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The U.S. has unveiled a plan to impose fees on Chinese ships and Chinese-built vessels, aiming to weaken China’s grip on global shipping and revive domestic shipbuilding. Beginning in six months, Chinese-owned ships will face $50-per-ton fees per voyage, rising annually. Non-Chinese operators of Chinese-built ships will pay lower rates. The policy, developed by the USTR following a Biden-era probe, includes incentives for carriers ordering U.S.-built ships and exemptions for certain trade routes. Additional fees and LNG shipping restrictions are planned. The initiative is part of a wider Trump administration effort to bolster the U.S. maritime sector despite concerns over cost impacts. The Wall Street Journal editorial board criticizes the proposed shipping tax, warning it could spike freight costs and cripple U.S. exports.

 

Wall Street Journal

Wall Street Journal

President Trump is escalating tensions with Federal Reserve Chair Jerome Powell, threatening to fire him unless interest rates are cut to offset the economic fallout from tariffs. Legal experts question whether Trump has the authority to remove Powell, whose term ends next year, as the law protects the Fed’s independence. Powell, who has refused to resign under pressure, argues that rate cuts now could worsen inflation. The dispute signals a looming constitutional showdown, with Trump challenging long-held norms safeguarding monetary policy. Former adviser Jon Faust warns the risk of crisis is “uncomfortably high.” Trump has already taken unprecedented steps to install loyalists and expand executive control. If he pursues Powell’s removal, the conflict could reach the Supreme Court.

 

Wall Street Journal

A federal judge has decided not to dismiss a lawsuit from labor unions aimed at preventing Elon Musk's Department of Government Efficiency (DOGE) from accessing systems at the Labor Department. The unions argue that this access violates the federal Privacy Act, which protects medical and financial records of millions of Americans. U.S. District Judge John Bates stated, “This Court is the first to admit that seeing someone's name and SSN in the 648th row of a spreadsheet is ‘different in kind' from peeping into someone's bedroom window,” emphasizing the importance of privacy. While some claims were allowed to proceed, others related to health care privacy laws were dismissed. The case is expected to evolve significantly as it progresses through the courts.

 

U.S. News

Three law students have filed a lawsuit against the Equal Employment Opportunity Commission (EEOC), claiming its investigation into diversity policies at 20 major law firms is illegal. The students argue that the EEOC's acting chair, Andrea Lucas, overstepped her authority by demanding sensitive information from firms, which could expose the personal data of lawyers and job applicants. They expressed concerns that "the government may use their data improperly to target them or their families." The lawsuit seeks to prevent the EEOC from obtaining this information without proper procedures and to destroy any data already collected. The legal action is part of a broader backlash against President Donald Trump's efforts to limit workplace diversity initiatives.

 

Reuters

The U.S. Consumer Financial Protection Bureau (CFPB) announced plans to lay off up to 90% of its workforce, affecting around 1,500 employees, following a federal court ruling that allows the Trump administration to adjust staff levels. The agency, established to protect consumers from predatory practices, will retain only 200 staff members. This decision comes amid legal challenges from an employee union and consumer advocates who argue that the layoffs are illegal. Senator Elizabeth Warren criticized the administration's actions, stating: "Donald Trump ran his campaign on lowering costs for working families. Now he and his co-president, Elon Musk, have tried to shut down the agency that has delivered $21bn to hardworking families." The CFPB, created after the 2008 financial crisis, has faced significant scrutiny and changes under the current administration.

 

New York Times

Reuters

U.S. News

President Trump's administration has scrapped an $8 limit on most credit card late fees, the latest consumer protection regulation. The CFPB adopted the fee cap last year, estimating it would save households $10bn a year. A coalition of banking and business trade groups sued to block the rule, arguing that the CFPB had exceeded its statutory authority. Now under the leadership of Russell T. Vought, the White House budget office leader and acting director of the bureau, the CFPB reversed its stance and said in court filings that the fee limit illegally stretched beyond the agency's bounds.

 

Chicago Sun Times

NY Daily News

The New York Times

The Food and Drug Administration (FDA) is suspending its proficiency testing program for food safety due to significant staff cuts at the Department of Health and Human Services (HHS). An internal email revealed that the program, which ensures accuracy across approximately 170 labs, will be halted at least until September 30. The email stated: "These PTs and Exercises are critical to demonstrating the competency and readiness of our laboratory network to detect and respond to food safety and food defense events." The suspension affects critical tests for contaminants like Cyclospora in spinach and glyphosate in barley. The cuts, which may involve up to 20,000 HHS employees, have already disrupted public health research and other essential FDA functions.

