NPR News Now: April 5, 2025, 10 PM EDT

Host: Jack Spear

1. Stock Market Plunges Amid Tariff Push

Timestamp: [00:17]

NPR host Jack Spear opens the episode with alarming news about the U.S. stock market experiencing a significant downturn. For the second consecutive day, President Donald Trump's aggressive implementation of global tariffs has sent shockwaves through financial markets.

• Market Impact: The Dow Jones Industrial Average plummeted by 2,231 points (a 5.5% decline), marking its fourth such drop in history. Both the Nasdaq and the S&P 500 saw nearly 6% losses.

• Economic Consequences: Maria Aspen reports that these market fluctuations have resulted in trillions of dollars in evaporated wealth, affecting both investors and everyday Americans reliant on stock-based retirement accounts.

Notable Quote:

“Stocks in the US were in a free fall for a second day today as President Trump continues to push his global tariffs.” — Jack Spear [00:17]

2. TikTok's Uncertain Future after Failed Negotiations

Timestamp: [00:55] - [01:18]

Amid the economic turmoil, international trade tensions are also affecting the tech industry. Jack Spear transitions to discussing the latest developments surrounding the popular video app, TikTok.

• Negotiation Breakdown: According to NPR’s Bobby Allen, the White House had been negotiating with ByteDance, TikTok's China-based parent company, to create a new entity called TikTok America. This entity was supposed to license TikTok’s algorithm from ByteDance and implement stringent data security measures to protect American users.

• China’s Withdrawal: However, negotiations stalled when China withdrew support for the agreement, retaliating against Trump's 34% tariffs on Chinese goods. ByteDance has stated that any deal would require Chinese government approval and that critical issues remain unresolved.

Notable Quote:

“Beijing pulled its support of the agreement in response to Trump's 34% tariffs on China.” — Bobby Allen [01:18]

3. Sudden Dismissal of NSA Head Raises Questions

Timestamp: [01:56]

In a surprising move, President Trump has fired Air Force General Tim Hawk, the head of the National Security Agency (NSA), without providing any rationale.

• Leadership Vacuum: General Hawk, a four-star general with a 33-year tenure in intelligence and cyber operations, was dismissed abruptly. Neither the White House nor the Pentagon has offered reasons for his termination, leaving the NSA's leadership uncertain.

• Implications: The unexpected removal of a high-ranking official raises concerns about the agency's direction and stability, especially given the critical role of the NSA in national security.

Notable Quote:

“Officials say they received no advance notice of the decision to fire the four-star general who spent 33 years in intelligence and cyber operations.” — Jack Spear [01:56]

4. Tariffs Strain Small Businesses Ahead of Holidays

Timestamp: [02:31] - [03:09]

Lena Selyuk highlights the tangible effects of tariffs on small businesses, particularly as the holiday season approaches.

• Business Challenges: Tariffs, while paid by American importers, directly impact small business owners like Alfred Mai of ASM Games in San Francisco. Mai faces difficult decisions regarding inventory purchases for the holiday season, balancing cash flow against increased costs from tariffs on imported goods.

• Economic Strain: Mai recounts how his business managed to maintain steady prices during the pandemic by absorbing costs, but now, with no remaining margins, he contemplates raising prices to offset the tariffs—a move he finds unfavorable.

Notable Quote:

“I'm faced with the decision of having to spend all this cash, a lot... Or save a lot of it to pay for tariffs when his cards arrive from China.” — Lena Selyuk [02:31]

5. IRS Announces Major Workforce Reductions

Timestamp: [03:13]

As Tax Day looms, the Internal Revenue Service (IRS) is set to implement significant workforce cuts that could affect the agency's efficiency during a critical period.

• Scale of Cuts: An internal email revealed that the IRS plans to reduce its workforce by over 20,000 employees, representing approximately 20 to 25% of its total staff. These cuts will occur over the next 30 to 90 days and include the dismissal of probationary workers.

• Potential Impact: The reduction in personnel may hinder the IRS's ability to handle the influx of tax filings, potentially leading to delays and reduced services for taxpayers.

Notable Quote:

“The IRS had already cut some probationary workers. ... more than 20,000 employees will be cut, roughly 20 to 25% of the agency's workforce.” — Jack Spear [03:13]

6. Passing of Defrocked Cardinal Theodore McCarrick

Timestamp: [03:51]

NPR's Jason DeRose reports on the death of Theodore McCarrick, a former archbishop and prominent figure in the Roman Catholic Church who was defrocked following sexual abuse allegations.

• Legacy and Controversy: McCarrick, who served in high-ranking positions including the archbishop of Washington, D.C., was defrocked in 2019 after an internal investigation exposed multiple instances of sexual misconduct. A subsequent Vatican report revealed that Pope John Paul II had promoted him despite being aware of these allegations.

• Legal Proceedings: In 2023, a Massachusetts court found McCarrick unfit to stand trial for the alleged abuse of a 16-year-old boy due to dementia. Despite pleading not guilty, the case was dismissed on these grounds.

Notable Quote:

“McCarrick had one of the highest ranking positions in the Roman Catholic Church and is the only U.S. cardinal ever to face sex abuse charges.” — Jason DeRose [03:51]

7. Measles Resurgence in the United States

Timestamp: [04:34]

Jack Spear alerts listeners to a concerning public health issue: the resurgence of measles in the United States.

• Disease Reemergence: After being almost eradicated 25 years ago, measles cases have doubled compared to the previous year. There have been two reported fatalities, both involving unvaccinated individuals.

• Preventative Measures: Measles remains highly contagious and is preventable through vaccination. Health officials are urging the public to ensure vaccinations are up to date to curb the spread of the disease.

Notable Quote:

“Highly contagious disease is airborne and is preventable via vaccine.” — Jack Spear [04:34]

This comprehensive summary encapsulates the key discussions from the April 5, 2025, episode of NPR News Now, providing listeners with critical insights into economic challenges, international negotiations, leadership changes in national security, the impact of tariffs on small businesses, government workforce reductions, significant events within the Catholic Church, and public health concerns.