Sen. Warren: Tariffs are causing ‘economic chaos’
Senator Elizabeth Warren is advocating for a vote aimed at repealing the tariffs imposed by former President Trump, challenging the emergency declaration that authorized them.
During her appearance on Finance Newso’s Squawk Box, Warren stated, “The implementation of broad tariffs against nearly every country and product without any strategic planning is leading to significant economic turmoil.”
Warren also criticized the emergency legislation that enabled these tariffs, asserting it was intended for more severe situations and urged her fellow Republicans to support her bipartisan effort.
“While tariffs can be a key economic tool, they must be applied selectively,” she added.
She expressed concern that these tariffs are leading to rising prices and inflation, ultimately pressuring businesses to increase costs for consumers.
– Laya Neelakandan
Dimon: Recession is ‘a likely outcome’ of tariffs
Jamie Dimon, CEO of JPMorgan Chase, has voiced his concerns, stating that a recession in the U.S. is a “likely outcome” as a direct consequence of the tariffs implemented by Trump.
In a discussion with Finance Newso Business News’ Maria Bartiromo, he remarked, “I think it’s probably a likely scenario.”
— Erin Doherty
Air France KLM CEO says company sees demand holding up
Ben Smith, CEO of Air France-KLM, reported that despite uncertainties surrounding tariffs, demand for the airline seems to be stable.
“We are certainly looking for more certainty and clarity,” he said during an interview on Finance Newso’s Squawk Box. “At this moment, we aren’t witnessing any negative trends.”
The airline plans to release its earnings report on April 30 and has, thus far, maintained its revenue forecasts.
Following Delta’s announcement regarding a halt on expansion plans for the latter half of the year due to changing trade policies, airline stocks experienced a decline.
– Laya Neelakandan
Walmart withdraws quarterly operating income forecast
Walmart has retracted its forecast for first-quarter operating income, aiming to “retain flexibility for pricing” as tariffs are put into effect.
“Clearly, the environment has changed, which makes things quite exciting for us,” Walmart CEO Doug McMillon stated at an investor event in Dallas, eliciting laughter from attendees.
He noted, “The situation is fluid, but we are focused on managing our priorities to keep prices low and efficiently handle inventory and expenses.”
“We’ve adapted to handle turbulent periods effectively,” he added.
— Jacob Pramuk and Melissa Repko
GOP Rep. Don Bacon: Trump needs approval from Congress for tariffs
Representative Don Bacon of Nebraska has characterized the tariffs as a “high-risk move” by the Trump administration and insists they should be subject to congressional approval.
“I’m not against tariffs in general,” he stated during his Finance Newso interview, emphasizing the need for them against nations like China and other adversaries.
However, he expressed skepticism about the benefits of engaging in a trade war with all countries.
Bacon has proposed bipartisan legislation aimed at limiting the president’s power over tariffs and believes he has the backing of several Republicans in the House.
“I’m not directing the president on how to negotiate, but it is essential for him to seek Congressional approval before imposing tariffs,” he stated.
— Erin Doherty
Bessent calls for China to negotiate over tariffs
Treasury Secretary Scott Bessent is urging China to engage in negotiations regarding tariffs, highlighting the fentanyl crisis as a potential incentive for dialogue.
“It’s unfortunate that the Chinese are unwilling to negotiate, given their significant role as offenders in the global trading system,” Bessent told Finance Newso Business.
“Their economy presents the most imbalance seen in modern history, and this escalation will not benefit them,” he added.
Bessent expressed optimism that President Trump and Chinese President Xi Jinping could resolve these issues through their strong personal relationship.
“A positive move would be for them to take action on precursor fentanyl, given that drug distribution in China carries severe penalties. Why not enforce similar consequences for those exporting these chemicals to the U.S.?” he questioned.
— Jeff Cox
Delta CEO says Trump’s ‘wrong approach’ tariffs are hurting bookings
Ed Bastian, CEO of Delta Air Lines, criticized Trump’s shifting trade policies as the “wrong approach,” asserting they are negatively impacting both domestic leisure and business travel bookings.
Delta has refrained from updating its financial outlook for 2025, which Bastian had previously predicted would be the airline’s most prosperous year on record.
This marks a notable departure from the prior optimism expressed by numerous CEOs before the Trump era. In November, Bastian remarked on the Trump administration’s regulatory approach, calling it a potential “breath of fresh air.”
Amidst market uncertainty, rising prices due to tariffs, and potential widespread government layoffs, airline executives have pointed out a downturn in international travel demand to the U.S., especially from Canada, threatening to exacerbate the existing $50 billion international tourism deficit.
— Leslie Josephs
Trump urges companies to move to the U.S. for ‘ZERO TARIFFS’
President Trump is encouraging business leaders to relocate their operations to the U.S.
He remarked, “Now is an excellent time to move your company to the United States, as many others, including Apple, are doing in record numbers,” calling attention to “ZERO TARIFFS,” rapid energy hookup approvals, and the absence of environmental delays. “Don’t hesitate, do it now!” he urged via social media.
— Christina Wilkie
