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  • Here's what the smartest people in markets and economics are saying about Trump's 'Liberation Day' tariffs
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    President Donald Trump announced his tariffs on Wednesday. Alex Wong/Getty Images 2025-04-03T22:56:52Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? President Donald Trump announced his "Liberation Day" tariffs on Wednesday.Many commentators have questioned the tariffs and highlighted their potential economic consequences.One said Trump was unlikely to U-turn on the tariffs, so it was time to "sell the dip," not buy it.President Donald Trump announced his "Liberation Day" tariffs on Wednesday and people have been reacting as global markets take a hammering.Here's what big names in business and economics have been saying:Business RoundtableJoshua Bolten, the CEO of Business Roundtable, an association that represents more than 200 CEOs, said in a statement the tariffs "run the risk of causing major harm to American manufacturers, workers, families and exporters." He added: "Damage to the US economy will increase the longer the tariffs are in place and may be exacerbated by retaliatory measures."He said the Business Roundtable "supports President Trump's goal of securing better and fairer trade deals with our trading partners" but called on him to introduce "additional reasonable exemptions" and a "transparent, predictable exclusion process."Larry Summers"Never before has an hour of Presidential rhetoric cost so many people so much," Larry Summers, a former Treasury secretary, wrote on X. "The best estimate of the loss from tariff policy is now closer to $30 trillion."Summers added that the tariffs were the most expensive and "masochistic" the US had imposed in decades.Mohamed El-Erian"The price action in global financial markets in the immediate aftermath of the US tariff announcement points to major worries about global economic growth," Mohamed El-Erian, Pimco's former CEO and the chief economic advisor at Allianz, said on X.Mariana Mazzucato"These tariffs will cause inflation in the United States; they will cause lower consumer power of US workers. The estimates are between $1,700 to $5,000 per family in terms of the costs of these tariffs," Mariana Mazzucato, an economics professor at University College London, told ITV's "Peston" program.Boaz WeinsteinBoaz Weinstein, Saba Capital Management's founder, doesn't expect Trump to change course, posting on X: "I'm often wrong, but I don't see him doing a u-turn. This is not a buy-the-dip opportunity. It's a sell the dip opportunity."David Rosenberg"So, this tariff file is now being labeled 'Make America Wealthy Again'? What is with that adverb 'again' which is defined as 'returning to a previous condition'? The previous condition, I can tell you, was not nearly as good as the current condition, seeing as US net national net worth just reached a record level of $157 TRILLION (a cool $1.2 million per household too bad we don't all live at the average!)," David Rosenberg, the founder and president of Rosenberg Research & Associates, said on X."Have tariffs really stood in the way of wealth creation in America? I think the title should simply be the truth: 'Let's Make the World Poor Again' (and then we can buy it at a discount)," Rosenberg added.Nouriel RoubiniNouriel Roubini, a professor emeritus of the NYU Stern School of Business, said the "Liberation Day" label was "Orwellian doublespeak.""Whatever the consequences of these tariffs will be ie lower growth and higher inflation and how much of it depending on the eventual size of these tariffs post-negotiations that will be ugly and long-drawn. There is absolutely no 'liberation' at all in them: not for US consumers, workers and businesses, let alone for the rest of the world," he said on X.Paul Krugman"I guess it's just possible that when we get details about the Trump tariffs they will be lower than what he just announced, but based on what he said, he's gone full-on crazy," Paul Krugman, a Nobel Memorial Prize-winning economist and former MIT and Princeton University professor, wrote in his Substack newsletter."If you had any hopes that Trump would step back from the brink, this announcement, between the very high tariff rates and the complete falsehoods about what other countries do, should kill them," Krugman added.Howard Silverblatt"March continued with President Trump's rapid executive orders and policy changes, as tariffs (along with their potential impact on the economy), inflation, employment and consumer spending became the main concerns of the market, which pulled back with increased trading on strong negative breadth," wrote Howard Silverblatt, senior index analyst of S&P Dow Jones Indices, in a S&P Global column."Adding to the concern were Elon Musk's Department of Government Efficiency (DOGE) government employment reductions, as well as US layoffs, which have increased (along with retail warnings)," he added.The Yale Budget Lab"The price level from all 2025 tariffs rises by 2.3% in the short-run, the equivalent of an average per household consumer loss of $3,800 in 2024$. Annual losses for households at the bottom of the income distribution are $1,700," wrote the Yale Budget Lab in a new analysis published on April 2, shortly after Trump's blanket tariff announcement.Jared Bernstein"True, the United States is a large and dominant country. And it is a relatively closed country, meaning we depend less on trade than most other countries," said Jared Bernstein, former chief economist, in his newsletter. "That means, as Trump has correctly argued, we can hurt them more than they can hurt us. He fails to give a coherent rationale for why we need to start a trade war with Cananda, Mexico, Japan, Europe, and other traditionally reliable trading partners.""First, though they've been explicitly cavalier about the pain they're causing, higher inflation, slower growth, lower investment, falling stock prices as of this moment, the Dow is down 1,200 points and higher recession chances could force them to recant. But, at least so far, that may have been the way of Trump 1; it's not the way of Trump 2," he added.Justin Wolfers"Monstrously destructive, incoherent, ill-informed tariffs based on fabrications, imagined wrongs, discredited theories and ignorance of decades of evidence. And the real tragedy is that they will hurt working Americans more than anyone else," said Justin Wolfers, economics professor at University of Michigan and public policy scholar, on BlueSky.Daryl Fairweather"If these tariffs were more targeted and on specific goods, I wouldn't be so sure we would have stagflation. But these appear to be extremely broad, so I expect higher inflation and lower or even negative economic growth," said Daryl Fairweather, Redfin chief economist, on BlueSky."Home construction was already going to be weak this year, but these tariffs (combined with labor problems from immigration policy) will mean fewer homes built," she added.Recommended video
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  • We found out how much Trump's tariffs are expected to cost you this year
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    Economists and supply chain experts told Business Insider the average consumer will spend about $4,000 more this year on staples from food to apparel due to cost increases caused by Donald Trump's tariffs. Justin Sullivan/Getty Images 2025-04-04T00:27:47Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Donald Trump has enacted sweeping tariffs on items imported from the country's global trade partners.The tariffs will cause price increases on goods from pantry staples to apparel, experts told BI.On average, consumers should expect to pay about $3,800 more this year, a Yale economist said.If you thought the cost of groceries was high before, economists and supply chain experts have some bad news.President Donald Trump on Wednesday announced sweeping 10% tariffs on goods from any country imported into the United States, and even higher tariffs for 60 trading partners with a persistent trade deficit with the US.The wide-reaching "Liberation Day" tariffs impact countries including China and Japan, as well as the European Union, and territories near Antarctica inhabited only by penguins. TheyCanada and Mexico.For consumers,the increased import costs caused by Trump's aggressive tariff plan are expected to result in higher prices for everything from pantry staples like coffee and sugar to apparel and larger purchases like cars and appliances.Ernie Tedeschi, the director of economics at the Budget Lab at Yale, said the price hikes are expected to increase the overall price level of goods in the United States by 2.3%, costing the average consumer household about $3,800 this year.Tedeschi told Business Insider that the existing tariffs against Mexico and Canada alone account for an expected 1% price increase of about $1,700 per household. The "Liberation Day" tariffs announced Wednesday are expected to result in a further 1.3% hike, or $2,100 per household."So 1.3% may not sound like a lot to the normal person, but $2,100 is a meaningful amount," Tedeschi said. "Now, of course, that's an average, so if you open up the hood to that number, there's a distribution beneath that number."Price hikes on pantry staples and produceThe exact intention behind Trump's tariff plan remains unclear the president says his main goal is to bring manufacturing jobs back to the United States, but some analysts suspect he may be trying to trigger a recession to reduce interest rates purposely and the stock market has tanked in response to the uncertainty.Imports from some countries will be hit with higher tariffs than others, driving uneven price hikes across industries. For example, China which largely imports machinery and appliances, furniture, toys, and electronics to the US tariff when combining the new tariffs (34%) with ones that have been previously announced. Goods from the European Union, which primarily imports medical and pharmaceutical products and motor vehicles, will be subject to a new 20% tariff.Tedeschi said the cost of clothing items is expected to increase by about 8%. He added that pantry staples like sugar and coffee are expected to increase in price by about 1.3%, while fresh produce is likely to increase by about 2.2%."The luxury of eating our favorite fruits and vegetables regardless of the season is based on global imports with much coming from Central and South America," Margaret Kidd, an instructional associate professor of supply chain and logistics technology at the University of Houston, told BI. "Tariffs will make many of these staples unaffordable."The United States-Mexico-Canada Agreement, which replaced the North American Free Trade Agreement in 2020, maintains NAFTA's zero-tariff treatment for most agricultural products, textiles, apparel, and other goods that meet the trade agreement's rules of origin. But while the United States gets much of its produce from neighboring Mexico tariff-free, including tomatoes, avocados, and strawberries, other imports will face new price hikes like grapes from Peru or bananas and mangoes from the Philippines."The USMCA is still in effect, so there are fruits and vegetables still covered under the deal and are tariff-free, but then some of them, they are not covered," Chris Tang, a UCLA professor who's an expert in global supply chain management and the impact of regulatory policies, told Business Insider.Stockpiling and substitutionsOf course, consumers and businesses alike will try to find substitutions. Still, Tedeschi said it takes time to carve out new supply chain routes, for stores to expand their offerings, and for customers to find suitable alternatives to their typical favorites."So you may, literally and figuratively, eat the price increase in the short run, as you're figuring out what a proper substitute is, but there are areas where there will be substitutions available," Tedeschi said. "Let's say coffee, for example, imported from Colombia. If Starbucks has a supply chain agreement with Colombia, over time, they'll be able to shift that to another country or another supplier to mitigate the cost of the tariff, perhaps. Whereas, in the short run, like, in a month, Starbucks is not going to be able to do that, so if you want your latte, you're going to have to pay extra."Some, like "Shark Tank" star Mark Cuban, have suggested Americans start stockpiling goods now to avoid price hikes. They say retailers may raise prices and "blame it on tariffs," even if their goods are US-made. While the experts who spoke to Business Insider say that may be true, panic buying might further hurt supply chains and cause prices to go up, too."This kind of shift in demand would actually exacerbate this price increase," Tang said. "If the demand is more stable, then the price is more stable. If everyone starts stocking up on toothpaste and toilet paper, the prices go higher."Low-income households will bear the bruntAnd that's just the immediate impact on everyday consumable items.The Consumer Technology Association estimated in a January report that Trump's tariffs could increase the price of laptops and tablets by 46-68%, video game consoles by 40-58%, and smartphones by 26-37%.Car imports will see tariffs of upward of 25%, which could translate to $12,000 or more based on an average car price of $48,000. Some automakers have responded to the tariffs by offering employee pricing deals, while others paused work at their factories and started cutting staff, Business Insider previously reported.Not every household will be affected by the tariffs similarly, either. In response to Trump's trade plan, Tedeschi said, lower-income households will spend about two and a half times more of their share of income than the highest-earning households will.Kidd said pharmaceuticals, which represent $251 billion of imports, will face tariffs from 20% to more than 50%, which will disproportionately burden Americans without insurance and may set the path toward an increased deductible for those covered under an employer health plan."Lower income households are more likely to purchase imports. They spend a larger share of their income than higher income households do, and so they are more vulnerable to tariffs than higher income households are," Tedeschi said. "And obviously people care about food for food's sake, but that also has distributional implications as well. The more the price of food goes up, the more that disproportionately affects lower-income families as well."Recommended video
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  • Meta and Amazon's ad businesses could get whacked by Trump's tariffs. Here are the other media companies at risk.
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    Mark Zuckerberg's Meta could see its ad business come under pressure due to Trump's tariffs. Celal Gunes/Anadolu via Getty Images 2025-04-03T21:07:01Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Trump's new tariffs could hurt Amazon and Meta due to their reliance on Chinese advertisers.Advertisers are expected to take refuge in performance advertising and TV sports.Analysts laid out scenarios for how ad and media companies could be affected.Amazon and Meta could be big losers from President Donald Trump's new tariffs, ad industry analysts and insiders said.Trump announced a baseline 10% tariff on products coming from all countries outside the US, but the tax is higher for certain ones. Those include China, which effectively faces a 54% tariff. Tech stocks fell sharply on the news.Amazon and Meta get a lot of business from Chinese advertisers that are trying to reach American shoppers, and they could pause advertising or lose business."Retail media and digital media will be significantly impacted by these tariffs, especially because products shipped from China and Vietnam are meaningful to Meta and Amazon," Brian Wieser, a veteran advertising analyst, wrote in a note.He estimated around $10 billion of Meta's US revenue comes from advertisers outside of US, mostly from China, and cited research showing China represents half of Amazon's top sellers on its marketplace in the US, which is likely its biggest ad driver.Eric Haggstrom, director of market intelligence at Advertiser Perceptions, said the most immediate impact would be on quick-turn products like apparel and home goods."The biggest losers you're going to see right now are companies based on Chinese-based advertising: social media and retail media," he said.Ad analysts stressed that tariffs would affect every product category and ad seller because of the global nature of many supply chains. Apple, notably, will likely get hit hard because China is its biggest manufacturing hub. But the situation is so fluid that it's impossible to predict with any certainty at this point."There's no sector that doesn't get hit by this," Wieser said.Others argued that Amazon, Meta, and search ad-driven Google would be resilient because of their scale, measurability, and ability to drive outcomes."The retail media outlets are going to continue to win," said Nadja Bellan-White, CEO of M&C North America, adding that advertisers' expectations for performance guarantees will be greater than ever. "They want to know if they spend X amount, they're going to get X result."NewStreet Research analysts wrote that Pinterest, Reddit, and Snap would be the most challenged from an ad standpoint because they have smaller user bases than the likes of Meta. Reddit, for example, has strong user communities but a specific vibe that takes extra work for an advertiser to fit into. Big advertisers could retreat to the platforms they are most familiar with.The tariffs upheaval comes as the ad industry prepares for its biggest showcase of the year, the television upfronts, when TV giants try to lock in large chunks of ad inventory."Advertisers are still going to want to lock in dollars when they need to run ads tied to product launches," Haggstrom said. "Advertisers want to make sure they are able to place their advertising at the right time. But these negotiations might take longer due to the whole economic and fiscal situation. This is a pretty major shock."Live sports is driving a lot of the TV market because of its big, reliable, and ad-friendly audience, which could benefit players like Disney and NBCUniversal.Sports is the watchword for advertisers as they worry about political backlash, longtime ad industry player Michael Kassan said."It's the safest place to be," he said.Another view is that advertisers could be hesitant to lock themselves into big TV buy and could shift spending to always-available digital channels.How Disney, Netflix, and WBD could be impactedAs for other media and entertainment companies, economic weakness that results from the tariffs could hurt those that rely on consumer spending, Morningstar analysts wrote. Most of those companies also make money from advertising and could see some slowdown there.Media and entertainment stocks nosedived on the tariffs news.Disney's parks and experiences generate most of its profit, and a recession would likely depress tourism and reduce attendance in that business. Disney's improving streaming business could make up for weakness in its experiences, though, the Morningstar analysts wrote.Warner Bros. Discovery also has had recent streaming success that could provide a buffer, but it still has a big debt burden that could make it vulnerable if the credit markets tighten, the analysts wrote.Netflix doesn't have the Disney-like moat of experiences to protect it, but it has a service that has reached utility-level status. That makes it unlikely that subscribers would cancel in droves, Morningstar analysts wrote.Bernstein analysts, however, wrote that Netflix's growth abroad could slow if Europe imposes retaliatory tariffs. Netflix is the top streaming video service in the five largest European markets.The company that remains the biggest wildcard: TikTok.Some advertisers are embracing its ability to drive outcomes, thanks to steps it's taken to make it easier for marketers to manage and measure ad campaigns, NewStreet Research analysts wrote. However, other advertisers continue to hold back because of its potential for a ban or sale. Adding to the murkiness, its future could be tied to the tariffs, with Trump suggesting he could try to use them as a bargaining chip to get China to allow a sale of the app.Recommended video
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  • I grew up anti-vax, but I'm now vaccinating my kids. I want other parents to know it's OK to change their minds.
