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Nora Ramm
Member FDIC live from NPR News in Washington, I'm Nora Ramm. Stonks regained some lost ground this week after President Trump suspended some of his new tariffs. But as NPR's Scott Horsley reports, markets have not yet fully recovered from the steep losses of the previous week.
Scott Horsley
If you squint, it looks like Wall Street's on a tear with all the major stock indexes showing big gains for the week. The Dow jumped nearly 5% and the S&P 500 index rose nearly 6%. The relief rally came after President Trump backtracked Wednesday and postponed new heavy duty tariffs on goods from most US Trading partners. Stocks are still down sharply, though, from where they were 10 days ago before Trump launched his all out trade war. Investors are worried the remaining tariffs are still the highest since at least the 1930s, which threatens to ra prices and slow economic growth. Since April 2, which the President called Liberation Day, all the major stock indexes have lost somewhere around 5%. Scott Horsley, NPR News, Washington.
Nora Ramm
Lawyers for the Justice Department have been ordered to provide daily updates to a federal judge as to how they intend to secure the return of Kilmar Armando Abrego Garcia, a Maryland man who last month was wrongfully deported to a prison in El Salvador. NPR's Jasmine Garsd has more.
Jasmine Garsd
In this latest hearing, Judge Zinnis reminded lawyers for the Justice Department that the government was prohibited from sending Abrego Garcia to El Salvador in the first place and demanding that they give her daily updates on efforts to secure his return. The Trump administration has asked for more time, arguing that the government needs, quote, a meaningful opportunity to review the Supreme Court's decision.
Nora Ramm
NPR's Jasmine Garsd. The Trump administration is now exempting certain electronics from tariffs imposed on foreign countries. The announcement came last night from the US Customs and Border Protection. These include cell phones and computers. The US has imposed tariffs of 145% on Chinese imports. The Israeli military said today that it has completed the establishment of a third security corridor in Gaza and besieged Rafah in the south. NPR's Hadil Al Shalchi reports from Tel Aviv.
Hadil Al Shalchi
The Israeli military now has control over three buffer zones in Gaza. Troops already occupy a zone that cuts across Gaza's north and a strip of land on Gaza's southern border with Egypt. And now the Israeli military said it has completed an operation to seize land between those two, cutting across Gaza. The military also said it has completed the encirclement of Rafah in the south. Defense Minister Israel Katz said forces were turning all of Rafah into, quote, a security zone, cutting the territory off from its border with Egypt. The city of Rafah has been under evacuation orders as part of an offensive that's killed Palestinian civilians. The military says it's targeting Hamas militants. Hadil Al Shalchi, NPR News, Tel Aviv.
Nora Ramm
This is NPR News from Washington. Beijing is on a gale alert this weekend. Typhoon like winds began sweeping the Chinese capital yesterday with gusts as strong as 90 mph. Hundreds of flights have been cancelled at Beijing's two international airports and tourist attractions have been closed. English golfer Justin Rose is topping the leaderboard at the midway point at the Masters tournament in Augusta, Georgia. Steve Futterman reports. An American is right behind.
Steve Futterman
Justin Rose has led the Masters previously in early rounds but has always faltered at the end. He is at the top again through two rounds. He is at 8 under Paris. One stroke back is American Bryson DeChambeau. He has won the US Open twice, but never the Masters. Last year he had his best finish, sixth place.
Rory McIlroy
I'm learning a little more wisdom than the last year and hopefully the year before. So continuing to grow two shots back.
Steve Futterman
Is Northern Ireland's Rory McIlroy. In 2014, at the age of 25, he had already won three of the four majors. Since then, the Masters has been the only one missing for McIlroy to become the sixth player to win the so called Grand Slam. For NPR News, I'm Steve Futterman. At the Masters in Augusta, basketball star.
Nora Ramm
LeBron James is becoming Ken. He's the first professional male athlete to be depicted as a Ken doll or as Mattel puts it, a kenbassador. His version is about an inch taller than the other Kens. He wears shades, headphones, Nike sneakers and his blue and white jacket number 23. I'm Nora Ramm, NPR News, in Washington.
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NPR News Now: April 12, 2025, 11AM EDT — Detailed Summary
Nora Ramm presents the latest developments from Washington, covering significant economic shifts, legal battles, international conflicts, weather alerts, and updates from the world of sports.
[00:15] Host Nora Ramm kicks off the episode by reporting on the recent fluctuations in the stock market. She highlights that stock indices have shown a resurgence after President Trump's decision to suspend some of his new tariffs. However, she cautions that the market has not fully bounced back from the substantial losses incurred the previous week.
[00:34] Scott Horsley elaborates on the economic landscape:
"If you squint, it looks like Wall Street's on a tear with all the major stock indexes showing big gains for the week. The Dow jumped nearly 5% and the S&P 500 index rose nearly 6%. The relief rally came after President Trump backtracked Wednesday and postponed new heavy duty tariffs on goods from most US Trading partners. Stocks are still down sharply, though, from where they were 10 days ago before Trump launched his all out trade war. Investors are worried the remaining tariffs are still the highest since at least the 1930s, which threatens to raise prices and slow economic growth. Since April 2, which the President called Liberation Day, all the major stock indexes have lost somewhere around 5%."
