NPR News Now: April 3, 2025, 2PM EDT

Hosted by NPR

1. U.S. Stock Market Plunges Amid President Trump's Tariff Implementation

[00:25] Lakshmi Singh opens the episode with a significant downturn in the U.S. stock markets, attributing the decline to President Trump's recent tariff policies.

• Market Impact:
  • Dow Jones Industrial Average: Dropped over 1,300 points (>3% decline).
  • S&P 500: Fell by more than 4%.
  • NASDAQ: Experienced a steep plunge of over 900 points (>5% decrease).

[00:35] The cause of this decline is linked to President Trump's imposition of 10% tariffs on all imports, supplemented by reciprocal tariffs targeting specific trading partners and a 25% tariff on automobiles. These measures are part of Trump's strategy to "restore U.S. manufacturing competitiveness."

Impact on Agriculture:

[01:13] Frank Morris from KCUR reports on the adverse effects of these tariffs on American farmers in the heartland.

• Vance Emke, a Kansas farmer, voices his concerns:

  [01:26] Emke states, "President Trump's import taxes will make things worse," highlighting the increasing costs for essential farming inputs like fertilizer, seeds, and equipment, while simultaneously receiving lower prices for their crops.

• Frank Morris summarizes the sentiment:

  [01:37] "These tariffs are just absolutely bad news. There is no good news about them whatsoever. The price for everything that we buy goes up and the price for everything that we sell goes down."

[01:45] Emke emphasizes the dependence of American row crop farmers on exports, fearing that countries such as China, Mexico, and Canada might retaliate by imposing tariffs on U.S. farm exports, thereby driving commodity prices even lower.

2. Surge in U.S. Layoffs Reaches Near Pandemic Levels

[01:53] Lakshmi Singh transitions to labor news, highlighting a new report indicating a drastic increase in layoffs across the United States.

[02:06] Windsor Johnston from NPR elaborates on the findings:

• Report Details:

  • Released by Challenger Gray and Christmas, an executive coaching firm.
  • March Layoffs: Over 275,000 job cuts, marking a 200% increase compared to the same period last year.
  • Historical Context: Levels not seen since the COVID-19 pandemic.

• Drivers of Layoffs:

  • Primarily attributed to Doge, the team executing President Trump's directive to reduce the federal government workforce.

• Public and Political Reaction:

  • Backlash from labor unions, advocacy groups, and lawmakers across both political parties.
  • Critics' Concerns:
    • Weakening of critical public services.
    • Delays in essential programs.
    • Negative impact on millions relying on government assistance.

• Administration's Stance:

  • Asserts that the cutbacks will help reduce the nation's deficit and promote long-term economic stability.

3. Education Department Threatens Funding Cuts Over DEI Programs

[02:50] Lakshmi Singh reports on a contentious move by the Trump administration affecting public education.

• Action Taken:

  • The U.S. Department of Education issued a letter to state leaders warning of potential withholding of Title 1 funding—a crucial financial support for schools with high poverty rates.

• Condition Imposed:

  • Schools are given 10 days to eliminate Diversity, Equity, and Inclusion (DEI) programs.

• Implications:

  • Schools dependent on Title 1 funding may face severe financial constraints if they fail to comply.
  • The Department of Education itself is under threat of being dismantled, although this requires Congressional approval.

4. Dangerous Storm Conditions Sweep Across Central United States

[03:42] Lakshmi Singh shifts to severe weather updates, reporting on the widespread storm conditions threatening millions in the central U.S.

• Storm Details:
  • Tornadoes: Over two dozen destructive tornadoes have struck Oklahoma, Missouri, western Tennessee, and Kentucky.
  • Rainfall and Flooding: Historic rainfall has led to significant flooding in several regions.

[03:54] Marc Chouinard from the National Weather Service provides further insights:

• Flood Risk:

  "The flood risk is going to really start ramping up. So there's already been some flood impacts yesterday into last night across portions of Arkansas, western Tennessee, western Kentucky. And unfortunately, the heavy rain threat continued through Saturday."

• Projections:

  Forecasts predict an additional 5 to 10 inches of rain on top of existing levels, exacerbating flood conditions and posing ongoing threats to affected areas.

5. New York City Mayor Eric Adams Announces Independent Candidacy for Re-Election

[03:54] The final major news segment covers political developments in New York City.

[03:54] Brian Mann reports on Mayor Eric Adams's decision to run for re-election as an independent candidate, bypassing the Democratic primary.

• Background:

  • Mayor Adams was previously charged with federal bribery, campaign finance, and conspiracy offenses.
  • Following his expressed support for President Trump, the Justice Department moved to suspend these charges.

• Legal Resolution:

  [04:15] The case was dismissed by Judge Dale Ho, allowing Adams to focus on his campaign:

  "The legal fight dragged on so long it prevented him from spending time camping, campaigning."

• Campaign Strategy:

  [04:37] Adams declares:

  "I will forego the Democratic primary for mayor and appeal directly to all New Yorkers as an independent candidate in the general election."

  This strategic move aims to avoid a direct contest with former Governor Andrew Cuomo in the June 24 Democratic primary, though both may still contend in the November general election.

Closing Notes

[04:59] Lakshmi Singh wraps up the episode, reiterating the major news points covered.

Notable Quotes:

• Frank Morris: "These tariffs are just absolutely bad news. There is no good news about them whatsoever. The price for everything that we buy goes up and the price for everything that we sell goes down." [01:37]

• Vance Emke: "President Trump's import taxes will make things worse." [01:26]

• Marc Chouinard: "The flood risk is going to really start ramping up." [03:42]

• Eric Adams: "I will forego the Democratic primary for mayor and appeal directly to all New Yorkers as an independent candidate in the general election." [04:37]

This comprehensive summary encapsulates the critical developments discussed in the April 3, 2025 episode of NPR News Now, providing listeners with detailed insights into economic challenges, labor market shifts, educational policy changes, severe weather threats, and significant political maneuvers.