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QUAKER CAMPUS April 10, 2025

Volume 23 — Issue 12

The voice of Whittier College since 1914

Global Trade Trembles Under Tariffs

World Recap • U.S. House Speaker Mike Johnson delayed a vote on the president's tax and spending package on Wednesday evening amid far-right Republican holdouts, the New York Times found. Opponents of the bill argued that budget cuts included in the legislation were not steep enough.

“Liberation Day” led to a steep decline in investment for major U.S. stock indexes. Piper Guinn NEWS EDITOR In the latest of a series of unprecedented actions, President Trump announced on Wednesday that he is pausing reciprocal tariffs on global trading partners for 90 days. This news came less than 24 hours after Trump argued on Tuesday that he “know[s] what the hell [he’s] doing,” but acknowledged that the tariffs have been “somewhat explosive.” The base rate of 10 percent tariffs on all imported goods will remain, as well as a 125 percent tariffs on goods from China, according to The New York Times.

Trump’s fluctuating tariff policy has had an immediate ripple effect on Wall Street, impacting the millions of Americans with wealth tied to the stock market. The S&P 500 stock index—a portfolio of 500 major U.S. corporations— ticked upward by 9.5 percent following Trump’s announcement on Wednesday. In stark contrast, it saw one its steepest declines in recent history earlier this week. According to Vicky Pryce, the chief economic adviser at the Center for Economics and Business Research, the S&P 500 fell almost 11 percent in just two days, a performance rivaled only by “Black

Monday” in 1987, the 2008 financial crisis, and the 2020 COVID pandemic. Compared with rates from November—around the time of the presidential election—the S&P 500 was down 20 percent before Wednesday. A drop this steep is referred to as entering “bear market” territory, where investors are encouraged to sell, and the supply-demand equilibrium becomes volatile. Other major stock indexes, such as the Dow Jones Industrial Average and the Nasdaq Composite, are oscillating significantly, as well. Persisting tariffs and a potential trade war with China, whose

Courtesy of ABC News government has imposed retaliatory tariffs on the U.S., continue to influence investment, and government bonds are still in flux. Earlier this week, the NYT reported that the U.S. Treasury’s 10year yield witnessed sharp sell-offs. When investors sell bonds, interest on mortgages, business loans, credit cards, and other borrowing rates increases. Jamie McGeever, a financial journalist for Reuters, argues that “bond tremors could easily erupt again” despite Wednesday's uptick, as recent swaps “were not reflective of a liquid, well-functioning market.” This article continues on pg. 3.

Administration For A Healthy America

Paola Ruiz STAFF WRITER

The U.S. Department of Health and Human Services (H.H.S.) is going through substantial shifts in funding and initiatives. Under the leadership of Secretary Robert F. Kennedy Jr., the department is cutting around 10,000 jobs and making its divisions smaller. However, a new division, Administration for a Healthy America, is being created to focus on preventing chronic illnesses and helping low-income communities. These changes were made to comply with Kennedy’s “Make America Healthy Again” agenda, which is aiming to improve health across the 50 states and focused on improving the wellness of the country without reliance on medications. As a result, the $11.4 billion funding that supports addiction and mental health programs was cut. In response, 23 states and Washington, D.C. are suing the federal government, saying these cuts are harmful and illegal. They argue that these grants were helping

Index:

• An attack by Israeli forces on a residential commuity in northern Gaza killed 35 people and wounded dozens more on Wednesday, Al Jazeera updated. According to Palistinian health officials, the casualties add to the more than 1,400 people who have been killed since Israel resumed fighting in the region on March 18. The Israeli military asserts that this raid was aimed at a senior Hamas fighter, but did not provide his name. • Russian offensive forces continue to advance across the front lines in Ukraine, soldiers told CNN on Wednesday. Although Kyiv is publicly committed to a lasting ceasefire, Moscow announced the largest conscription drive in more than 10 years, despite pressure from Washington, D.C. • The Internal Revenue Service (IRS) finalized a deal on Monday agreeing to share immigrant tax data with ICE. According to Reuters, IRS commissioner Melanie Krause, along with other top officials, have since resigned. • NASA terminated a contract on Wednesday with ICF international, the consulting firm that oversees the National Climate Assessment, Politico reported. Compiled by scientists every four years, the assessment provides a comprehensive report on climate change and its impact across the U.S.

R.F.K. Jr. serves as the newest Director of Health and Human Services. people with long-term needs and shouldn’t be pulled so suddenly. These changes are simultaneously happening as the country deals with a mental health crisis among young adults. According to the Center for Disease Control (C.D.C.), four in 10 students say they’ve felt persistently sad or hopeless over the past year. Furthermore, two in 10 students considered attempting suicide, while one in 10 have attempted suicide. Anxiety,

Courtesy of RTÉ News

depression, and thoughts of suicide Some students and young are becoming more common, espe- adults still do not have access to cially for young adults aged 18–25. affordable care. In 2022, the KaiAccording to the American ser Family Foundation calculated Psychological Association, feelings that roughly 26 percent of young of “persistent sadness and hope- adults have reportedly received lessness” grew by about 40 percent counseling and/or prescription between 2010 and 2020, a rate that medications for mental health only increased during the COVID conditions in the past year, indipandemic. This rise in mental cating a significant portion did health issues can be linked to not receive the care needed. social media pressure, academic stress, and isolation. This article continues on pg. 3.

• Ecuador is set to hold its second round of presidential voting on April 13 after an election cycle characterized by violent drug cartels. The conservative incumbent Daniel Noboa admitted earlier this year that $30 billion in illicit goods pass through his country each year, according to the Buenos Aires Times. Despite largely unsuccessful policy approaches to bottlenecking, Noboa is tied in the polls with progressive candidate Luisa Gonzáles.