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    Westend61/Getty Images/Westend61 2025-04-03T20:18:31Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? A mom of two grew up in an anti-vax community after her own mom said she had a bad reaction to a vaccine.Over the years, she started questioning her beliefs and now vaccinates her kids.Her sons just got the measles vaccine at 7 and 9.This as-told-to essay is based on a conversation with a mom of two in South Carolina. She asked to remain anonymous to protect the privacy of her children and parents. It has been edited for length and clarity.When I was an infant, I had a bad reaction to a vaccine. My mom couldn't wake me up for an entire day at least, that's how she remembers it.That was in the early 90s, and my parents were living at the intersection of conservative Christianity and crunchy parenting. They were surrounded by people who didn't vaccinate, and my reaction scared my mom. I'm the oldest of eight, and after that, none of us got vaccines. My parents fell deeper into anti-vax misinformation.Vaccines were always a topic of conversation around me growing up. As a teen, I read a book by Jenny McCarthy in which she said she believes her son's autism was caused by the measles, mumps, and rubella (MMR) vaccine a theory that numerous scientific studies have debunked.Despite that, I was never one of those people who makes being anti-vax their whole personality. I was somewhat open to vaccineswhich is more common than stereotypes about anti-vaxxers would have you think. In my early 20s, I got a few vaccines before a trip to South America. I was concerned about getting sick there and thought vaccines could help protect me against pathogens like those that cause tetanus and diphtheria. I felt my adult body could handle a few vaccines.The pandemic solidified my willingness to vaccinateMy husband had a similar upbringing. When our son was born 9 years ago, I started reading books and research about vaccines. I could see value in some of them, but I had a lot of questions and still wasn't comfortable vaccinating. But my son's pediatrician didn't seem to be interested in answering my questions about vaccines. I'm not sure if he didn't have the time, the knowledge, or the willingness to engage in the conversation.The next two years were stressful for our family. It was a time of change, including the death of my mother-in-law while I was pregnant with my second child. I started questioning my parenting beliefs further, and critically evaluating how I'd been raised including what I'd been taught about vaccines.Immediately after that, the pandemic started. The COVID vaccine rollout a year later solidified my belief in vaccines. My husband works in a hospital, and I saw the immediate benefit vaccines had. Later, seeing how quickly the government paused the rollout of the Johnson and Johnson vaccine due to rare side effects was reassuring I felt there really was accountability for vaccine safety. My husband and I started discussing vaccinating the kids.I want other vaccine-hesitant parents to see my storyGetting the kids up-to-date with vaccines is a long process. It's still hard for me and them. Luckily, our new pediatrician is a great resource for creating a plan that works for us. They're behind a typical vaccine schedule, but we recently got their MMR vaccines, in part because of measles outbreaks in the US.Even though I knew it was the right choice, it was hard for me. I was proud that I overcame this challenging belief I used to have. But I also want parents like me to see it is OK to change their minds.Changing minds takes respect and timeOne thing that felt very disingenuous to me in the past was when people advocating for vaccination said vaccines have no risk. Everything in life has risks, and it's important to acknowledge that. Today, I know the risk from vaccines is extremely minimal and comes with a huge reward. I put it in perspective by thinking about how driving is a much bigger risk and one I take every day.I was a good mom when I wasn't vaccinating my kids, and I'm a good mom now. Any conversation about vaccines should start with that in mind. Get curious about a person's reasons for not vaccinating. Don't blame, judge, or try to change their minds just ask about their beliefs. Maybe they'll ask about yours, too.Don't expect immediate change. For me, this took years, and it's still difficult. But you never know when a piece of your conversation might stick with someone and open them to more honest, nonjudgmental conversations about vaccination.Recommended video
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  • A running list of companies that have discussed price increases due to Trump's tariffs
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    Some companies are preparing to raise prices in response to President Donald Trump's tariff proposals. Brandon Bell/Getty, Tyler Le/BI 2025-04-03T20:36:13Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Trump followed through on months of tariff threats, announcing levies on dozens of countries.Even before his so-called "Liberation Day," companies warned they would pass costs on to shoppers.BI is keeping track of companies that said they'd raise prices due to tariffs.Companies could and already have started raising prices on Americans in response to President Donald Trump's latest slew of tariffs.While firms raise prices for many reasons, some were blaming hikes on tariffs long before Trump's so-called "Liberation Day." Now that he's announced tariffs on over f180 countries on top of a 10% baseline tariff on all imports, more price increase announcements are sure to follow. Autos, in particular, are an area of focus since Trump announced a 25% tariff on all car imports into the US."April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again," Trump said during his remarks.Some economists have said that Trump's tariffs and the uncertainty with his overall trade policy could lead companies to raise prices on the goods they produce. "Both businesses and consumers are getting shaken by this approach," Heather Boushey, an economist who served on former President Joe Biden's Council of Economic Advisors, told reporters on a Tuesday press call.At the end of 2024, some companies warned that they would consider raising prices on consumers if Trump implemented his broad tariff proposals. While it's still possible they could absorb some of the costs of the tariffs, here are the companies that have warned of price increases.AutoZonePhilip Daniele, the CEO of the auto-parts company AutoZone, told analysts on a September earnings call that tariff policies had "ebbed and flowed over the years," and if Trump implemented more tariffs, "we will pass those tariff costs back to the consumer.""We generally raise prices ahead of that," Daniele said, adding that prices would gradually settle over time. "So, that's historically what we've done," he said.Trump's 25% tariff on car imports is expected to increase manufacturing costs by anywhere from $4,000 to $12,000.Columbia SportswearTim Boyle, the CEO of Columbia Sportswear, told analysts on an October earnings call that the company was "very concerned about the imposition of tariffs. " He said that while he considered Columbia adept at managing tariffs, "trade wars are not good and not easy to win."Boyle also told The Washington Post in October that the company was "set to raise prices.""It's going to be very, very difficult to keep products affordable for Americans," he said. He later said in a February interview with CNBC that "we need some surety about what is going to happen" before making price changes.Stanley Black & DeckerDonald Allan, the CEO of the manufacturing company Stanley Black & Decker, told analysts in an October earnings call that the company had been evaluating "a variety of different scenarios" to plan for new tariffs under Trump."And obviously, coming out of the gate, there would be price increases associated with tariffs that we put into the market," Allan said, adding that "there's usually some type of delay given the processes that our customers have around implementing price."Allan later said during a February earnings call: "Our approach to any tariff scenario will be to offset the impacts with a mix of supply chain and pricing actions, which might lag the formalization of tariffs by two to three months."WalmartWalmart CFO John David Rainey told CNBC on November 19 that the company will likely raise prices if Trump's tariff proposals are implemented."We never want to raise prices," he said. "Our model is everyday low prices. But there probably will be cases where prices will go up for consumers."The company's CEO, Doug McMillan, said during a February earnings call that "tariffs are something we've managed for many years, and we'll just continue to manage that."Best BuyBest Buy CEO Corie Barry said during the company's March earnings call that Trump's tariff plans are likely to increase prices."Trade is critically important to our business and industry. The consumer electronic supply chain is highly global, technical and complex," Barry said. "We expect our vendors across our entire assortment will pass along some level of tariff costs to retailers, making price increases for American consumers highly likely."TargetTarget CEO Brian Cornell told CNBC in a March interview that Trump's 25% tariff plan on goods from Mexico and Canada would likely result in price increases on produce."Those are categories where we'll try to protect pricing, but the consumer will likely see price increases over the next couple of days," Cornell said.VolkswagenAccording to a memo first reported by Automotive News, Volkswagen said it would place an import fee on vehicles made outside of the US in response to Trump's 25% tariff on car imports.The company said it would provide more details on its pricing changes in response to the tariffs by mid-April.Have a tip? Reach out to this reporter at asheffey@businessinsider.com.Recommended video
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  • Trump is moving forward with his plan to limit eligibility for a key student-loan forgiveness program for public servants
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    President Donald Trump's administration is taking the next step toward revamping key student-loan forgiveness programs.On Thursday, the Department of Education announced it would be holding two public hearings to solicit feedback on its plans to refine the Public Service Loan Forgiveness program and income-driven repayment plans.This is part of the negotiated rulemaking process, a lengthy process federal agencies are required to undergo to change existing regulations. The department said that public hearings will be held in person on April 29 and virtually on May 1."Not only will this rulemaking serve as an opportunity to identify and cut unnecessary red tape, but it will allow key stakeholders to offer suggestions to streamline and improve federal student aid programs," Acting Under Secretary James Bergeron said in a statement.A draft document the Department of Education posted on the Federal Register stated its intent to examine eligibility for PSLF, which forgives student debt for government and nonprofit workers after 10 years. It also said it would be looking to streamline the Pay As You Earn plan, which caps borrowers' monthly payments at 10% of their discretionary income; and the income-contingent repayment plan, which caps borrowers' monthly payments at 20% of their discretionary income.Trump signed an executive order in early March aimed at limiting PSLF eligibility, and the announcement of public hearings appears to be the next step in carrying out that order. The department's draft document said that the public sessions would work on "refining definitions of a qualifying employer for the purposes of determining eligibility" for PSLF.These moves come as the Trump administration attempts to dismantle the Department of Education altogether. On March 20, Trump signed an executive order tobegin eliminating the department, following the department'sfiring ofover 1,300 workers just over a week prior.While the Trump administration cannot eliminate a federal agency without Congress, it has taken steps to gut the agency and is beginning to examine ways to transfer some of the department's capabilities, like student loan management, to other agencies.Some student-loan borrowers in public service previously told Business Insider that they were concerned about the fate of their relief under Trump's proposed changes."We've sacrificed a big part of our lives, in order to stay within this program, and you can't just change the rules as you go," a borrower enrolled in PSLF said.Have a tip or a story to share? Contact this reporter via Signal at asheffey.97 or via email at asheffey@businessinsider.com. Use a personal email address and a nonwork device; here's our guide to sharing information securely.
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  • Markets are tumbling, but at least the tariff memes are gold
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    Donald Trump's so-called "Liberation Day" means that tariffs are suddenly everywhere. That means tariff memes are also everywhere.The US president on Wednesday signed an executive order imposing a 10% baseline tariff on all countries, taking effect Saturday, and adding reciprocal tariffs.Global markets plummeted on the news.But if there's one thing you can count on amid any turmoil financial or otherwise it's that some people will always have a sense of humor about it, even if it's a little dark. So, social media users have been expressing their economic fears and anxieties the modern way: with memes.Here are some of the best ones:Enjoy, for example, the picture showing Trump yelling, "Pay the tariffs!" at a group of penguins.Trump's tariffs include the Australian territory of the Heard Island and McDonald Islands a pair of sub-Antarctic remote islands uninhabited by humans but home to penguins, sea birds, and seals.The meme refers to one that originated in 2017, in which Trump appeared as if he was yelling at an 11-year-old boy who had asked to mow the White House lawn.Another meme shows Marvel superhero Wolverine lying in bed, looking longingly at a Studio Ghibli-fied picture of former US Secretary of the Treasury Steve Mnuchin and his wife, Louise Linton, holding a sheet of new $1 bills. Mnuchin was Treasury Secretary during Trump's first term in office. @jdcmedlock / X Users of OpenAI's ChatGPT have recently started a trend of using the AI chatbot to turn regular photos into pictures in the distinctive style of Studio Ghibli, the animation studio behind films like "Spirited Away" and "Howl's Moving Castle."In the original photo in 2017, Mnuchin was at the Bureau of Engraving and Printing in Washington, D.C., to see the first run of $1 bills featuring his signature. At the time, the image of the chicly dressed couple posing with money quickly drew comparisons to James Bond-esque villains, but the new image makes it seem like the person who posted it might have preferred that to today's market chaos.A different meme shows Patrick Schwarzenegger as Saxon Ratliff in season 3 of "The White Lotus," a zeitgeisty and heavily memeified HBO show. He plays a toxic finance bro on a family vacation."Look, the prices of goods going up and my portfolio going down isn't necessarily a bad thing, because I love working and that just means I need to grind even harder now," the person captioned the photo.And who could forget the famous "Arrested Development" meme of rich matriarch Lucille Bluth estimating a banana costs $10? The joke is supposed to highlight how wealthy and out-of-touch Bluth is, but "unironically this is what's happening in America right now," one person wrote on X."Just got off the phone with my financial advisor, he just told me my 401k is now a 400k," a different person tweeted, alongside a photo of late comedian and actor Rodney Dangerfield.And finally, one user tweeted an image of a stock heatmap almost entirely red with a superimposed image of Vice President JD Vance asking, "Have you said thank you once?"Vance was photoshopped to appear to have a larger face, which has been a trending meme in recent weeks. The question is a reference to Trump and Vance's contentious meeting with Ukrainian President Volodymyr Zelenskyy in February. In that meeting, Vance chastised Zelenskyy for not wearing a suit and asked him, "Have you said thank you once?" regarding American aid to the country, which Russia invaded in 2022.
