Wall Street rebounds as Trump admin alerts ‘de-escalation’ of commerce conflict with China: Live updates

“The food our kids are eating today is not really food,” Kennedy told Jesse Watters. “It’s food-like substances, and some of it was made in petroleum refineries, and we need to give our kids real food.”

Kennedy also doubled down on his claim that autism diagnoses in the U.S. are “20 times worse than COVID-19” in terms of “the economic impact, the social impact, the moral impact on our country.”

Kennedy previously claimed autism “dwarfs the COVID epidemic and the impacts on our country because COVID killed old people.”

Mike Bedigan reports.

Companies from a wide range of industries are having trouble assessing the impact of tariffs because of the constant uncertainty over whether and where the taxes will be imposed next or postponed, sometimes on a daily or weekly basis. Some tariffs remain in place against key U.S. trading partners, but others have been postponed to give nations time to negotiate.

As a result, companies have been giving somewhat shaky financial forecasts during their latest round of earnings updates.

Here’s how several big companies are dealing with the tariff confusion:

Gustaf Kilander and Justin Baragona report.

The complaint filed in the U.S. District Court for the Northern District of California alleges the company charged consumers for Uber One without their consent, failed to deliver promised savings and made it difficult for users to cancel the service despite its “cancel anytime” policy.

Michelle Del Rey has the details.

Petro was speaking during a televised meeting of his cabinet called to address an outbreak of yellow fever, according to The City Paper Bogotá. The president spent several days in January engulfed in a conflict with the Trump administration about accepting Colombian nationals deported from the United States, before backing down.

John Bowden has the story.

In January, a delivery worker in Michigan had picked up an order from McDonald’s and was on his way to its destination when he made a wrong turn on a bridge into Canada.

When Ricardo Prada Vásquez tried to re-enter the country from the Ambassador Bridge, the 32-year-old Venezuelan immigrant was detained by immigration authorities.

Alex Woodward reports on what happened next.

Though covered by a thin veneer of nuanced “econospeak”, the message of the International Monetary Fund (IMF) could not be clearer: Donald Trump is bad for the world economy and will make America poorer, not wealthier – now, tomorrow and far into the future.

The assessment of the IMF’s economists – who are listened to intently by investors, even if not President Trump – is damning. The downgrade in the growth forecasts for the United States this year alone amounts to almost 1 per cent of GDP – a loss of some $200bn, of which about half is a direct result of the tariffs announced on and after the ironically named “Liberation Day” on 2 April. Mr Trump was at least wise to postpone his foolish initiative by one day.

The losses to output and the negative effects on the living standards of Americans will continue to accumulate well into the long term. Rather than “trillions” of dollars flowing into the US Treasury, the impact of tariffs will be negative virtually everywhere on the planet. Trade wars have no winners and countless losers. As Mr Trump said, no other president has ever done anything like this before – but it’s not in a good way.

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Elon Musk says starting in May, his time spent with the Department of Government Efficiency will “drop significantly,” and he’ll allocate more time to Tesla.

The company has faced backlash and angry protests over Musk’s leadership of DOGE.

The Austin, Texas, company said Tuesday that quarterly profits fell by 71%, far below analyst estimates. And Tesla’s revenue fell 9% in the January through March period, below Wall Street’s forecast.

Tesla’s stock has fallen more than 40% this year but rose slightly in after-hours trading.

Here’s Musk speaking on Tesla’s earnings call today:

This is the first time that’s happened.

Trump administration attorneys are ordered to come up with legal arguments to defend their “vague and unsubstantiated assertions of privilege” they’ve used as “a shield to obstruct discovery and evade compliance” with court orders.

“Defendants have known, at least since last week, that this Court requires specific legal and factual showings to support any claim of privilege. Yet they have continued to rely on boilerplate assertions. That ends now,” Xinis wrote.

Xinis also calls out the administration for its “continued mischaracterization of the Supreme Court’s Order” to “facilitate” Abrego Garcia’s release.

The judge also notes that the government must provide some evidence to defend allegations that Abrego Garcia is a member of MS-13. “Defendants cannot invoke the moniker of MS-13 as responsive to the Court’s previous order … then object to follow-up interrogatories seeking the factual bases for the same,” Xinis wrote.

The government must answer questions from Abrego Garcia’s attorneys by 6 p.m. tomorrow night.