5 April 2025

good morning. let’s talk tariffs.

BOO

• tomorrow is Marlow & Sons’ last day of service. rest in peace to the best chai ever.

• Japan is delaying American preorders of the Switch 2 until they see what happens when the tariffs are rolled out.

• June London Fashion Week has been cancelled. instead, the British Fashion Council will showcase British brands in Paris to provide them with more commercial opportunities.

YESS

• £20k worth of Jellycats were stolen from a shop in Somerset. so, like five Jellycats were stolen.

• to save her dog, a woman in Florida pried open an alligator’s mouth.

MONEY

• THE STOCK MARKET LOST $6.4 TRILLION IN ITS LAST TWO TRADING SESSIONS. yesterday’s strong jobs report wasn’t enough to prevent the broad market sell-off. the S&P 500 has fallen over 10% in two days, and yesterday the Nasdaq closed down over 5% from that morning. The Dow has only fallen over 2000 points in one day three other times, all of which were also under Trump.

• China is retaliating with 34% tariffs on American imports as well as bans from 11 American companies and halting imports of chickens from the five largest US agricultural exporters.

• to add to the panic, Jerome Powell discussed his expectation that the tariffs will cause higher inflation and there’s been talk of the Fed cutting interest rates.

• meanwhile, researchers expect to find EU inflation will have been down in March.

LIT

• Alexander Sammartino is on the National Book Foundation’s 5 Under 35 list for his book Last Acts.

MIAM

• the 2025 Michelin Guide for France was unveiled on Monday.

• @vinepair’s final four martinis are Le Veau d’Or, Schmuck, Theodora, & Sunken Harbor Club.

SCREENS & STAGE

• Piece Brosnan expressed his support of Aaron Taylor-Johnson as the next James Bond.

have a good day ★