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