— Scott Horsley, NPR News, Washington.
This comprehensive overview underscores the precarious balance the markets are navigating amid shifting trade policies and lingering tariff concerns.
[01:15] Shifting to legal affairs, Ramm reports on a significant case involving Kilmar Armando Abrego Garcia, a Maryland man who was erroneously deported to a prison in El Salvador last month.
[01:32] Jasmine Garsd provides deeper insights:
"In this latest hearing, Judge Zinnis reminded lawyers for the Justice Department that the government was prohibited from sending Abrego Garcia to El Salvador in the first place and demanding that they give her daily updates on efforts to secure his return. The Trump administration has asked for more time, arguing that the government needs, quote, a meaningful opportunity to review the Supreme Court's decision."
— Jasmine Garsd, NPR News.
The case highlights ongoing tensions between governmental procedures and individual rights, emphasizing the judiciary's role in overseeing executive actions.
[01:58] Ramm returns to economic matters, announcing that the Trump administration has exempted certain electronics from the previously imposed tariffs on foreign goods.
"The Trump administration is now exempting certain electronics from tariffs imposed on foreign countries. The announcement came last night from the US Customs and Border Protection. These include cell phones and computers. The US has imposed tariffs of 145% on Chinese imports."
— Nora Ramm, NPR News.
This move signifies a strategic adjustment in trade policy, potentially easing tensions in specific sectors while maintaining overall tariff pressures.
Simultaneously, Ramm addresses the escalating conflict in Gaza.
[01:58] "The Israeli military said today that it has completed the establishment of a third security corridor in Gaza and besieged Rafah in the south."
— Nora Ramm, NPR News.
[02:32] Hadil Al Shalchi from Tel Aviv reports:
"The Israeli military now has control over three buffer zones in Gaza. Troops already occupy a zone that cuts across Gaza's north and a strip of land on Gaza's southern border with Egypt. And now the Israeli military said it has completed an operation to seize land between those two, cutting across Gaza. The military also said it has completed the encirclement of Rafah in the south. Defense Minister Israel Katz said forces were turning all of Rafah into, quote, a security zone, cutting the territory off from its border with Egypt. The city of Rafah has been under evacuation orders as part of an offensive that's killed Palestinian civilians. The military says it's targeting Hamas militants."
— Hadil Al Shalchi, NPR News, Tel Aviv.
This development marks a significant intensification of Israeli military efforts in Gaza, impacting regional stability and humanitarian conditions.
[03:14] Transitioning to international news, Ramm reports on severe weather conditions in Beijing.
"Beijing is on a gale alert this weekend. Typhoon-like winds began sweeping the Chinese capital yesterday with gusts as strong as 90 mph. Hundreds of flights have been cancelled at Beijing's two international airports and tourist attractions have been closed."
— Nora Ramm, NPR News.
The severe weather disrupts daily life and poses safety risks, highlighting the challenges faced by residents and travelers alike.
Shifting to sports, Ramm provides an update on the Masters Tournament in Augusta, Georgia.
"English golfer Justin Rose is topping the leaderboard at the midway point at the Masters tournament in Augusta, Georgia. An American is right behind."
— Nora Ramm, NPR News.
[03:45] Steve Futterman delves into the details:
"Justin Rose has led the Masters previously in early rounds but has always faltered at the end. He is at the top again through two rounds. He is at 8 under par, one stroke back is American Bryson DeChambeau. He has won the US Open twice, but never the Masters. Last year he had his best finish, sixth place."
— Steve Futterman, NPR News.
[04:05] Rory McIlroy shares his perspective:
"I'm learning a little more wisdom than the last year and hopefully the year before. So continuing to grow,"
— Rory McIlroy.
[04:12] Futterman adds context about McIlroy's career:
"Northern Ireland's Rory McIlroy. In 2014, at the age of 25, he had already won three of the four majors. Since then, the Masters has been the only one missing for McIlroy to become the sixth player to win the so called Grand Slam."
— Steve Futterman, NPR News.
The Masters Tournament remains a focal point for golf enthusiasts, with top players like Rose and DeChambeau showcasing their skills and veterans like McIlroy striving for historic achievements.
[04:34] In an unexpected crossover between sports and popular culture, Ramm announces that basketball star LeBron James has become the first professional male athlete to be depicted as a Ken doll.
"LeBron James is becoming Ken. He's the first professional male athlete to be depicted as a Ken doll or as Mattel puts it, a kenbassador. His version is about an inch taller than the other Kens. He wears shades, headphones, Nike sneakers and his blue and white jacket number 23."
— Nora Ramm, NPR News, Washington.
This move by Mattel signifies a merging of athletic fame with mainstream entertainment, highlighting LeBron's cultural impact beyond sports.
Note: Advertisements and non-content segments have been excluded to focus solely on the newsworthy material presented in this episode.