 

U.S. News

Following a lithium-ion battery fire at the Moss Landing plant in Monterey County, California, communities across the U.S. are voicing their apprehensions about hosting similar facilities. Many are questioning the safety protocols in place for such plants. The fire has highlighted the potential risks associated with lithium-ion battery technology, prompting discussions on regulatory measures and community safety.

 

NPR / National Public Radio

Meta has received approval from the European Data Protection Commission to use publicly shared content from its platforms, including Facebook, Instagram, WhatsApp, and Messenger, for training its artificial intelligence models. The company said: “It’s important for our generative AI models to be trained on a variety of data so they can understand the incredible and diverse nuances and complexities that make up European communities.” However, private messages and data from users under 18 remain off-limits. Users can opt out of data usage for AI training through an accessible form. This approval follows a previous pause in AI training due to privacy concerns raised by advocacy group None of Your Business, which led to a review by the Irish Data Protection Commission. Meta claims its approach now meets legal obligations and aligns with practices of other tech giants like Google and OpenAI.

 

CoinTelegraph

As Congress deliberates the future of the Cybersecurity Information Sharing Act of 2015 (CISA 2015), cybersecurity policy expert Matthew Eggers warns that allowing the law to expire would jeopardize the trust built between industry and government. CISA 2015, designed to facilitate the sharing of cyber threat data between private companies and the federal government, has significantly aided sectors like finance and healthcare in combating cyber threats. However, key provisions are set to expire at the end of September unless renewed by Congress. Eggers emphasizes the importance of this renewal, stating, "letting the law expire would undercut years of trust-building." The ongoing discussions will need to address concerns from privacy advocates as lawmakers navigate this critical decision.

 

Fast Company

U.S. applications for jobless benefits fell again last week, the Labor Department said Thursday, with the jobs market continuing to hold up despite fears of a tariff-induced recession. New claims fell by 9,000 to 215,000 in the seven days to April 12th, the lowest level since February, and well below the 225,000 forecast in a Reuters survey of economists. The four-week moving average fell 2,500 to 220,750, while continuing claims, reported with a one-week lag, grew 41,000 to 1.89m. "The labor market remains resilient," said Michael Pearce, deputy chief U.S. economist at Oxford Economics. "We are most concerned about small businesses, which are responsible for a large share of total employment and job creation and are less able to withstand gyrations and uncertainty in tariff policy."

 

Reuters

Washington Post

The IRS is facing significant workforce reductions after over 22,000 employees accepted a buyout offer from the Trump administration. This deferred resignation program allows workers to receive full pay and benefits until September 30th, with many not required to work during this period. The IRS, which had around 100,000 employees at the start of Trump's second term, has already seen 7,000 probationary employees fired and 5,000 leave in recent months. Chye-Ching Huang, executive director of the Tax Law Center at New York University, expressed concern, saying: "I worry that this Administration's destructive initiatives at IRS will cost the federal government hundreds of billions of dollars in revenue." The mass departures could severely impact the agency's tax processing capabilities, potentially depriving the government of crucial revenue amid a $1.83tn deficit.

 

CNBC

New York Times

Politico

US News and World Report

Target's CEO Brian Cornell is set to meet with Rev. Al Sharpton this week amid growing concerns over the company's recent decision to scale back its DEI initiatives. A spokesperson from Sharpton's National Action Network confirmed the meeting, which follows Target's announcement on January 24 to end its DEI goals aimed at increasing Black employee representation and improving experiences for Black shoppers. Sharpton has been vocal about boycotting companies that reduce DEI efforts, having previously given PepsiCo a deadline to discuss similar issues. The situation has led to various boycotts against retailers, including Target, with some faith leaders organizing protests.

 

CBS News

U.S. News

H Partners, a U.S. investment firm holding a 9% stake in Harley-Davidson, is gearing up to challenge the motorcycle maker's board and CEO due to declining sales. According to the Wall Street Journal, the firm plans to propose the removal of three long-standing directors during the annual meeting scheduled for mid-May. The move reflects H Partners' intent to instigate significant changes within the company as it grapples with its current performance issues.

 

Daily Mail