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  • Microsoft CTO breaks down how he sees software developer jobs evolving in the next 5 years
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    Kevin Scott, the CTO of Microsoft, expects 95 percent of code to be AI-generated in the next five years. JASON REDMOND/AFP via Getty Images 2025-04-03T15:38:06Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Kevin Scott, the CTO of Microsoft, says 95% of code will be AI-generated within five years.In a podcast interview, he said he doesn't expect humans to be entirely cut out of programming.He said AI tools will allow smaller teams to tackle larger-scale projects.Microsoft CTO Kevin Scott expects the next half-decade to see more AI-generated code than ever but that doesn't mean human beings will be cut out of the programming process."95% is going to be AI-generated," Scott said when asked about code within the next five years on an episode of the 20VC podcast. "Very little is going to be line by line is going to be human-written code.""Now, that doesn't mean that the AI is doing the software engineering job, and so I think the more important and interesting part of authorship is still going to be entirely human," he added.Scott said he's been programming for 41 years long enough to watch the industry undergo a similar shift while he was a child in the 80s."In the transition from Assembly language programming to high-level language programming, like there were some old farts who would say like, 'You're not a real programmer if you don't know how to write in Assembly language, and that's the only real coding, and the way to do things the right way," he said. "Nobody talks about that anymore."What's occurring with artificial intelligence, in Scott's opinion, isn't too different. Scott said "the very best programmers" will adjust to the incorporation of AI into their routines."We've gone very quickly from developers being skeptical about these tools to like, 'You will get this from my, you know, cold dying fingers. I think of this as like one of the most essential tools in my toolkit and I will never give it up,'" he said.Though Scott believes AI is capable of lowering the barrier of entry to coding, he said it'll still be necessary to employ programmers with solid understandings of niche problems."Think about this as sort of raising everyone's level. So, it makes everybody a programmer and you no longer have to go get someone to make a website for you," Scott said. "But if you are trying to solve the word the world's hardest computational problems, I think you're going to need computer scientists, and they're going to use these tools insanely well."What AI is likely to do, he added, is cut out the middle-man when it comes to simpler, more personal needs. Instead of waiting for a developer to anticipate your need for a particular tool, he said, you'd ideally be able to use AI programs to build it yourself."You have teams of people whose job is to go anticipate a bunch of very granular user needs in some narrow space and then they're going to go write a bunch of code, and then figure out how to hang that code onto some user experience, and they hope that they've done a good enough job," he said."That's going to change. Like you just aren't going to need as much of that anymore," he added.Though the responsibilities assigned to engineers may eventually look different, Scott doesn't believe the role itself will go extinct. And much like Y Combinator CEO Garry Tan, who expects AI-assisted coding to help a team of 10 engineers do the work of 100, Scott thinks that AI should ideally enable smaller groups to take on large-scale projects."I'm hoping that it will get easier for small teams to go do big things," Scott said. "The reason that's important is, I think small teams are just faster than big teams are. You can do a lot with like 10 really great, super motivated engineers with really powerful tools."Recommended video
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  • I used to return everything I bought from Target. I thought it was the ultimate parenting hack — I was wrong.
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    The author (not pictured) used to return everything she bought at Target. Dania Maxwell / Los Angeles Times 2025-04-03T15:48:23Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? For years, I've been returning most items I bought at Target.I thought the hack was ridding my house of clutter and keeping my spending low.But my kid made me feel ashamed of the hack, and I realized I was misusing a loophole.It all started with matching family outfits.I wanted a family portrait in which my family of seven wore similar outfits some combo of pink and white. I spent hundreds of dollars at Target on shoes, dresses, pants, and shirts.After the photo was taken, no one in my family wore those outfits again. My five children, ages 11 to 1, expressed how much they hated the clothes. My girls never liked the shirts in the first place, complaining that they were itchy and tight. The boys didn't like the pink stripes on theirs.Every time I saw the pieces we wore only once hanging in the closet, I felt a slow creep of regret and frustration. The discomfort of those negative feelings ultimately spurred me into action.I didn't have the energy to sell the outfits on Facebook Marketplace. My local consignment shop doesn't take Target's brands, and they weren't interested in the adult items.I wondered if I could bring everything back to Target. To my surprise, the Target sales associate accepted all the items no questions asked for a full refund. I didn't even have a receipt or the tags.Suddenly, I unlocked a new hobby, but in the end, I felt ashamed of my hack.I've continued returning most items I buy at TargetFor the last three years, I've been shopping at Target, using the Circle app, and returning everything we don't use more than once.Before heading to Target, I perused the house in search of items I could return. For example, I recently discovered a cake stand and pitcher we used for my daughter's 11th birthday brunch. If we had another party, she'd want a new aesthetic, and the items would continue to gather dust. I returned both and got back $20.I also recently went through my boys' clothing, which is mostly Target's Cat & Jack brand. I found khakis, Hawaiian button-downs, and graphic T-shirts. They no longer wear these clothes because they've grown out of them.The Cat & Jack return policy allows customers to return any item to Target for a full refund within one year of purchase as long as they have the original receipt.I returned all those clothes for over $100.There were some benefits to returning most of my purchasesI found that buying, using, and returning items alleviated some of the financial and organizational mental load of parenthood.My kids could participate in activities like family photos, Halloween costumes, and school spirit days without accumulating clutter. I thought of it as the ultimate decluttering technique.The financial benefits were a bit murkier. Of course, I was just getting the money back that I already spent a few weeks prior to buy more items.But recycling the same cost kept me from overbuying. I bought what we needed, keeping our family spending budget low.Plus, there was a dopamine award. I was getting what I wanted at Target without seemingly spending extra money.I now feel ashamed of this hackI thought I discovered the ultimate parenting hack, but I started to wonder if I was doing the right thing."Just pick something! We can always return it," my daughter yelled at her sister in a store once.That's when my "greatest parenting hack" sounded more like a dirty little secret coming out of my 11-year-old daughter's mouth.That moment forced me to reflect on the integrity of this behavior. Returning things felt like the responsible thing to do. But was it? Is buying something with the intent to use it and return it wrong?Suddenly, it felt like I was misusing a financial loophole. My hack reminded me of credit cards: You can buy whatever you want, especially things you can't afford, but in the long run, you're just worsening your credit and screwing yourself over.I didn't want to teach my kids to think that when they grew up, they could buy whatever they wanted as long as there was a loophole. I want to teach them smart financial literacy and consumer decisions not ones like returning everything you buy.So, I'm trying to slow down with the returns and set a good example for my kids. Now, when I head to Target, I try not to bring any items with me.Recommended video
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  • Apple is getting screwed by Trump's tariffs
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    Apple CEO Tim Cook. Justin Sullivan/Getty Images 2025-04-03T14:08:19Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Donald Trump's tariffs are about to hit Apple hard.Tariffs are set to hit Apple's key manufacturing hubs, including China, Vietnam, Thailand, and others.It could mean more expensive iPhones if Apple passes the costs on to consumers.Tim Cook might be out of luck this time: Donald Trump's "Liberation Day" tariffs look like they're about to hit Apple hard.A long-expected executive order signed by the president on Wednesday introduced a 34% tariff on goods from Apple's most important manufacturing hub China. It adds to an existing 20% tariff, meaning the effective tariff rate on the country is now 54%.China has long been its central hub for manufacturing and assembling everything from iPhones to MacBooks. Tariffs now threaten to raise the cost of Apple goods imported from the center of its supply chain universe.Although the sweeping tariffs are also set to hit other tech companies with sprawling supply chains such as Tesla or Nvidia it's a particularly big hit for Apple.Jamie MacEwan, senior analyst at Enders Analysis, previously told Business Insider he estimates that "almost half of Apple's revenue is exposed to China through direct sales and the supply chain."It is also a blow to Cook, who has spent years trying to build a tight-knit relationship with Trump. The Apple CEO met the president for dinner at Mar-a-Lago in December, attended his inauguration in January, and pledged a $500 billion investment in the US in February.Apple has made moves in recent years to diversify its supply chain away from China in the face of geopolitical tensions, but Trump's levies appear to diminish even those efforts.The countries Apple has increasingly shifted manufacturing and assembly operations to India, Malaysia, Vietnam, Thailand, and Ireland have all been hit with tariffs above Trump's baseline 10% rate.Though Cook managed to secure an exemption for the company when Trump first escalated a tariff-led trade war in 2018, as things stand, Apple has no escape from the latest wave of tariffs.Apple did not immediately respond to Business Insider's request for comment.The reality facing Apple is already being digested by markets. Apple shares fell by about 9% on Thursday as investors triggered a panic sell-off over fears of the implications of Trump's plans.In a note, analysts at investment bank Citi wrote that "if Apple cannot get exempted this time and assuming Apple gets hit by the accumulative 54% China tariffs and does not pass it through, we estimate about 9% negative impact to the company's total gross margin."Analysts at Jefferies, meanwhile, wrote in a Thursday note that in their worst-case scenario one in which the 27 million iPhones made in China and imported to the US are subject to the 54% tariff Apple's net profit for the fiscal year could be reduced by 14%.This all paints a less-than-pretty picture for Apple and, potentially, its consumers. Without an exemption, there could be more expensive iPhones on the way, Apple's margins could take a hit or both.Recommended video
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  • Prince Harry is being accused of bullying by the chair of a charity he cofounded. Here's what happened.
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    Prince Harry. Max Mumby/Indigo/Getty Images 2025-04-03T14:25:17Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? On March 26, Prince Harry resigned from Sentebale, a charity he cofounded.He resigned in solidarity with the board of trustees, who stepped down after the chair refused to.Now, the chair, Sophie Chandauka, has accused Prince Harry of bullying her.One of Prince Harry's charitable organizations has become the center of controversy.On March 26, Harry and Prince Seeiso of Lesotho announced they were resigning as patrons of Sentebale, a charity they cofounded in 2006.The pair said in their announcement that it was "devastating" they had to step down and pointed to issues with the organization's chair, Sophie Chandauka, as the reason for their resignation.Days later, Chandauka accused Prince Harry of "harassment and bullying at scale" in a Sky News interview.Sentebale in turmoilWhen it was founded, Sentebale aimed to support children and young people living with HIV or AIDS in Lesotho and Botswana. In 2024, it expanded its mission to help young people more generally in southern Africa.The princes confounded the organization in honor of their late mothers and have maintained a close relationship for decades. Prince Seeiso even appeared in the Netflix docuseries "Harry & Meghan" in 2022.Harry and Seeiso have been patrons of Sentebale for nearly 20 years, with Harry frequently traveling to Africa to support the organization.However, in recent months, tensions have been mounting between Sentebale's board and Chandauka, who was appointed chair in July 2023. Chandauka, a lawyer and biotech founder, had previously been a Sentebale board member from 2009 to 2015, according to the organization's website. Prince Harry and Sophie Chandauka in October 2024. Brian Otieno/Getty Images for Sentebale Five former Sentebale trustees said in a statement shared with Business Insider that they "made the difficult decision to unanimously resign," adding that they saw "no other path forward as the result of our loss in trust and confidence in the Chair of the board.""Our priority has always been, and will always be, what's in the best interest of the charity, and it's desperately sad the breakdown in relationship escalated to a lawsuit by the Chair against the charity, to block us from voting her out after our request for her resignation was rejected," the trustees said. "We could not in good conscience allow Sentebale to undertake that legal and financial burden and have been left with no other option but to vacate our positions."CBS News said the trustees asked Chandauka to resign because of "a change in Sentebale's mission." On Tuesday, the BBC also reported that financial issues led to tension at the organization.Harry and Seeiso announced their resignation in a joint statement "in support of and solidarity with the board of trustees.""It is devastating that the relationship between the charity's trustees and the chair of the board broke down beyond repair, creating an untenable situation," their statement said. "What's transpired is unthinkable. We are in shock that we have to do this, but we have a continued responsibility to Sentebale's beneficiaries, so we will be sharing all of our concerns with the Charity Commission as to how this came about.""Although we may no longer be Patrons, we will always be its founders, and we will never forget what this charity is capable of achieving when it is in the right care," the princes said. Prince Seeiso and Prince Harry in October 2024. Brian Otieno/Getty Images for Sentebale Chandauka said in a statement shared with People that she refused to step down at the board's request because "beneath all the victim narrative and fiction that has been syndicated to press is the story of a woman who dared to blow the whistle about issues of poor governance, weak executive management, abuse of power, bullying, harassment, misogyny, misogynoir and the coverup that ensued."Chandauka did not respond to a request for comment from BI.The New York Times also reported that Chandauka replaced the board with four new members following the resignations and filed a report against the former trustees with the Charity Commission, which regulates and registers charities in England and Wales, including Sentebale. Harry and Seeiso said in their statement that they also intended to file a report to the commission.When contacted by BI for this story on Tuesday, the Charity Commission said, "We can confirm that we are aware of concerns about the governance of Sentebale. We are assessing the issues to determine the appropriate regulatory steps."On Thursday, the Charity Commission announced it had opened a compliance case "to examine concerns raised about the charity Sentebale.""The regulator's focus, in line with its statutory remit, will be to determine whether the charity's current and former trustees, including its chair, have fulfilled their duties and responsibilities under charity law," the Charity Commission said. "The Commission is not an adjudicator or mediator and is guided by the principle of ensuring trustees fulfill their primary duty to their charitable purpose and beneficiaries."A source close to the trustees told BI that the board "fully expected this publicity stunt and reached their collective decision with this in mind. They remain firm in their resignation, for the good of the charity, and look forward to the adjudication of the truth."Then, last weekend, Chandauka accused Harry of "bullying" her by going public with Sentebale's problems.Sophie Chandauka said Prince Harry was 'bullying' herOn Sunday, Chandauka appeared on the Sky News program "Sunday Morning With Trevor Phillips" to discuss Sentebale, focusing on Harry in her interview even though Seeiso and the board members also resigned.Chandauka said in the interview that her relationship with the prince had largely been "fantastic" but accused him of "harassment and bullying." Specifically, she said he did not inform her of his decision to resign as patron before he and Seeiso released their statement publicly."At some point on Tuesday, Prince Harry authorized the release of a damaging piece of news to the outside world without informing me or my country directors or my executive director," she said. "Can you imagine what that attack has done for me, on me, and the 540 individuals in the Sentebale organizations and their family?" Sophie Chandauka and Prince Harry at a charity polo match in April 2024. Yaroslav Sabitov/PA Images via Getty Images "That is an example of harassment and bullying at scale," Chandauka said, adding that she believes Harry activated "the Sussex machine" to publicize Sentebale's issues.A source familiar with the events told BI that despite Chandauka's comments, Harry and Seeiso had sent their joint resignation letter to the trustees and the chair on March 10.In the same interview, Chandauka also said she had issues with Prince Harry since she became chair and believed he had been trying to oust her for months.She said his step back as a senior royal put Sentebale at financial risk and that his Netflix series about polo interfered with a Sentebale charity fundraiser, pointing to a venue change. However, a source close to the production said the show's involvement ultimately led to another player participating and Sentebale being featured in the docuseries.Chandauka also said Meghan Markle'sunexpected attendance became a problem at the match. Cameras filmed an awkward interaction between her and Meghan as they tried to fit onstage together during an awards ceremony, which led to negative press stories about Meghan. Chandauka told the Financial Times that Harry asked her to release a statement in support of his wife at the time, but she refused."I said no, we're not setting a precedent by which we become an extension of the Sussex PR machine," she told the outlet.As of Thursday, Chandauka remains chair of Sentebale's board.Recommended video
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  • Trump hit US trading partners with sweeping tariffs. Some countries are prepared to hit back.
