NPR News: 11-26-2024 10AM EST

Summary

NPR News Now: Detailed Summary of November 26, 2024, 10 AM EST Episode

Host: Korva Coleman
Publication Date: November 26, 2024

---

1. President-Elect Donald Trump's Tariff Plans

Timestamp: [00:19]

In the opening segment, Korva Coleman reports that President-elect Donald Trump has announced his intention to impose significant tariffs immediately upon taking office. Specifically, Trump plans to implement a 25% tariff on imports from Canada and Mexico and an additional 10% tariff on Chinese goods. He attributes these measures to the countries' roles in facilitating undocumented immigration and the influx of illegal drugs into the United States.

“Trump is blaming the countries for allowing undocumented migrants and illegal drugs into the U.S.” — Korva Coleman [00:19]

2. China's Response to U.S. Tariff Threats

Timestamp: [00:48]

Emily Fang elaborates on China's reaction to Trump's tariff proposal, highlighting the Chinese spokesperson Liu Pengyu's stance that the allegations are unfounded.

“The allegations... run counter to facts and to reality.” — Liu Pengyu, Chinese Spokesperson [00:48]

Liu Pengyu further cautioned that initiating a trade or tariff war would ultimately be detrimental to all parties involved.

“No one will win a trade war or a tariff war.” — Liu Pengyu [00:48]

The discussion also references Trump's previous actions during his first term, where he imposed tariffs up to 50% on over $300 billion worth of goods from China to address the U.S. trade deficit. These tariffs were met with retaliatory measures from China, leading some economists to argue that such policies have negatively impacted U.S. manufacturing jobs.

3. Stock Market Response to Tariff Announcements

Timestamp: [01:19] - [01:33]

Following Trump's tariff announcement, Emily Fang reports a mixed opening in the stock market, with notable volatility as investors react to the news.

“Stocks open mixed this morning after Trump threatened to impose the new tariffs right after his inauguration.” — Korva Coleman [01:19]

Scott Horsley provides further insight, noting that the Dow Jones Industrial Average experienced a decline of over 200 points in early trading, while the Nasdaq saw an increase of more than 100 points.

“The Dow is now down 220 points. The Nasdaq is up more than 100 points.” — Korva Coleman [03:10]

Horsley explains that initial optimism was tempered by Trump's unpredictable policy moves, contrasting his early selection of Scott Besant as Treasury Secretary—a choice seen as business-friendly—with the sudden threat of steep tariffs. This volatility suggests that investors might view the tariff threat with skepticism, recalling Trump's tendency to make bold policy statements and subsequently backtrack.

“The muted reaction on Wall street suggests investors are taking the tariff threat with a grain of salt.” — Scott Horsley [01:33]

4. Legal Battle: Justice Department vs. Google Over Advertising Monopoly

Timestamp: [02:13] - [02:30]

Korva Coleman transitions to technology and legal news, reporting that a federal judge in Virginia is hearing closing arguments between the Justice Department and Google. The case centers on allegations that Google's advertising business violates U.S. competition laws.

Bobby Allen delves into the specifics of the case, outlining the Justice Department's argument that Google's dominance in online advertising—through its ad space sales, proprietary tools, and the largest ad auction house—constitutes a monopoly that stifles competition.

“Google sells ad space online... it's a monopoly that has boxed out competition.” — Bobby Allen [02:30]

Google counters by asserting that the expansion of online advertising to include social media and TV services has diluted its dominance, challenging the government's claims. The judge is expected to issue a ruling next month, following a previous decision that deemed Google's search engine an illegal monopoly, potentially leading to the spinoff of its Chrome browser.

“The judge is expected to rule sometime next month.” — Bobby Allen [02:30]

5. International Conflict: Israeli Military Actions and Ceasefire Negotiations

Timestamp: [03:10]

Korva Coleman reports escalating tensions in the Middle East, where the Israeli military has conducted strikes on at least 20 targets in Beirut, Lebanon, targeting what they identify as terrorist entities. This military action coincides with U.S. efforts to broker a ceasefire between Israel and Hezbollah.

The proposed ceasefire would implement an initial 60-day cessation of hostilities and a limited withdrawal of troops, aiming to de-escalate the conflict while maintaining a cautious stance on long-term peace prospects.

6. Romania's Presidential Election and Shift Towards Populism

Timestamp: [03:51]

Eleanor Beardsley covers significant developments in Romania's political landscape, highlighting the rise of a far-right populist candidate, Colin Georgescu, in the presidential election. Running independently and previously obscure, Georgescu surpassed expectations and outperformed most local polls, positioning himself against the center-right contender, Elena Lasconi, in an upcoming runoff.

“He will face center right contender Elena Lasconi in a runoff in two weeks.” — Eleanor Beardsley [03:51]

Georgescu's campaign, largely conducted via TikTok, emphasizes anti-NATO and pro-Russia sentiments. Analysts speculate that his surge may have been supported by Kremlin-backed efforts. Should Georgescu win, Romania—a steadfast member of the EU and NATO supporting Ukraine—would align with neighboring Hungary and Slovakia, potentially strengthening the pro-Kremlin bloc on Ukraine's western border.

“If Georgescu were to be elected, Romania would join neighbors Hungary and Slovakia to enlarge the pro Kremlin bloc on Ukraine's western border.” — Eleanor Beardsley [03:51]

7. Hong Kong Supreme Court Affirms Rights for Same-Sex Couples

Timestamp: [04:30]

In legal news from Hong Kong, Korva Coleman reports that the territory's top court has unanimously upheld previous rulings granting same-sex couples access to subsidized housing benefits and inheritance rights. This pivotal decision marks a significant advancement in LGBTQ+ rights within Hong Kong, following years of legal proceedings. The justices concluded that opponents of the decision failed to demonstrate any adverse impact on heterosexual couples.

