Today’s Headlines: The world is still reeling from Trump’s sweeping new tariffs, with markets in free fall and no signs of a course correction. Commerce Secretary Howard Lutnick confirmed the White House is not backing down, and China quickly retaliated with steep tariffs of its own, sanctions on U.S. companies, and an investigation into DuPont. Dow futures were already down 1600 points before markets even opened, and JP Morgan now puts the risk of a global recession at 60%. Meanwhile, Treasury Secretary Scott Bessent brushed off fears, even as he spent the week on Capitol Hill negotiating more tax cuts for the wealthy. In the background, the IRS is quietly working on a project to centralize taxpayer data in a new “mega API” system—likely with Palantir, raising privacy concerns. Elsewhere in the administration, the heads of the NSA and Cyber Command were abruptly fired, reportedly under pressure from far-right activist Laura Loomer. But the courts are beginning to push back: a federal judge ruled the NIH must restore full research funding, another ordered the government to return a man it wrongfully deported to El Salvador, and 19 state attorneys general are suing to block Trump’s executive order requiring proof of citizenship to vote and tossing out mail ballots received after Election Day.

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Morning Announcements is produced by Sami Sage alongside Bridget Schwartz and edited by Grace Hernandez-Johnson

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