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    Michael Nagle/Xinhua via Getty Images SAUL LOEB/AFP via Getty Images 2025-04-03T12:32:26Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? This post originally appeared in the Business Insider Today newsletter.You can sign up for Business Insider's daily newsletter here.Good morning. Ten major firms are under the spotlight as the Trump administration continues its consulting crackdown. BI has pored over the DOGE receipts and found one firm has taken the most heat so far: Deloitte.In today's big story, it's the morning after Trump's "Liberation Day" and some countries were hit harder than others. Some say they're prepared to hit back.What's on deckMarkets: Tesla's stock jumped after a report that Elon Musk could soon be out of the White House.Tech: One tool Google DeepMind uses to maintain an edge in the AI talent wars? Aggressive noncompete rules.Business: America's biggest businesses are bowing out of Pride parades.But first, who did Trump hit hardest?If this was forwarded to you, The big storyTrump's tariff blitz BRENDAN SMIALOWSKI/AFP via Getty Images President Donald Trump's far-ranging "Liberation Day" tariffs have been unveiled.They were so far-ranging that they hit a collection of remote Antarctic islands only inhabited by penguins, sea birds, and seals.The new tariffs involve a 10% levy on almost all imported goods, with higher levies on certain individual countries. Trump said the rates were "approximately half" of the tariffs that these countries impose on US goods.Here are some of the countries hit with the highest reciprocal tariffs:Cambodia: 49%Vietnam: 46%Sri Lanka: 44%Bangladesh: 37%Thailand: 36%China: 34%. This is on top of the existing 20% tariff on Chinese goods.There were two surprising omissions from Trump's announcement: Mexico and Canada (though previous tariffs of 25% remain in place). BI explained why.Wall Street, meanwhile, recoiled in after-hours trading. S&P 500 futures fell as much as 4%, while Nasdaq 100 futures tumbled more than 4.7%. Read the full global market reaction here.Trump's tariffs aim to boost US manufacturing in the long term. In the short term, Americans may have to pay higher prices for many goods, from clothing imported from Asia to wines shipped in from France.You might feel the effects in the grocery store, too, with Mark Cuban advising people to stock up on consumables now: "From toothpaste to soap, anything you can find storage space for, buy before they have to replenish inventory."It's a trade war and it's unlikely to be the end of it. Other countries are already saying they will retaliate.3 things in markets Elon Musk has reincorporated both Tesla and SpaceX away from Delaware. Samuel Corum/Getty Images 1. Tesla stock spiked to close 5% higher after a report Elon Musk could be out of the White House. Investors cheered the possibility of getting Tesla's CEO back following Politico's report.2. Bet on the US, one veteran analyst says. Ed Yardeni thinks US stocks could actually benefit from one of the worst-case scenarios of Trump's tariffs. He pointed to several reasons the US could regain its top-dog market status if a global recession is triggered.3. "Mini private equity" is having a moment. Entrepreneurial young people are flocking to search funds, which seek to buy and grow small businesses. It's popular among MBAs and young professionals looking for success in an insecure white-collar job market.3 things in tech Getty Images; Jenny Chang-Rodriguez/BI 1. Google DeepMind's weapon in the AI talent wars. The company uses aggressive noncompete agreements that last as long as a year for some UK staff, four former employees told BI. Essentially, Google would rather give some employees one year of paid vacation than have them work for a competitor.2. The twenty-somethings running Palantir's healthcare AI business. Four years ago, the $193 billion data giant launched its healthcare business with then-25-year-olds Jeremy David and Drew Goldstein at the helm. Now, David says healthcare makes up 15% of Palantir's revenue.3. Testifying in Meta's China probe. Lawmakers are investigating the company's dealings with China, which former executive Sarah Wynn-Williams described in her book. But her lawyer told BI that Meta's emergency arbitration ruling prevents her from talking to members of Congress.3 things in business A BYD Sealion 7 on display at an airport in Warsaw, Poland, in February 2025. Aleksander Kalka/NurPhoto/Getty Images 1. As Tesla struggles, BYD sales storm ahead. Tesla's Chinese rival had another spectacular quarter, with sales jumping 60%. It's the second successive quarter BYD has outsold Tesla, and a growing portion of its sales are coming from outside China.2. America's companies are over the rainbow. In the past, the complaint was often that LGBTQ+ Pride Month was too corporate. This year, Trump's anti-DEI stance and threats of retribution have businesses anxious and they're reacting accordingly.3. Bye-bye, bonus. Some Macy's executives will have to pay back over $600,000 after an accounting error inflated their bonuses. The retailer overstated earnings by $81 million in 2023, which influenced the high payouts executives received the next year.In other newsNewsmax plunges 77% after a blistering post-IPO rally.This chart shows how measles is spreading exponentially in the US.Val Kilmer was diagnosed with throat cancer over a decade ago, but it wasn't his cause of death.RH's CEO cursed on an earnings call after he realized the stock was tanking.'I begin spying for Deel': A Rippling employee details his days of corporate espionage in Ireland court filing.A voter sued Elon Musk, alleging the billionaire never paid up after promising cash for petition signatures.I was laid off from the federal government. Here's why I turned down an offer to go back to the job.No one knows how to define a 'podcast' anymore and it's becoming a problem.Playing Tetris can make you better at your job. Really.What's happening todayUS Secretary of State Marco Rubio arrives in Brussels for NATO talks.Big Screen Achievement Awards.The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York (on parental leave). Hallam Bullock, senior editor, in London. Nathan Rennolds, editor, in London. Grace Lett, editor, in Chicago. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Meghan Morris, deputy bureau chief, in Singapore. Ella Hopkins, associate editor, in London. Elizabeth Casolo, fellow, in Chicago.Recommended video
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  • 'Wicked: For Good' picks up where the Oscar-winning 'Wicked' left off. Here's everything we know about the film.
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    Cynthia Erivo as Elphaba and Ariana Grande as Glinda in "Wicked." Giles Keyte / Universal Pictures Updated 2025-04-03T12:46:24Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? The "Wicked" movie covers act one of the original musical's plot.The film is part of a two-part franchise, with the sequel set for release on November 21, 2025.Here's what we know about "Wicked: For Good," including the cast and potential plot.The first "Wicked" film is already as long as the Broadway original, but only covers half of the show's plot. The second movie, "Wicked: For Good," scheduled for November, 21, 2025 will complete the story."Wicked," the musical, is the second-highest-grossing Broadway show ever. The plot follows the origin story of Elphaba, the Wicked Witch of the West, a character from the 1939 movie, "The Wizard of Oz."The movie version of "Wicked" stars Ariana Grande, Cynthia Erivo, and Michelle Yeoh. Although recent cinema adaptions of stage musicals like "Cats" and Steven Spielberg's "West Side Story" haven't had box-office success, "Wicked" defied gravity and earned $744 million worldwide, per Box Office Mojo.Marc Platt, who produced the "Wicked" movie and stage production, said he initially intended for the story to be a film but changed his mind after speaking to Stephen Schwartz, who composed the music and lyrics for the stage musical. "I waited a very long time to make the movie," Platt said at the movie's London premiere where Business Insider was in attendance.Cynthia Erivo and Ariana Grande revealed the first 'Wicked: For Good' trailer at CinemaCon Cynthia Erivo and Ariana Grande presenting the "Wicked: For Good" trailer at CinemaCon in Las Vegas. Gilbert Flores/Variety via Getty Images On April 2, Erivo and Grande took to the stage at CinemaCon in Las Vegas to present the "Wicked: For Good" trailer, giving a glimpse of what to expect from the story after the cliffhanger of the first film.USA Today reported that the footage, which has not been released outside of CinemaCon, shows Fiyero (Jonathan Bailey) hunting Elphaba (Cynthia Erivo), who's on the run. Meanwhile, the green witch sows dissent against the Wizard (Jeff Goldblum) by writing "Our Wizard lies" in the skies above Oz.Glinda (Ariana Grande) and Fieryo are also seen getting married, and Elphaba leading a revolution with animals.There is also a shot of Dorothy, who is the focus of the original "The Wizard of Oz" story, but the footage does not show her face.Both parts of 'Wicked' were filmed at the same time Jeff Goldblum as the Wizard and Michelle Yeoh as Madame Morrible in "Wicked." Giles Keyte / Universal Pictures The cast, director, and crew have all shared reasons for splitting "Wicked" into two films.Both the film's director Jon Chu and its producer March Platt have said in interviews that they didn't want to cram or cut songs or characters to fit the story into one movie.Erivo told Entertainment Weekly in February 2024 that the split allowed more space to develop her character's friendship and rivalry with Glinda the Good Witch, played by Grande.A fan newsletter, "The Schwartz Scene," reported that the composer said there had to be a break after "Defying Gravity," the final song in the musical's first act."We found it very difficult to get past 'Defying Gravity' without a break," he said. "That song is written specifically to bring a curtain down, and whatever scene to follow it without a break just seemed hugely anti-climactic."In 2023, Schwartz told the now-defunct site, The Messenger, that the second part will include new original songs written for the film."The storytelling required it, and therefore they were createdthe intention was that they were organic and not imposed on the movie," he said.Both parts of "Wicked" were filmed simultaneously and all the stars from the first film will return in the sequel. This also makes it unlikely the sequel could be delayed by production issues and should arrive on schedule next November.'Wicked: For Good' will likely cover the second act of the Broadway musical Erivo and Grande reprise their roles in part two. Giles Keyte / Universal Pictures Spoilers ahead for "Wicked," the Broadway musical and the film.The sequel's title is named after the act two song "For Good," performed by Elphaba and Glinda.The first movie adapts the first act of the Broadway musical, explaining how Elphaba became the Wicked Witch.Though Elphaba grew up being bullied and mistreated for her green skin and magical powers, she is desperate to prove she is as valuable as anyone else.She and her younger sister Nessarose end up at Shiz University, a magical school in the world of Oz, but Elphaba is forced to share a room with a self-absorbed student called Glinda.The pair bicker until they become friends. At the same time, both women fall for Prince Fiyero Tiggular, and Elphaba learns that someone is trying to cage Oz's animals and stop them from speaking.Later in the film, Elphaba is invited to meet the ruler of The Wizard of Oz and brings along Galinda, who now goes by Glinda.They learn that the wizard is a con man and that he and Madame Morrible, a magic professor at Shiz, are behind the conspiracy against the talking animals.They want to use Elphaba's powers to help their plot because she is Oz's chosen one, not the Wizard she can read a special book of spells called the Grimmerie.But Elphaba steals the book instead and leaves Emerald City, leaving behind Glinda, who still believes in the Wizard.The second film will cover the second act, set a few years after the first. In this act, the story connects back to the plot of "The Wizard of Oz," which viewers might be more familiar with from the 1939 film.Glinda and Madame Morrible are part of the Wizard's administration, and Fiyero is head of a hunting squad for Elphaba.Nessarose has become a cruel governor of Munchkinland and earned the title of the Wicked Witch of the East.Elphaba, now known as the Wicked Witch of the West, tries to do good for the animals and people of Oz, but her magic and actions continue to harm her loved ones.When her sister is crushed and killed by Dorothy's house, she vows to become truly wicked. This establishes her character as the witch depicted in "The Wizard of Oz" book and film.There are no new characters in Act Two, except Dorothy, who is normally not played by a character onstage.Recommended video
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  • I was happily married for 11 years. Then, my husband joined the military.
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    Brittany Meng hugs her husband in military uniform. Courtesy of Brittany A. Meng 2025-04-03T10:13:02Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? I knew supporting my husband's military career would require sacrifice on my part.However, while he thrived in his military career, I felt like I was in constant survival mode.If I combine all the time he's been gone, I have parented our children solo for almost two years.When I became a military spouse after 11 years of marriage, I thought the hardest parts of the military lifestyle would be deployments, frequent moves, or solo parenting our five children.However, after eight years of being married to an active-duty military member, the hardest part has been figuring out how to mutually support each other's happiness.While he thrived in his new career as an Air Force officer, I crumbled under the demands of holding our household together, unrelenting loneliness, and lack of opportunity to pursue my goals and dreams.Before my husband joined the military, I earned my master's degree in English and became an adjunct instructor at a university, balancing motherhood while teaching writing and literature. I had always wanted to be a working mom and I took pride in my accomplishments and career.I knew supporting my husband's military career would require sacrifice on my part, but I had no idea how much this lifestyle would demand.My husband's career thrived while mine crumbledMoving four times in seven years, helping five children adjust to new locations and schools, and trying (sometimes unsuccessfully) to build a community for myself at each new duty station left little time for me to pursue a career or personal goals.I had ideas for books I wanted to write, but the mental load of the military lifestyle made me feel like I was constantly in survival mode, with little space left to devote to outside projects. I felt my ambitions slipping away and resentment filling its place.Meanwhile, I watched my husband rise to the top in every position he held. He won awards and was given the responsibilities of a higher-ranking officer because he was such an excellent leader.Being amazing at his job also meant he was chosen for special deployments and trips. If I combine all the time he's been away in the past eight years, I have parented our children solo for almost two years.My mind and heart were at war"I am so proud of you," I told him on a regular basis. "I love that you are able to use your mind and abilities to their fullest potential. And I am dying on the inside.""I know," he said. "I see how hard this is for you."His empathy and understanding soothed my heart, but it didn't fix how stuck I felt.After our first deployment in 2020, an international move, and a second deployment ending in 2023, my mental health was in a tenuous place, even with taking medication to support my depression and anxiety.I wondered if we were headed for divorceMy husband and I talked regularly about this, sometimes rationally, often emotionally.Sometimes we fought. Always, we tried to understand each other.He told me that our marriage and family were more important than his career goals and I wanted to believe him.However, the more the military demanded, the more fear began to creep in. I wondered if our marriage would survive.I knew that being a military spouse meant sacrifice, doing my part to support my husband as he fought for our country.As I became a shell of the person I once was, though, battling intense depression, anxiety, and loneliness, I realized that I also needed to fight for myself.Through each painful fight, each empathetic conversation, and each situation where we decided to seek the best for the other person, we realized that to be a successful military couple, we had to fight for each other.Sacrifice isn't just a requirement of a military spouseSometimes it takes sacrifice on both sides in order to make a relationship work. My husband realized that he had to fight for my happiness, too.He wanted to stay in the military, doing the work he loves, but I needed more stability. So, two years ago, he transferred to the Space Force.We are hopeful that this new branch will require fewer moves and deployments for our family.He also deferred a dream of going to special training that would require him to be away for six months until our family is more settled.When I had surgery recently, he told his leadership that taking care of me was his first priority, and he took time off.Earlier this year, when I came home from a five-hour interview as part of the application process for a master's degree in clinical mental health counseling, he had cooked a steak dinner, poured my favorite wine, and purchased fresh flowers to celebrate this next step in my life."I haven't even gotten in!" I said."I want you to know that I'm proud of you," he said and clinked his wine glass against mine.I got my acceptance letter a week later.I'm learning to trust that when he says our marriage and family are his first priority, he means it because his actions reveal his heart.While I'm preparing for him to be gone on future trips, he's been working on moving his GI Bill educational benefits to help fund my graduate school goals.We're still figuring out what it means to have a successful marriage while navigating military demands, but we're committed to making our partnership work so we can both thrive.Recommended video
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  • A 62-year-old dermatologist with barely any wrinkles shares what to do now for great skin at her age
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    Dr. Doris Day shared tips on how to have skin like hers at 62. Doris Day 2025-04-03T10:51:00Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Dr. Doris Day, a board-certified dermatologist, has barely any wrinkles at 62.She has had cosmetic treatments, but said that anyone can have youthful-looking skin.Day's tips include using an SPF cream every day and not smoking.The board-certified dermatologist Dr. Doris Day has 242,000 followers on Instagram and many of them are desperate to know how the 62-year-old has so few wrinkles and plump, smooth skin.Day, who is based in New York City and a professor of dermatology at NYU Langone Medical Center, told Business Insider that she can partly thank her genetics and access to a "variety of advanced treatments" for her youthful skin. For example, twice a year she gets neuromodulation injections (such as Botox) and Sofwave ultrasound treatments to tighten and lessen fine lines, various fillers once a year, and has had an upper eyelid lift.But healthy lifestyle choices and a consistent skincare routine can also play a big role, she said."Anyone can achieve and preserve beautiful, healthy skin throughout their life" with a "blend of consistent care, the right products and treatments, and a commitment to overall wellness," she said. Day has had cosmetic treatments but says that certain healthy habits can help anyone have youthful-looking skin. Daniel Tepper/Doris Day The key is to be consistent with healthy habits although "the skin is forgiving and recovers well if you're good most of the time," she said.Day shared the habits that she thinks people in their 20s and 30s should start following now to protect their skin as they age.Use an SPF every day"Sun protection every day, all year round, is key," Day said. "I always say nothing looks more beautiful in your 50s than sun protection in your 20s."She recommends people use sunscreen every morning, with an SPF of at least 30, to protect against UV damage. This should be reapplied every two hours when in the sun, including your neck, she said.BI previously reported on how to reapply SPF when wearing makeup.To shield her skin from UV rays, Day also tries to stay in the shade and wears a hat and clothing made of UV-resistant materials. Day wears a hat to protect her skin from the sun. Doris Day This is because sunscreens available in the US can protect against the more dangerous UVB rays, but aren't as effective against UVA rays that are linked to skin aging, according to the Skin Cancer Foundation.Clothing with UV protection can help to block both UVA and UVB rays, Dr. Heather Kornmehl, a board-certified dermatologist and skin cancer surgery fellow, previously told BI.Follow a simple skincare routineIt's a good idea to establish good habits in your 20s and 30s, such as taking makeup off at the end of the day and following a simple skincare routine, with hydration and sun protection as foundational elements, Day said.She recommended using a hydrating moisturizer and sunscreen, and antiaging products such as retinol and peptides can be included later down the line. Day recommends her patients get into the habit of following a simple skincare routine. Doris Day Day also recommended visiting a dermatologist for a general skin check-up and to review your skincare routine.Retinol is widely acknowledged to reduce the appearance of wrinkles and hyperpigmentation. Meanwhile, peptides, considered an alternative to retinol for more sensitive skin, have anti-inflammatory properties, can help skin maintain plumpness, and reduce sun spots, BI previously reported.Dr. Abby Waldman, a certified dermatologist and assistant professor of dermatology at Harvard University, previously shared a simple skincare routine for people in their 20s that incorporates these principles.Don't smoke and eat healthily Eating healthily and living a healthy lifestyle can help keep your skin looking youthful, Day said. Doris Day "Overall wellness" helps with skin health, in addition to specific products and skincare habits, Day said. She tries her best to sleep eight hours each night, do a mixture of cardio and strength training at least three times a week, and minimize the amount of processed food she eats.Specifically, she recommends not smoking and limiting alcohol consumption both of which, research shows, contribute to premature facial aging.Day co-authored a 2019 study involving over 3,200 women aged between 18 to 75 who hadn't used a retinol cream or had any anti-aging treatments, such as plastic surgery, Botox, or chemical peels.Those who smoked or had more than eight alcoholic drinks a week were found to have more noticeable wrinkles, puffier under-eyes, and deeper lines around the corners of their mouth than those who didn't smoke and drank less.Day said that drinking enough water, eating a balanced diet, and regular exercise can also slow skin aging.Recommended video
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  • I make a living on YouTube playing an anime character. Here's how I built my career and what my day is like.