“They said opponents could not prove that heterosexual couples in Hong Kong would be negatively affected by the court's decision.” — Korva Coleman [04:30]

---

This episode of NPR News Now provides comprehensive coverage of pivotal political, economic, and social developments both in the United States and internationally. From the potential economic ramifications of new tariffs proposed by President-elect Trump to significant legal battles involving major corporations like Google, the episode offers listeners critical insights into current events shaping the global landscape.

Transcript

[NPR Sponsor]

This message is brought to you by NPR sponsor LEESA in collaboration with west elm. Discover the new natural hybrid mattress, expertly crafted from natural latex and certified safe foams, designed with your health and the planet in mind. Visit leesa.com to learn more.

[Korva Coleman]

Live from NPR News. In Washington, I'm Korva Coleman. President elect Donald Trump says he's going to impose tariffs of 25% on Canada and Mexico in the first day he takes office. He's also going to impose additional tariffs of 10% on Chinese goods. Trump is blaming the countries for allowing undocumented migrants and illegal drugs into the U.S. a Chinese spokesperson rejects the allegations that China lets fentanyl precursors into the U.S. nPR's Emily Fang says the spokesperson also defended trade ties with the U.S.

[Emily Fang]

The proposal caused a stir in China, prompting its spokesperson in the US to say the allegations, quote, run counter to facts and to reality. The spokesperson Liu Pengyu warned, quote, no one will win a trade war or a tariff war. During his first presidential term, Trump imposed tariffs of up to 50% on more than $300 billion worth of goods in order to reduce the US trade deficit with China. China, in turn, slapped its own tariffs on U.S. goods. Tariffs some economists say cost U.S. manufacturing jobs.

[Korva Coleman]

NPR's Emily Feng reporting. Stocks open mixed this morning after Trump threatened to impose the new tariffs right after his inauguration. NPR Scott Horsley reports that the Dow Jones industrial average fell more than 200 points in early trading.

[Scott Horsley]

Stocks rallied at the start of the week on hopes that Trump's choice of Scott Besant as Treasury secretary signaled a more business friendly and predictable administration. Trump later showed his unpredictable side, though, announcing one of his first moves in office will be to impose a 25% tax on all imports from Mexico and Canada, along with an additional 10% tax on imports from China. Not only would that make commerce with three of the country's biggest trading partners more expensive, it also reverses the level of tariffs Trump prom during the campaign. The muted reaction on Wall street suggests investors are taking the tariff threat with a grain of salt. During his first term in office, Trump sometimes threatened tariffs, only to backtrack later. Scott Horsley, NPR News, Washington.

[Korva Coleman]

A federal judge heard closing arguments yesterday from the Justice Department and Google in a trial over whether Google's advertising business breaks U.S. competition laws. This comes days after a judge in a separate case declared Google's search engine an illegal monopoly. NPR's Bobby Allen has more.

[Bobby Allen]

Justice Department lawyers argued before a judge in Virginia that Google's highly lucrative advertising empire was built by breaking the law. Google sells ad space online. They own tools that websites use to display ads. And Google controls the largest auction house where ad transactions take place. Justice attorneys say it's a monopoly that has boxed out competition. Google countered that if online advertising is broadened to include social media and TV services, it is not as dominant as the government claims. The judge is expected to rule sometime next month. It follows Google losing another case over Google Search, which could result in the company spinning off its popular Chrome browser. Bobby Allen, NPR News.

[Korva Coleman]

On Wall street, the Dow is now down 220 points. The Nasdaq is up more than 100 points. This is NPR. The Israeli military says that it has struck at least 20 targets in Beirut, Lebanon today. The Israeli military says it is targeting terrorists. This comes as the US Says a ceasefire deal is close between Israel and Hezbol in Lebanon. It would call for an initial 60 day end to the war and a limited pullback of troops. A little known far right populist has taken the lead in Romania's presidential election. NPR's Eleanor Beardsley reports. The outcome of the first round of voting has left Romania's political establishment reeling.

[Eleanor Beardsley]

Colin Georgescu ran independently and was not widely known, but he outperformed most local polls. He will face center right contender Elena Lasconi in a runoff in two weeks. An anti NATO, pro Russia populist, he campaigned mostly on TikTok. Analysts have suggested Georgescu was likely helped by the Kremlin. Romania, both a member of the EU and NATO, has been a staunch member of the Western coalition supporting Ukraine. If Georgescu were to be elected, Romania would join neighbors Hungary and Slovakia to enlarge the pro Kremlin bloc on Ukraine's western border. Eleanor Beardsley, NPR News, Paris.

[Korva Coleman]

The top court in Hong Kong has upheld earlier court rulings that allow same sex couples to have subsidized housing benefits and inheritance rights. The case has been moving through Hong Kong's legal system for years. The justices ruled unanimously. They said opponents could not prove that heterosexual couples in Hong Kong would be negatively affected by the court's decision. I'm Korva Coleman, NPR News in Washington.

[Warby Parker]

This message comes from Warby Parker. What makes a great pair of glasses at Warby Parker? It's all the invisible extras without the extra cost, like free adjustments for life. Find your [e-mail] or visit one of their hundreds of stores around the country.