. The value of Bitcoin has plummeted by 10 percent since the announcement, now under $78,000, and U.S. oil prices have dropped 15 percent.

However, Trump’s top economic advisers dismissed the disorder, asserting that the trade war would eventually benefit America’s economy. Speaking to journalists recently, Trump stated that he would not rescind the tariffs until the U.S. trade deficits with China, the E.U., and other countries were eliminated. “Without resolving that issue,” he said, “I’m not making a deal.”

Mark Landler, our chief London correspondent, notes that like Brexit, Trump’s tariffs have dealt a significant blow to the established order. Still, similar to Brexit, the ultimate impact remains unclear. Trump could yet change his stance, and the global popularity of free trade might ensure its continuation, even without the U.S., the system’s key player.

What’s Next: The recent tariff announcement has plunged corporate America into a state of turmoil. We’ve reached out to economists, investment researchers, and other experts to provide insight into what lies ahead.

Although the accounts could not be independently confirmed, the details matched a video obtained and authenticated by The Times. It also seemed to support the U.N.’s assertions that Israeli troops had killed the aid workers, disposed of their remains, and destroyed their vehicles.

Following the video’s emergence on Saturday, the Israeli military stated that its initial accounts of its soldiers’ involvement in the incident had been partially inaccurate. Learn more here.

What’s Next: Following the glaring inconsistencies in the Israeli account becoming public, the military moved more swiftly than usual to address the problem. An official, however, denied reports that some of the bodies had been found bound and shot at close range. Additionally, Prime Minister Benjamin Netanyahu will this morning meet with President Trump at the White House.

Go Deeper: The Times investigated an Israeli strike that erased a displaced persons camp and resulted in the death of a 4-year-old child.

Israel: Tel Aviv’s immigration officials denied entry to two British lawmakers and sent them back to London.

Potential for Unsecured Chemical Weapons Remains in Syria

Over 100 suspected chemical weapons sites are reportedly still present in Syria following the fall of Bashar al-Assad, according to the world’s principal chemical weapons monitor. This figure far exceeds previous estimates.

The monitoring organization is seeking to determine the status of these potential chemical threats and their security. The dangerous substances, which include sarin, mustard gas, and chlorine gas, pose a significant challenge to Syria’s interim government. Last month, the foreign minister declared that the government would dismantle any residual weapons, yet no ambassador has been appointed to the monitor yet, a crucial initial step.

For years, a childhood friend’s father had pleaded with Taffy Brodesser-Akner, a reporter for The New York Times Magazine, to share his story of surviving the Holocaust. She refused – until a piece of news changed her stance. Read the story she said she wouldn’t write.

Lives Lived: Theodore E. McCarrick, a senior cardinal accused of abuse and removed from the priesthood by Pope Francis, has passed away at 94.

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Introducing Your Future Robot Butler

Artificial Intelligence is already driving cars, writing essays, and coding. Now, humanoids—machines designed to mimic humans—are set to enter homes to help with daily chores. Engineer Bernt Børnich is aiming to place his model, Neo, in over a hundred homes by the end of the year.

Our tech reporter Cade Metz visited Børnich’s residence, where he shook hands with a prototype. The humanoid then attempted to fetch a bottle of water from the fridge but required assistance from a human technician to accomplish this. “Robots are still in the process of learning to navigate the world independently,” Cade wrote. “And they require a lot of help to do so. At least, for the time being.” Read more here.