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    Mint Fantme is a virtual influencer who streams for hours a day on YouTube. Maid Mint Fantome/YouTube 2025-04-03T08:34:02Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Mint Fantme is a virtual, anime-style influencer, with 347,000 YouTube subscribers.The virtual YouTuber, or VTuber for short, appears as a digital avatar online.The creator behind Mint took an untraditional pathway into the entertainment industry.This as-told-to essay is based on a conversation with the creator behind YouTuber Mint Fantme, a virtual influencer who appears as an anime character. Like other virtual YouTubers, the creator is anonymous online, but their identity is known to Business Insider. The conversation has been edited for length and clarity.I play a 19-year-old ghost online.My anime-style digital avatar goes by many names: Mint, Maid Mint, or Mint Fantme. I have 347,000 subscribers on YouTube where I livestream my avatar chatting, singing, and playing video games.This is my full-time career, and it has become all that I do. I'm part of a growing trend of virtual influencers, called VTubers. Like many others, my identity is anonymous.I recently joked with a friend that our jobs are like the TV show "Severance." The virtual characters we play online are like our "innies," which are the separate workplace identities of the show's characters.This character I created allows me to have a public persona online without fully sharing my personal self.I discovered virtual YouTubers several years ago. Many of those I followed were from a Japanese company called Cover Corporation, which owns one of the top VTuber agencies, Hololive.I found their content really fun to consume. Living in the US, it wasn't until Hololive put out auditions for English-speaking creatorsI auditioned, but I didn't get the role. However, through the audition process, I met some independent VTubers who inspired me. I realized you don't have to work with a huge corporation to do this work.When I started in 2020, I wanted my avatar to be completely separate from my normal self. I told no one, not even friends or family.Then, as I started to become more popular, some of my friends came across my videos and recognized my voice.I later told my mom. She still doesn't quite understand it. But she knows I've always loved Japanese culture and anime. She can't believe what she thought was a phase has evolved into my career.How I make money as a virtual influencerMost of my income comes from donations on YouTube. That's just out of people's generosity, and it's how I've been able to maintain this as a career. I also sell merchandise and promote brands through sponsorships.More and more, VTubers are infiltrating Western culture. For example, Hololive's VTubers collaborated with the Los Angeles Dodgers. I've seen other independent VTubers work with hockey teams and at other events where you maybe wouldn't expect to see an anime girl.I've performed at a couple oflive concerts, and I want to do more. At these shows, I'll dance and sing with other VTubers. Online, everybody is just a number and a username in the chat box. But with live events, I can feel a true connection.What an average day looks likeI typically try to stream for two to four hours a day on YouTube.Filming is simpler than people think. I use a phone, and there are programs like VTube Studio and VSeeFace that VTubers use to generate their avatars.I went to school for filmography, so I have some experience. But I also watch a lot of YouTube tutorials.When I first started, I streamed in my closet. It was a small walk-in closet with good sound insulation. Now, I have my own dedicated streaming room.When I'm not streaming, I create my own graphics and thumbnails. I scroll through X, where I'll post and check hashtags. I also take notes on my phone on ideas for livestreams or merchandise.It's hard for me to turn the switch off. Some creators can say they don't go online or on social media at certain times. I don't have strict boundaries like that.Instead, I log off from my job by browsing my personal Instagram and TikTok accounts, which are centered on my hobbies and interests, such as anime and Japanese culture.An alternative pathway to entertainmentThis passion for anime helped me break into the entertainment industry, which I consider virtual YouTubers part of. As in any aspect of entertainment, so much success is the luck of the draw.When I'm streaming, I'll see a number on the screen of how many people are watching. Maybe the number says 3,000, but I can't fully comprehend that 3,000 people are watching me. I know that they are people, and I know that their usernames represent a person. But even after all these years, I feel so ordinary. I don't feel like an influencer.The anonymity that comes with being a VTuber has been really great for me.I'm not a very public person. I'm very shy, and I have a lot of social anxieties. But chatting for hours a day online has really helped me come out of my comfort zone. I'm so grateful I get to do this job.Recommended video
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  • I stayed in $300-a-night hotels in Salt Lake City and Park City. One was more luxurious. The other was more convenient.
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    Park City may be Utah's central ski hub, but Salt Lake City offers luxury stays at a lower price.I visited the area along Utah's Wasatch Front for the first time in January 2025 and booked hotels in both towns that cost about $300 per night.I spent two nights in Salt Lake City's five-star Grand America Hotel and one night in the Sheraton Park City, a three-star Marriott hotel.My experiences at each hotel were so different that I couldn't believe they were roughly the same price.Park City has more luxury hotels and resorts than Salt Lake City and they typically cost more than double the price.Park City and Salt Lake City. Joey Hadden/Business Insider Home to two world-class ski resorts, Park City is a place where you can wake up and hit the slopes right away. Salt Lake City, however, is about a 40-minute drive from Park City and has fewer five-star hotels that typically come at a lower price point.Park City has eight five-star hotels listed onBooking.com, with an average nightly rate of $760. Four-star hotels cost roughly $660 per night, and three-star hotels cost $340 on average.Salt Lake City has only two five-star hotels listed on the same site the Grand America Hotel, where I stayed, and the Hyatt Regency. The accommodations here cost less than half the average per night, at about $150 for three-star hotels, $220 for four-star hotels, and $310 for five-star hotels.I spent my first two nights in Utah at the Grand America Hotel in Salt Lake City.The Grand America Hotel in Downtown Salt Lake City. Joey Hadden/Business Insider The Grand America Hotel was the first five-star hotel to open in Salt Lake City. It was built in 2001 for a specific reason to host the 2002 Olympic Committee."One of the stipulations to bring the Olympics here was to build a five-star hotel," a hotel representative told Business Insider.The hotel, known for hosting celebrities and professional athletes, was ranked among the 50 best hotels in the world by CN Traveler's 2024 Reader's Choice Awards.The Grand America Hotel stretches 24 floors on 10 acres in Downtown Salt Lake City. It has 775 rooms and four tiers of accommodation, with a starting rate of $300 per night during peak season (depending on hotel occupancy), the representative told BI. That rate gets you a 700-square-foot premier room that includes a lounging area, a marble bathroom, and a wall of windows.I stayed in the second-tier room, an 880-square-foot executive suite that cost $340 a night, though BI received a media rate for the two-night stay.Aside from the size, the rooms are quite similar.Then, I spent one night at the Sheraton Park City.The exterior of the Sheraton Park City. Joey Hadden/Business Insider Sheraton Park City is a premium Marriott hotel built in 1983. Before an upgrade in 2019, it was known as the Park City Marriott.The three-star hotel is about 10-minute drive from world-class ski resorts, Deer Valley and Park City Mountain, and the hotel has a shuttle service, making it a convenient stay for skiers.A hotel representative told BI that the hotel has 199 rooms and four tiers of accommodation, with a starting rate of $300 during peak season.I booked the lowest tier a guest room for about $300 for one night.The Grand America Hotel had a posh European feel.Inside the Grand America Hotel lobby. Joey Hadden/Business Insider The Grand America Hotel is drenched in old-world glitz and glam. With Italian marble floors, glass chandeliers, and antique decor in every direction, I felt like royalty as I stepped into the lobby.The Sheraton Park City had more of a southwestern mountain vibe.Inside the Sheraton Park City lobby. Joey Hadden/Business Insider The Sheraton Park City had a more modest feel. The lobby had an elevated cowboy-era look, with wood and leather furniture, a stone fireplace, and stacks of logs on the shelves surrounding it.My executive suite at the Grand America Hotel was 880 square feet and included a living room.The living room in the author's suite. Joey Hadden/Business Insider My executive suite at the Grand America Hotel had accents and decor that matched the upscale, European look of the rest of the hotel.The suite had a large living room with a lounge and desk.If I had booked the lower room tier for $300 a night, I would have had a smaller, sectioned-off seating area in addition to the bedroom.Sliding doors in the living room led to the bedroom.The bedroom in the executive suite. Joey Hadden/Business Insider The bedroom felt elegant with antique furniture, one of the coziest king-sized beds I've ever had the pleasure of sleeping on, thanks to a customized mattress, and a small balcony overlooking Salt Lake City.When I stay at hotels, I love waking up to a wide view of the destination I'm visiting because it gets me excited to start my day of exploring.My room at the Sheraton Park City was 350 square feet. Joey Hadden/Business Insider My room at the Sheraton Park City had two queen-sized beds across from a dresser and a small work desk. It looked more like a typical hotel room than my suite at the Grand America Hotel. The beds were comfortable, and I appreciated the local artwork on the walls.I didn't have a balcony, and my room's window faced another side of the building, but I imagine that rooms on higher floors offered better views.Although it was a bit plain compared to the Grand America Hotel room, my Sheraton Park City accommodation was clean, modern, and functional. It was certainly on par with other three-star hotels I've booked.A large walk-in closet led to the bathroom at the Grand America Hotel.The executive suite closet and bathroom. Joey Hadden/Business Insider The closet felt huge. Inside, I found terry cloth robes with matching slippers and amenities like an iron, steamer, safe, and extra linens.There was also a vanity on one side of the closet and two mirrored doors that led to the bathroom.If I had booked the lower-tier room, I would have had a smaller closet and bathroom, yet with all the same amenities as the executive suite.My room at the Sheraton Park City had a smaller closet in front of the bathroom.Inside the Sheraton Park City room. Joey Hadden/Business Insider On the way to the bathroom, there was a small closet. It had an iron and ironing board inside. Across from it, I appreciated the brightly lit sink and vanity.My bathroom at the Grand America Hotel was spacious and coated in marble.The bathtub and shower in the executive suite. Joey Hadden/Business Insider Handpicked Italian marble coated the floors, counters, and some of the walls in the executive suite bathroom.The bathroom had a soaking tub, a glass-walled shower on one side, and a toilet stall on the other. It was stocked with travel-sized toiletries.The lower-tier rooms' bathrooms are smaller, but they have the same decor and include a tub and separate shower.My bathroom was smaller at the Sheraton Park City, but the shower felt larger.The shower in the Sheraton Park City bathroom. Joey Hadden/Business Insider This bathroom was decent for a 3-star hotel. There was no tub, but the shower felt larger than the one in my Grand America suite.Inside, there were two shower heads and full-sized toiletries.The Grand America Hotel had indoor and outdoor pools.The indoor pool at the Grand America Hotel. Joey Hadden/Business Insider The indoor pool was in the 20,000-square-foot Grand Spa, which also has saunas and 18 service rooms. The outdoor pool was surrounded by trimmed trees in a courtyard.The Sheraton Park City had an indoor atrium pool.The pool in the Sheraton Park City courtyard atrium. Joey Hadden/Business Insider The pool area sat in a courtyard atrium in the middle of the hotel and had an indoor-outdoor feel. Although there was no spa at the Sheraton Park City, the pool area had a hot tub and a sauna.The Grand America Hotel was packed with amenities.Inside the spa lobby at the Grand America Hotel. Joey Hadden/Business Insider In addition to the spa, the Grand America Hotel had a fitness center, a European-style coffee shop and bistro, a strip of high-end boutique shops, multiple bars, 24 business venues, and a 35,000-square-foot courtyard with intricate landscaping.The Sheraton Park City had convenient amenities, too.Amenities at the Sheraton Park City. Joey Hadden/Business Insider With two restaurants, a coffee shop, a convenience store, a fitness center, a game room, a business center, and 11 event venues, the Sheraton Park City had plenty of amenities for a three-star establishment.After staying at both hotels, I realized I'd rather sacrifice convenience than luxury.The author enjoys her executive suite at the Grand America Hotel. Joey Hadden/Business Insider I thought the Sheraton Park City was worth the $300 price point. The three-star hotel would be perfect for a budget traveler who wants to wake up and hit the slopes right away.But the Grand America Hotel was just as luxurious as hotels that have cost me $1,000 a night or more in other cities.After a tiring day of winter sports, I imagine retiring to a lavish room for a warm bath before stretching out on a custom mattress would be worth the drive.
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  • I teach combat drone pilots to fight Russia. Here's why musicians and tailors make great operators.
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    Vladyslav Plak and his team run Drone Fight Club, a school that teaches Ukrainians how to fly drones in combat. Vladyslav Plak/Drone Fight Club 2025-04-03T04:57:41Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Vladyslav Plak's school uses a simulator and practice ranges to teach Ukrainians to fight with drones.Only a third of people who try the course actually succeed in becoming a drone pilot, he says.Playing music and sewing are two skills that often tell Plak that a candidate is the right fit.This as-told-to essay is based on a conversation with Vladyslav Plak, the CEO of Drone Fight Club, a Kyiv-based company that trains combat drone pilots for the Ukrainian military. The following has been edited for length and clarity.Not everyone can learn how to fly a drone to fight the Russians. But over the years of training pilots, I've figured out ways to tell if someone fits the role.Since Russia invaded my country in 2022, we've worked with thousands of Ukrainians at Drone Fight Club. Only a third of the candidates who come to us make it all the way to certification. We don't just train men; about 15% of our students are women.Our country's battle drone industry is still young. But we've already found that most people wanting to be combat drone pilots are not ready for the studying required. Our war environment changes quickly and is difficult to navigate, and we don't have enough time to work with people who are not completely suited for the job.It's like "Top Gun." Be the best, or get out. At the zero line, you don't get a second chance. You are either alive, or you get killed.Musicians make for great pilotsBeing a good combat drone pilot is more complicated than just quick reflexes. It is about being able to make the right decision at the snap of a finger.When we screen candidates, we tell them to watch two balls: one green and one red. Then, we tell them which ball to catch. If their reaction speed is slower than half a second, it is not fast enough. This is the top requirement for all pilots.Fine motor skills are also very important because the drone controls are sensitive. If one of our candidates works with a hammer in their day job, they may be good at big movements, but it may be hard for them to be a drone pilot.However, if they play the piano or a similar instrument, they will usually learn fast. Knowing how to play music is a strong sign you will be a successful drone pilot.To be good with music, your brain has to be wired to think ahead. You have to multitask and plan your next steps while you are already using your fingers for finer movements.When you know how to think ahead, your choices will be made with foresight. Those choices matter when you fly in battle. Basic courses at Drone Fight Club last a minimum of three weeks. Drone Fight Club Women who excel at sewing are also often great combat drone pilots. Here, it's the same. They need to think ahead to envision the bigger picture of what they want their clothing material to look like while simultaneously making decisions and using fine finger movements.Generally, our good combat drone pilots are also people who can focus on the task at hand. If your mind is jumping between everything you see, you will lose your concentration.From the simulator to the rangeAt Drone Fight Club, basic courses last a minimum of three weeks and have an exam each week. If you fail one exam, you are dropped from the class and advised to repeat the course.Lessons at our school are split between our simulator, theory lessons, and indoor and outdoor practice ranges.Our simulator, Drone Fight Simulator, is made to work with two pilots who can team up, and the scenarios are all based on the real missions that our guys fought.The same rules that we fight with on the front lines are put in our simulator. When the soldiers come back, they tell us exactly what happened, and we update the simulator with their battles. Drone Fight Club has developed one of several simulators used by Ukrainians to train their pilots for war. Drone Fight Club Just like with learning to fly a plane, you go through a pre-mission checklist, with things like checking the propellers and the data link. On the battlefield, if you forget one of these things, your mission can be a total failure.After using the simulator, students also go onto our target ranges. Each is in Ukraine and is up to four kilometers (2.5 miles) long.Our space is limited because of the war, but it's important that the range is large. In the war, our enemy can be 20 kilometers away. To effectively send a drone into combat, you have to understand what it means to fly long distances over different terrain, in different weather, and with jammers affecting your drone.When this war ends, we might start to help outside nations and militaries with their drones. We will be glad to help friendly nations defend themselves.It's not a matter of whether the war will end, but when it will end. I believe that this war must stop soon. It is costing too many lives.Recommended video
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  • Ray Dalio says tariffs have an important consequence: They can prepare the US for a great conflict or war
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    Dalio, the founder of Bridgewater Associates, has long said that he believes the world is moving toward great power conflict. Dia Dipasupil/Getty Images 2025-04-03T04:59:49Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Tariffs can help the US prepare for conflict since they can lower foreign reliance, Ray Dalio says.Dalio wrote on Wednesday that such taxes are "necessary" in times of an international power struggle.The billionaire has regularly said he thinks the world is moving into a time of a high risk of war.Investing mogul Ray Dalio said tariffs aren't just a matter of tax revenue they're also a way for countries to prepare their economies for times of conflict and war.As the Trump administration announced reciprocal tariffs on China, the European Union, and dozens of other regions on Wednesday, Dalio wrote in a LinkedIn post that import taxes were "necessary in times of an international great power conflict."The billionaire's reason? They tend to lower reliance on foreign supply chains.Dalio, who founded the hedge fund Bridgewater Associates, wrote that the tariffs "can reduce both current account and capital account imbalances.""Which, in plain English, means reducing the dependencies on foreign production and foreign capital, which is especially valued in times of global geopolitical conflicts or wars," the billionaire added.He wrote that this makes local companies less efficient because global supply chains are stifled but more survivable as long as domestic consumers can still buy enough of their goods.Dalio's post wasn't specifically dissecting the Trump administration's tariffs, so he's not necessarily saying that the White House introduced these taxes in expectation of war.Rather, he wrote about tariffs in general, highlighting their typical effects and the potential motivations for governments to introduce such measures.For example, the billionaire wrote that tariffs tend to bring inflation to the countries that introduce them and stagflation to the world.But Dalio's point about a potential "international great power conflict" aligns with the billionaire's regular warnings that the world is moving toward a period of great strife and a high risk of war.The billionaire published a book about this belief in 2021, in which he predicted that US-China competition would bring fundamental, messy changes to how the world is run.Either way, US debt must be tackled, Dalio saysIn his post on Wednesday about tariffs, Dalio recalled another of his usual points about the state of the world: He believes the US government's debt crisis must be solved. The federal debt-to-GDP ratio is about 120%."The production, trade, and capital imbalances (most importantly the debts) must come down one way or another, because they are dangerously unsustainable for monetary, economic, and geopolitical reasons," he wrote.Dalio warned in February that debt would cause a "heart attack" for the US financial system if left to accumulate."You're in a high risk of this heart attack, essentially, and now what are you going to do about it?" he said.He said at the time that while Elon Musk's Department of Government Efficiency would seek to slash the government budget, those efforts alone wouldn't be enough to fix the debt crisis.Bridgewater Associates and Principles, Dalio's book brand, did not respond to comment requests for Dalio sent outside regular business hours by Business Insider.Recommended video
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  • Celebrities are paying tribute to 'Top Gun' star Val Kilmer after his death: 'Thank you for defining so many of the movies of my childhood'
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    Celebrities are paying tribute to Val Kilmer after he died at age 65 on Tuesday.His daughter confirmed to The New York Times that pneumonia was the cause of the actor's death.Kilmer was previously diagnosed with throat cancer in 2014 but recovered. However, due to a tracheostomy, his voice was permanently damaged.He was known for his roles in 1986's "Top Gun," 1991's "The Doors," and 1995's "Batman Forever."Following the news of Kilmer's death, friends and fellow celebrities shared their reactions on social media.Francis Ford Coppola said Kilmer was "a joy to know"Francis Ford Coppola worked with Kilmer on 2011's horror film "Twixt.""Val Kilmer was the most talented actor when in his High School, and that talent only grew greater throughout his life. He was a wonderful person to work with and a joy to know I will always remember him," the filmmaker wrote on Instagram.Cher paid tribute to Kilmer, whom she dated in the '80s Cher and Kilmer briefly dated in the '80s. William Nation/Sygma via Getty Images "VALUS Will miss u,U Were Funny,crazy,pain in the ass,GREAT FRIEND,kidsU, BRILLIANT as Mark Twain, BRAVE here during ur sickness," the "Believe" singer wrote in a post on X, using her nickname for the actor. In 2021, she told People that Kilmer and she had nicknames for each other."We called ourselves Sid and Ethel. Val didn't want to yell 'Cher' and I didn't want to yell 'Val,'" Cher said. "We also called ourselves Valus Maximus and Cherus Reprimandus. It was just kind of who I was in the household. Of course, he was Maximus, come on."Michael Douglas shared a photo of himself and Kilmer from 1996's "The Ghost and the Darkness""RIP Val Kilmer. It was an honor working with Val on The Ghost and the Darkness nearly 30 years ago. Val will be greatly missed, but his legacy will live on forever in the films and performances he so brilliantly shared with us," Michael Douglas wrote in his Instagram caption accompanying the photo.Josh Brolin shared a heartfelt message to KilmerActor Josh Brolin, who portrays Thanos in the Marvel Cinematic Universe, shared a heartfelt message to Kilmer on Instagram."See ya, pal. I'm going to miss you. You were a smart, challenging, brave, uber-creative firecracker. There's not a lot left of those. I hope to see you up there in the heavens when I eventually get there. Until then, amazing memories, lovely thoughts," Brolin wrote in his caption.Michael Mann posted a throwback photo of Kilmer"While working with Val on 'Heat' I always marvelled at the range, the brilliant variability within the powerful current of Val's possessing and expressing character. After so many years of Val battling disease and maintaining his spirit, this is tremendously sad news," filmmaker Michael Mann wrote in his caption.Mann worked with Kilmer in 1995's crime drama film "Heat," which also starred Robert DeNiro and Al Pacino.Michelle Monaghan shared a photo of herself and Kilmer, whom she worked with on "Kiss Kiss Bang Bang""A kind, curious, committed, rebellious, and radical gent. I learned from one of the greats. An artist through and through. I treasured my time with you," The "White Lotus" star wrote in her caption. "Godspeed buddy."Josh Gad thanked Kilmer for being a part of many movies from his childhoodJosh Gad, best known for voicing Olaf in Disney's "Frozen" franchise and for playing Elder Arnold Cunningham in the Broadway musical "The Book of Mormon," shared a tribute to Kilmer on Instagram along with a photo of the "Top Gun" star."RIP Val Kilmer. Thank you for defining so many of the movies of my childhood. You truly were an icon," Gad wrote in his caption.Matthew Modine shared an anecdote about meeting Val Kilmer in 1985"RIP Val Kilmer. If it wasn't for our chance encounter at the Source in 1985, I may never have been cast in FULL METAL JACKET. Thanks, Val," Matthew Modine, who also starred in "Stranger Things," wrote on X.Accompanying Modine's post was a video telling how his bumping into Kilmer in a restaurant on Sunset Boulevard set off a chain of events that eventually culminated in him getting cast in Stanley Kubrick's "Full Metal Jacket."Guns N' Roses guitarist Slash posted a photo of Kilmer from the film "Tombstone"In the 1993 film, Kilmer plays the American outlaw Doc Holliday."RIP #ValKilmer," Slash wrote in his caption.
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  • Mark Cuban suggests filling all your storage space with 'lots of consumables' from big box stores after Trump's tariff announcement
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    "Shark Tank" star Mark Cuban said retailers like Walmart "will jack up the price" on their goods and "blame it on tariffs." Megan Briggs/Getty Images 2025-04-03T04:01:01Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? President Donald Trump announced reciprocal tariffs on over 180 countries."Shark Tank" star Mark Cuban said people should "buy lots of consumables" now before prices go up.Cuban said retailers will raise prices and "blame it on tariffs" even if their goods are US made.Mark Cuban has a suggestion for Americans: "Buy lots of consumables now."Cuban made a post on Bluesky on Wednesday shortly after President Donald Trump announced sweeping tariffs that would hit more than 180 countries:"It's not a bad idea to go to the local Walmart or big box retailer and buy lots of consumables now. From toothpaste to soap, anything you can find storage space for, buy before they have to replenish inventory," Cuban wrote."Even if it's made in the USA, they will jack up the price and blame it on tariffs," Cuban added.Cuban declined to comment further when approached by Business Insider.On Wednesday, Trump announced reciprocal tariffs on all countries that have imposed tariffs on US goods. The tariffs, which Trump said will start at a baseline rate of 10%, will affect 185 countries."April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again," Trump said.While companies might absorb some of the cost increases from tariffs, American consumers are likely to see higher prices on items like cars and groceries.Last month, Federal Reserve Chair Jerome Powell told reporters that "a good part" of the Fed's rising inflation forecast stems from Trump's tariff plans.Experts BI spoke to, however, said Cuban's concerns that tariffs would raise prices are valid but panic buying may hurt supply chains and cause prices to go up, too."Just as I said during COVID, no one should be panic-buying toilet paper and Clorox, and no one should be doing that now," Margaret Kidd, an associate professor of supply chain and logistics technology at the University of Houston, told BI.Kidd said consumers need to be "conservative with our resources" since price increases are "happening across the board.""We don't know how this is going to play out," Kidd said.Chris Tang, a UCLA professor and expert in global supply chain management, told BI that Cuban's suggestion could result in "bigger problems.""This kind of shift in demand would actually exacerbate this price increase. If the demand is more stable, then the price is more stable. If everyone starts stocking up toothpaste and toilet paper, the prices go higher," Tang said.To be sure, this isn't the first time Cuban has been critical of Trump's tariff policies. The "Shark Tank" star endorsed Vice President Kamala Harris during her presidential campaign last year, calling her a "pro-business" candidate.In September, Trump said he would impose a 200% tariff on John Deere if the agriculture equipment company moved its manufacturing to Mexico."This Lack of Understanding of Business is insane," Cuban wrote in an X post then.Imposing higher tariffs on American companies than their Chinese counterparts meant that "Chinese products will be cheaper to sell in the US than the American company," Cuban added."Good way to destroy a legendary American company and increase costs to American buyers," Cuban wrote.The White House did not respond to a request for comment from BI.Recommended video
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  • Take a look inside Air Force Two, the 155-foot custom jet plane vice presidents use to travel the world
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    For vice presidents of the United States, frequent travel is in the job description. Luckily, they get to travel in style.While traversing the country and the world, Vice President JD Vance flies in a custom C-32 plane featuring an advanced communications center, conference room, and private stateroom.The plane measures 155 feet long and can fly 5,500 nautical miles without refueling. When Vance is on board, it's known as "Air Force Two."Take a look inside the vice president's plane.Any Air Force plane carrying the US vice president is called "Air Force Two."Air Force Two. BERTRAND GUAY/AFP via Getty Images Similar to the president aboard "Air Force One," the designation of "Air Force Two" refers to any Air Force plane carrying the vice president, not a specific jet or model.Over the years, several different planes have carried the Air Force Two title, transporting vice presidents and their staff around the world. The most commonly used jet is a C-32, a customized military version of a commercial Boeing 757-200 plane.The vice president is generally prohibited from flying on "Air Force One," a plane carrying the president.Vice President JD Vance on Air Force Two. Ben Curtis/POOL/AFP/Getty Images The president and vice president don't travel together for security reasons.It's customary for presidents and vice presidents to salute service members as they board and disembark presidential planes.Kamala Harris saluted service members while disembarking Air Force Two. Official White House Photo by Lawrence Jackson Service members are required to salute the president as commander in chief, but not the vice president. Still, it's customary for troops to salute vice presidents, as well.Richard Nixon was the first vice president to travel internationally via jet on official business, visiting what was then the USSR in 1959.Richard Nixon on Air Force Two. Thomas J O'Halloran/US News & World Report Collection/PhotoQuest/Getty Images Nixon, who served as President Dwight D. Eisenhower's vice president, flew on a Boeing VC-137A Stratoliner to visit the USSR in 1959.Beginning with the Ford administration in 1975, this DC-9 jet flew as Air Force Two until 2005.A retired DC-9 that was part of the Ppresidential fleet. Matt York/AP The jet was first used by President Gerald Ford's vice president, Nelson Rockefeller.It featured a VIP cabin with 10 seats and a main cabin with 32 first-class seats.A retired Air Force Two plane. Matt York/AP The plane was retired from service during the Bush administration in 2005 and placed up for auction by the General Services Administration in 2013.Vice President Al Gore decorated the VIP cabin with family photos.Al Gore and Tipper Gore on Air Force Two. LUKE FRAZZA/AFP via Getty Images Gore worked on his acceptance speech for the 2000 Democratic National Convention aboard Air Force Two.The cabin also featured a clock with different time zone displays.A clock inside the retired DC-9 that served as Air Force Two. Matt York/AP The clock featured the time in Washington, DC, and whatever destination Air Force Two was bound for.The updated C-32 plane most commonly used by vice presidents first deployed in 1998.Air Force Two. IAN LANGSDON/AFP via Getty Images With a wingspan of nearly 125 feet, each engine features 41,700 pounds of static thrust, according to the Air Force.As vice president, Joe Biden hung a map of the world in his Air Force Two work area.Joe Biden on Air Force Two. Charles Ommanney/Edit by Getty Images Biden traveled over one million miles on Air Force Two during his time as vice president.Mike Pence's staff decorated Air Force Two for his birthday in 2017.Mike Pence celebrated his birthday on Air Force Two. @VP45/Twitter Staffers celebrated the vice president's birthday with streamers and balloons aboard the jet.Kamala Harris also celebrated birthdays on the plane.Kamala Harris celebrated a staffer's birthday on Air Force Two. Official White House Photo by Lawrence Jackson Harris brought cupcakes and sang "Happy Birthday" to her domestic policy advisor, Kate Childs Graham, in 2021.Second gentleman Doug Emhoff traveled aboard Air Force Two, as well.Doug Emhoff on Air Force Two. Official White House Photo by Lawrence Jackson Air Force Two is occasionally used by the first lady and Cabinet members.Emhoff filled out his March Madness basketball bracket en route to Las Vegas in March 2021.The back of Air Force Two contains 32 business-class seats for members of the press.Kamala Harris addressed members of the press on Air Force Two. RONDA CHURCHILL/AFP via Getty Images Vice presidents and staff occasionally hold informal briefings with reporters known as "press gaggles" aboard Air Force Two.The press area features TV screens that can play cable news.Kamala Harris on Air Force Two. Kent Nishimura / Los Angeles Times via Getty Images The rear cabin also contains a galley, two bathrooms, and closets.Vice President JD Vance has taken several international trips on Air Force Two, including to France, Germany, and Greenland.JD Vance disembarked from Air Force Two in France with his wife, Usha Vance, and their three children. IAN LANGSDON/AFP via Getty Images In February, Vance visited France and Germany with his wife, Usha Vance, and their three children. Vance attended the Artificial Intelligence Action Summit in Paris and the Munich Security Conference.In March, the vice president and second lady toured Pituffik Space Base, the only US military base in Greenland. Usha Vance was originally scheduled to visit historical sites and attend Greenland's national dogsled race on a solo trip. The visit was scaled back amid tensions between the US, Greenland, and Denmark as President Donald Trump doubled down on his longtime goal of acquiring Greenland, an autonomous Danish territory, in the interest of national security.
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  • Why Canada and Mexico are missing from Trump's tariff chart
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    Mexico and Canada were spared from Donald Trump's latest round of tariffs, but according to the White House, that doesn't mean the US' neighbors are off scot-free. WhiteHouse.gov 2025-04-03T02:02:24Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? President Donald Trump on Wednesday announced sweeping tariffs on imports of goods from around the globe.Two countries, Canada and Mexico, were notably spared from the latest round of tariffs.However, the two neighboring nations are still subject to pre-existing 25% tariffs.President Donald Trump's latest round of tariffs had two surprising omissions: Mexico and Canada.Many countries, including China, were slapped with large reciprocal tariffs on Wednesday. After Trump's announcement, CNBC reported that Chinese goods could receive a 54% tariff when combining the new tariffs (34%) with ones that have been previously announced. European Union goods will be subject to a new 20% tariff.According to the White House, this doesn't mean the US's neighbors are off scot-free. Pre-existing 25% tariffs on most Mexican and Canadian goods will remain.USMCA and Trump's previous tariffsUnder Trump's previous order, a 25% tariff was applied to all Mexican and Canadian goods that are not compliant with the United States-Mexico-Canada Agreement.The White House has said the tariffs are necessary because the two countries are not doing enough to stop illegal immigration and the smuggling of fentanyl into the United States from the northern and southern borders. Leaders of both countries have disputed this claim.The USMCA trade deal, which replaced the North American Free Trade Agreement in 2020, maintains NAFTA's zero-tariff treatment for most agricultural products, textiles, apparel, and other goods that meet the trade agreement's rules of origin.Non-compliant energy and potash from the bordering nations remain subject to a 10% tariff; the latter was viewed as the White House bowing to pressure from the farm industry worried about a key ingredient in fertilizers.Chris Tang, a UCLA professor and expert in global supply chain management and the impact of regulatory policies, told Business Insider the Trump administration's choice to leave Canada and Mexico off the tariffs list on Wednesday may be a symbol that the president recognizes the neighboring nations' significance to the US economy but it's also likely a negotiation tactic."So, for example, right now, the products that comply with the USMCA are still tariff-free," Tang said. "But that's temporary. Trump has said, 'Well, that may adjust.' And that gives him still some wiggle room to negotiate."If Trump's prior order were terminated, a spokesperson for the White House told Business Insider all non-USMCA compliant goods would be reduced to a 12% tariff.Margaret Kidd, an instructional associate professor of supply chain and logistics technology at the University of Houston, told Business Insider, "It's not in our best interest for the United States to alienate our two closest trading partners."She added that there was about $945 billion in trade between Mexico and the US in 2024, with most of the products exchanged flowing through Texas. The tariffs on the southern country, she said, have an outsized effect on the border states, which rely on the local economy built around international trade."It's all intermingled," Kidd said.Tang said he's hopeful that the omission of Canada and Mexico from Wednesday's tariffs could act as a sort of olive branch with the nation's allies to soothe the trade tensions that have increased since Trump took office."Really, our economies are interlinked," Tang said. "So, hopefully, they can really sit down and work it out because these are our allies, our neighbors this is very important. So I hope there is a possibility that these three countries can work together."Recommended video
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  • These 4 GOP senators voted to block Trump's Canada tariffs right after his 'Liberation Day' announcement
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    Sens. Rand Paul of Kentucky and Susan Collins of Maine were among the Republicans who voted for a resolution that would block Trump's tariffs on Canada. Tom Williams/CQ-Roll Call via Getty Images 2025-04-02T23:43:36Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? The Senate voted to block Trump's Canada tariffs right after his "Liberation Day" tariff event.It's a largely symbolic vote, and Trump's tariff power won't be restricted.Still, it's an embarrassment that Trump tried to avoid.Just hours after President Donald Trump unveiled a host of new tariffs, the GOP-controlled Senate voted to block a major part of his trade agenda.The Senate passed a resolution to terminate the national emergency that Trump declared on February 1 that enables him to enact tariffs on Canada. The bill is not expected to be taken up by the House, so Trump's ability to impose tariffs on Canada won't be affected.Still, it's an unwelcome symbolic rebuke of the president's trade agenda, coming on what he had dubbed "Liberation Day."It was a 51-48 vote, with every Democratic senator voting for the bill, along with four Republicans:Sen. Susan Collins of MaineSen. Mitch McConnell of KentuckySen. Lisa Murkowski of AlaskaSen. Rand Paul of KentuckyRepublican Sen. Roger Marshall of Kansas was not present for the vote.Paul, a libertarian Republican who's consistently spoken up in support of free trade, even co-sponsored the resolution, which was introduced by Democratic Sen. Tim Kaine of Virginia."Tariffs on Canada will threaten us with a recession," Paul told reporters on Wednesday. "I mean, it's a terrible, terrible idea."Collins, who faces a competitive reelection fight in 2026, cited her state's reliance on trade with Canada in a floor speech earlier on Wednesday."The Maine economy is integrated with Canada, our most important trading partner," Collins said. "The tariffs on Canada would be detrimental to many Maine families and our local economies."While Murkowski isn't up for reelection next year, her state is also reliant on trade with Canada, and she hasn't been shy about criticizing Trump and his administration. McConnell, the former Senate GOP leader, has also been critical of Trump's tariff plans.Earlier on Wednesday, Trump announced a 10% baseline tariff on imports from all foreign countries, plus higher reciprocal tariffs on a long list of other countries and a 25% tariff on foreign auto imports.Trump did not announce new tariffs on Mexico or Canada, and the White House said that there will continue to be no tariff on goods that comply with the United States-Mexico-Canada Agreement.At a press conference on Tuesday, Kaine and other Democratic senators said that tariffs on Canada specifically didn't make sense, given the country's longtime alliance with the United States."The President has justified the imposition of these tariffs on, in my view, a made-up emergency," Kaine said. "The fentanyl emergency is from Mexico and China. It's not from Canada."In an early morning Truth Social post on Wednesday, Trump said that he hoped that the GOP senators who planned to vote for the anti-tariff resolution would "get on the Republican bandwagon, for a change.""They are playing with the lives of the American people, and right into the hands of the Radical Left Democrats and Drug Cartels," Trump wrote. "The Senate Bill is just a ploy of the Dems to show and expose the weakness of certain Republicans."That argument may have won over some Republicans who are otherwise suspicious of tariffs, such as Sen. Ron Johnson of Wisconsin."I'm not going to support their attempt to damage Trump," Johnson told reporters.When asked about Trump's argument, Paul was undeterred."I would argue that tariffs, particularly that leads to a recession, are devastating politically," Paul said.Recommended video
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  • I sent hundreds of cold emails to find a US VC firm that would hire me as an immigrant. I'm glad I ended up at a small company.
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    Tejas Vijh moved to the US in 2022 to grow his career in venture capital. Tejas Vijh 2025-04-03T00:00:02Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Tejas Vijh navigated visa challenges to secure a venture capital role in the US.Visa sponsorship is rare in venture capital, and many international students stick to Big Tech.He feels more secure about his job at a small firm than his peers at Big Tech companies.This as-told-to essay is based on a conversation with Tejas Vijh, an employee at a venture capital firm based in Indianapolis, Indiana. It has been edited for length and clarity. Business Insider has verified his employment and visa history.After I completed my bachelor's in computer science in India, a series of internships and connections led me to a role at a very early-stage venture capital firm. I loved the job and the research it involved.Seven months into working at the firm, I wanted the exposure of living and working abroad. I got into a business analytics master's program at Columbia University and moved to New York City in 2022.Right off the bat, I figured out that venture was not a typical career path for international students, including MBA and business majors, for one main reason: visa sponsorship issues. I interned at two places in the summer, and both said they wouldn't be able to sponsor my long-term visa, even though they liked my performance.When I started researching the job market after graduation, I could not find a single person in the industry who was an immigrant, which was really demotivating. But I was convinced that I wanted to work in healthcare or climate tech and decided to keep going.As a Science-Technology-Engineering-Math graduate, I am allowed a three-year work permit called the Optional Practical Training visa. It's seen as a pathway to securing an H-1B a visa for highly skilled foreign workers.500 cold emailsUsingMany firms replied to me even though they weren't hiring, and I met people for coffee and built connections.I started getting some interviews by my 200th email.By my 500th email, I had two offers one from a larger firm that told me they could not sponsor my H-1B but that I could join them for my three years of OPT, and another from my current firm, where our managing partner took time to understand my visa requirements and the support I would need from them. I told him how I'm loyal and I will stay where I go. My firm has three partners, and I'm the only employee.The advantages of a small companyI did not get my H-1B visa last year, but my visa was selected as part of this year's lottery last week. My firm has also been supportive and has helped me explore alternative routes like the O-1 visa or the EV-1, which are visas for extraordinary talents in the event my H-1B did not come through.Some of the recent changes around H-1B also give me a lot of hope, since they are focused on making the process fairer. The US immigration authorities have reported fewer entries into the lottery this year compared to 2024. Elon Musk, who is working with President Donald Trump's administration, has also publicly supported the H-1B program.I'm grateful I decided to join a small company over a Big Tech company, where a lot of my classmates from my master's and family members work. Large companies are traditionally seen as more stable and a safer bet for visa holders, but as layoffs sweep the tech industry, this mindset is changing. I have family members who are always on edge about when they may lose their jobs and be forced to quickly pack up and leave the US because their stay depends on their employment.I believe my partners will honestly give me a heads-up if we need to cut employees. The firm is also heavily involved in helping me find alternative visas, whichRecommended video
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  • Trump unveils his double-digit 'Liberation Day' reciprocal tariffs on China, Taiwan, and a slew of other key trading partners
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    Brendan SMIALOWSKI / AFP 2025-04-02T21:00:48Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Trump announced a range of new tariffs on April 2, his so-called "Liberation Day."He signed an executive order to impose reciprocal tariffs and a 25% tariff on car imports.Some economists warned that uncertainty around the tariffs could strain consumers and businesses.President Donald Trump's highly-anticipated new round of tariffs is here, and it could mean increased prices on a range of goods Americans rely on.On Wednesday, Trump signed an executive order announcing reciprocal tariffs on all countries that have placed tariffs on US goods. These tariffs fall on Trump's so-called "Liberation Day," which the president has been touting for weeks as the day when his expansive trade plan would drop."April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again," Trump said during Wednesday remarks.The motivation for the reciprocal tariffs: "They do it to us, and we do it to them," Trump said. "Very simple. Can't get any simpler than that." He added that all of the tariffs would have a baseline 10% tariff rate.Trump said during his remarks that he would charge countries "approximately half" of what those countries have been charging the US. Trump said that would amount to a 32% tariff on goods from China, 20% tariff for the European Union, 32% tariff for Taiwan, and 26% tariff for India.Trump also announced a 25% tariff on all car imports into the US. He did not mention any new tariffs on Canada or Mexico during his remarks.In the weeks leading up to April 2, Trump signaled a range of tariffs he was planning to implement. They included a 25% tariff on goods from Canada and Mexico, a 25% tariff on all car and car part imports into the US, tariffs on agricultural goods, and reciprocal tariffs on all countries that have placed tariffs on US goods. A 25% tariff on steel and aluminum imports is already in effect.The reciprocal tariffs are the broadest category, and Trump previously indicated that there would be "flexibility" in terms of the scope of the tariffs he would end up imposing on those countries.These tariffs are likely to increase prices on impacted goods, and while some companies might choose to absorb some of the costs, consumers are set to shoulder most of the burden.Ahead of Trump's tariff announcement, the White House wrote in a press release on Wednesday morning that tariffs will "level the playing field for American workers and businesses." However, markets and consumers have already been feeling financial strains due to the ongoing uncertainty with Trump's trade plans."When the president doesn't have a clear strategy or direction, it is extremely difficult for businesses in particular and consumers as well, to plan for the future, and that's why you're seeing so much uncertainty in the consumer market right now and so much uncertainty in the business community," Alex Jacquez, an advisor on the National Economic Council under former President Joe Biden, told reporters on a Tuesday press call.The US is likely to see retaliatory tariffs from impacted countries following Trump's announcement. Canada's Justin Trudeau previously said he would place tariffs on American goods until Trump's tariffs were withdrawn.The United Auto Workers union previously lauded the president's plan to place a 25% tariff on all cars and car parts imported into the US, saying it would bring more jobs back into the US auto industry."These tariffs are a major step in the right direction for autoworkers and blue-collar communities across the country," UAW President Shawn Fain said in a statement.Recommended video
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  • Meghan Markle silences critics after As Ever sells out in an hour
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    Meghan Markle in September 2023. Rolf Vennenbernd/picture alliance via Getty Images 2025-04-02T22:11:01Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Meghan Markle's first As Ever collection sold out within an hour of its launch.The Duchess of Sussex's show "With Love, Meghan" was also a hit when it was released in March.Despite vocal criticism, Meghan's pivot to lifestyle is off to a good start.Meghan Markle just dropped her first lifestyle collection and it's already sold out.After months of anticipation, the Duchess of Sussex's lifestyle venture As Ever officially launched on Wednesday. The brand's entire collection sold out within an hour of it dropping online.As Ever's triumphant launch follows the successful debut of the duchess' Netflix series "With Love, Meghan," which was a hit with viewers despite widespread criticism from the media and some fans who called the show boring and out of touch.Despite that, Meghan is proving her bet on her lifestyle career was worth taking.Entering the lifestyle spaceBoth "With Love, Meghan" and As Ever were met with plenty of criticism. Outlets published dozens of negative articles about the series when it was released, lamenting its lack of relatability for the average viewer and criticizing Meghan's hosting tips as unnecessary.However, that criticism seemed detached from the show's successful reality. "With Love, Meghan" hit Netflix's top 10 list the week it premiered and amassed over 2.6 million views, according toThe New York Times. Netflix also already announced thatseason two of the show will premiere in the fall of 2025. Meghan Markle on "With Love, Meghan." Netflix As Ever is on a similar path. When it was first announced, naysayers questioned Meghan's product line, saying items like flower petal sprinkles were gratuitous or assuming she would overcharge for her products. Others questioned whether Meghan had a clear vision for the brand since she changed its name from American Riviera Orchard to As Ever, despite the swap being largely due to a trademark issue.Lo and behold, it seems the Duchess of Sussex and Netflix, her business partner in the brand did have a clear vision for As Ever. As Ever blends the type of California luxury you might associate with Gwyneth Paltrow's Goop or Martha Stewart with royal elegance, creating a glossy feel that clearly appeals to buyers.Stacy Jones, the founder and CEO of Hollywood Branded, told Business Insider Meghan and Netflix are creating a brand that seemingly reflects the duchess herself."She's not an A-list actress. She's an A-list personality," Jones said."She's really pushed herself back into that influencer side of it versus that celebrity side of it where her brand requires content to be created around her, either by her or by someone else," she added. "That's what Netflix is doing."A sold-out collectionAs Ever's first collection featured items that cost $12 to $15 aside from a $28 limited-edition honey and they sold out within an hour of its launch. The honey was gone in just five minutes.Thanks to standard shipping, it will be a few days before people get to try the products they ordered. And although it's unclear how much merchandise was available to begin with, the launch itself was a win for Meghan.Jones said the gap between the vocal criticism of Meghan's lifestyle ventures and their real-life success isn't surprising."People like to be able to complain and be really, really loud about that," she said. "The haters are gonna hate, but she has a fan base." Meghan Markle's first As Ever collection immediately sold out. As Ever Meghan has meticulously built up her base over the past decade. Many of them started out as fans of her blog, The Tig, which she ran from 2014 to 2017. They loved her recipes and hosting tips before she ever knew Prince Harry."She had a consumer base who are probably still fans of hers," Jones said. "There's not been a big step away from where she was before, back in the days of actresshood and 'Suits,' but she's bringing in a new level of branding."Jones also said that Meghan's fan base has proved fiercely loyal, sticking with her through her royal controversies. That makes them a huge asset for the duchess, which she seems aware of. As she shared on Instagram, Meghan reconnected with her "OG Tig girls" ahead of As Ever's launch.Meghan is finding a sweet spot in the lifestyle world because it blends her passions and the glamour of royal life. She's finding a way to share that with the world, and the proof is in the pudding (or rather, the jam).Recommended video
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  • Meta is preventing a whistleblower from talking to Congress, her lawyer says
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    Meta CEO Mark Zuckerberg. Alex Wong via Getty Images 2025-04-02T20:28:12Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Meta blocks ex-exec Sarah Wynn-Williams from speaking to Congress on China dealings, her lawyer says.The block follows an arbitration ruling enforcing a non-disparagement clause in her severance.A Senate Subcommittee is investigating Meta's China ties, seeking records and details based on Wynn-Williams' memoir.Meta has blocked former Facebook executive Sarah Wynn-Williams from communicating with members of Congress who are investigating the company's dealings with the Chinese Communist Party, her lawyer said.Ravi Naik, the legal counsel for Wynn-Williams, told Business Insider that his client is barred from speaking to lawmakers because of an emergency arbitration ruling Meta obtained last month. The ruling enforces a non-disparagement clause in Wynn-Williams' severance agreement. It comes just as a bipartisan Senate investigation cites her memoir, Careless People, as the catalyst for a probe into Meta's dealings in China."Congress has made it clear they expect to be able to communicate with Ms. Wynn-Williams, and my client wishes to do so," Naik said in a statement. "Meta has, however, silenced Ms. Wynn-Williams through an arbitration process, which means that she is prohibited from communicating with Congress. Ms. Wynn-Williams believes that people deserve to know the truth.""We're not intending to stand in the way of her exercising her rights," a Meta spokesperson told BI.They added that the company did not operate its services in China. "It is no secret we were once interested in doing so as part of Facebook's effort to connect the world," they said. "This was widely reported beginning a decade ago. We ultimately opted not to go through with the ideas we'd explored, which Mark Zuckerberg announced in 2019."The Senate's Permanent Subcommittee on Investigations, chaired by Republican Sen. Ron Johnson and joined by Democratic Sen. Richard Blumenthal and Republican Sen. John Hawley, opened the probe into Meta's dealings with China on April 1.The committee's letter sent to Meta CEO Mark Zuckerberg on Tuesday outlines a sweeping request for records dating back to 2014. Lawmakers are seeking all Meta communications with Chinese government officials, including the Cyberspace Administration of China, and records on Meta's subsidiaries and partners in the country, among other details.They also want information about whether Llama, Meta's AI model, was used by the People's Liberation Army or Chinese tech firms. The request also includes all documents related to "Project Aldrin," which Wynn-Williams' book claims, was Meta's three-year plan to break into China, as well as any internal deliberations about censoring content at the request of national governments.Through her attorney Wynn-Williams, who worked at Facebook from 2011 to 2017, has said she wants to cooperate. But an emergency arbitration order Meta secured last month enforces a non-disparagement clause from her severance agreement and prohibits her from talking to Congress. The ruling, issued just one day after Careless People was published, also bars her from promoting the book or publicly criticizing the company.Wynn-Williams' spokesperson said she sought to lift the gag order, but the arbitrator explicitly denied her request. The ruling warned that allowing her to speak to lawmakers could result in them publicly repeating statements she is barred from making. Allowing Wynn-Williams to talk to legislators would create "an exception that would eat the rule" and could enable public officials to amplify any disparaging statements, the arbitrator said."This ruling implies that the gag order on Ms. Wynn-Williams takes precedence over elected officials' right to know information pertaining to national security," her spokesperson said.Meta has dismissed Wynn-Williams' allegations as false and characterized her as a disgruntled former employee. A spokesperson previously told BI that her claims were "a mix of out-of-date and previously reported claims about the company and false accusations about our executives."Wynn-Williams, who worked at Facebook from 2011 to 2017, has filed a whistleblower complaint with the SEC. Neither the arbitrator's ruling nor Meta's arguments in arbitration dispute the factual content of her memoir, her spokesperson says.Have a tip? Contact this reporter via email at or Signal at . Use a personal email address and a nonwork device; .Recommended video
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  • Democrats want Elon Musk to keep hitting the campaign trail
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    After Democrats notched a victory in Wisconsin, they say they're eager to see Elon Musk keep campaigning for Republicans. Robin Legran/AFP via Getty Images 2025-04-02T20:35:46Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? Elon Musk waded into a Wisconsin Supreme Court race and lost.Now, Democrats want Musk to keep hitting the stump.Musk has quickly become a key foil for Democrats. The Wisconsin election vindicated that approach.After handily winning a Wisconsin Supreme Court race on Tuesday, Democrats are sending a message to Elon Musk: Keep campaigning for the GOP.Ben Wikler, the chair of the Wisconsin Democratic Party, told reporters on a Wednesday press call that Musk should become President Donald Trump's "special envoy for midterm elections.""At the same time, Elon Musk should be removed as quickly as possible from any position of power over the federal government," Wikler added, referring to the billionaire businessman's role as the de facto leader of DOGE.Musk had poured millions of dollars into the race, arguing that the future of Western civilization was at stake. It was the first statewide election since Trump's 2024 victory and was seen as a barometer for the national mood. He even hit the campaign trail in person, holding a town hall event in Green Bay on Sunday night."Elon Musk's money might buy some ads, but it repels voters," Wikler said. Polling has broadly shown that Musk is less popular than Trump.Ken Martin, the chairman of the Democratic National Committee, also mentioned Musk on the call."The more Elon Musk wants to get out there, I say go for it Elon," Martin said. "There are plenty of other states we would love you to campaign in."The Wisconsin race along with closer-than-expected special election results in two deep-red House districts in Florida has emboldened Democrats when it comes to the House of Representatives, where Republicans currently hold an extremely narrow lead. In 2024, Musk spent more than $19 million supporting various Democratic candidates.Katarina Flicker, a spokeswoman for House Majority PAC, said in a statement that the Democratic-aligned group "encourages one of the most unpopular men in America to campaign with Republicans across the country.""His efforts will be crucial to Democrats taking back the House in 2026," Flicker said of Musk.A spokesman for Musk's super PAC did not immediately respond to a request for comment.Recommended video
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  • I've traveled to 26 countries. My favorite is one I almost didn't visit — and I loved it more than Italy and Greece.
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    Croatia won me over with its local hospitality, beautiful natural views, and incredible food. Tricia Patras 2025-04-02T18:24:01Z SaveSaved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.Have an account? I've been to 26 countries but none has impressed me as much as Croatia.The local hospitality and cuisine was unmatched I had incredible meals in Croatia.Plitvice National Park is beautiful and the gorgeous beaches weren't very crowded during my visit. At 30, I quit my job and took a year off to travel the world. In the span of 365 days, I visited 26 countries. I went to popular spots like Florence, London, and Santorini, but my favorite destination was a place I'd almost missed: Croatia. I decided to visit the European country on a whim after seeing posts about it on Instagram and having it recommended to me by a few friends. I knew it was a filming location for "Game of Thrones," but other than that, I had no idea what to expect when I arrived in Croatia. I found myself delighted by the local cuisine and Croatian hospitality Croatia is beautiful. Tricia Patras One of my friends recommended I stay on Hvar, an island on the Adriatic Sea that she described as a "more relaxed version of the Greek Islands."I was worried the island life would feel too slow and not as enjoyable as a solo traveler. However, I soon ate my words and one of the best meals of my life. During my first night in Hvar, I ate handmade spaghettini at a small restaurant on the water. As I was living in Italy at the time, I wasn't expecting to find the best pasta I ever had in Croatia but here I was.I devoured every bite of the delicious pasta, which was served with fresh mussels and seafood from the water before me. The waiters laughed at how much I enjoyed my food and even gave me a free limoncello to celebrate my meal.Although Hvar is small, it felt filled with life. After two days of exploring its wine bars and local bakeries and swimming in the Adriatic Sea, I headed to the mainland.When I arrived in Split, one of Croatia's largest cities, I was pleasantly surprised that it didn't feel crowded or swamped with visitors. After exploring tourist-infested place after place, it felt like a breath of fresh air. I found so much to enjoy in the city, which is surrounded by blue waters and filled with historic architecture. Again, I found more delicious food. I spent my first night in Split alone at a restaurant eating squid-ink gnocchi and olive-oil bread. As a Greek native, I have high standards when it comes to olive oil and the bread I had was incredible.My server was so kind and friendly that I forgot I was even dining alone. He gave me 10% off my bill as a welcome to Split.Again, I found myself touched by the local Croatian hospitality.The nature and beaches felt otherworldly, too Some of the waterfalls I saw in Croatia were incredible. Tricia Patras As I continued to explore Croatia, I felt overwhelmed in the best way possible.I went on a day trip to the gorgeous Plitvice National Park with a group of strangers who ended up becoming friends. I was in awe as we hiked through the otherworldly park, filled with lush greenery and waterfalls galore. The next day, I explored the hills of Park Suma Marjan and relaxed on local beaches. I didn't run into many crowds during my trip. Tricia Patras In popular places like the Greek Islands, beautiful beaches like the ones I visited this would be crowded with tourists and drinks would cost 20 euros a pop. Here, I didn't fight anyone for a lounging spot and I paid no more than 8 euros for a cocktail. I felt relaxed and I felt even more gratitude for Croatia.I'm so glad I visited CroatiaEverything about this country surprised me in the best way possible.The food was a gorgeous hybrid of Italian and Eastern European cuisines. The lush greenery and natural beauty I'd seen couldn't compare to anything else I'd seen on my travels.Plitvice National Park felt wonderfully otherworldly, and so did the hospitality that I received from locals throughout my trip. After just a few days, Croatia had completely won me over and I can't believe I almost didn't visit it. Recommended video
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