Today’s Big Story…

China will impose 34% tariffs on U.S. goods starting April 10, mirroring President Trump’s recent tariff move under his Liberation Day reciprocal trade plan.

Chinese Foreign Ministry spokesperson Guo Jiakun criticized the U.S. tariff hikes as a violation of World Trade Organization rules, claiming they were imposed under the false pretext of reciprocity and undermine the global trading system.

Trump responded promptly to China’s drastic move on Truth Social: “China played it wrong, they panicked — the one thing they cannot afford to do.” The president, in a separate post, urged investors to begin partaking in growing the U.S. economy, saying now is the best time than ever before to get rich.

Another Big Story…

Meanwhile, China’s neighboring country, Vietnam, has decided to drop tariffs on U.S. goods entirely in exchange for a deal between the two countries.

President Trump revealed the significant development following a phone call with the general secretary of Vietnam’s Communist Party, To Lam. This comes after billionaire Bill Ackman advised world leaders to pick up their phones and make a deal with the president ASAP, writing about Trump in part: “Based on his track record to date with foreign governments, law firms, and universities, he is a tough, but fair negotiator. He loves to make deals and he loves to get things done promptly.”

Ackman added: “I expect Trump will reward the early dealmakers with fairer deals than those that wait to sit down at the negotiating table. Countries that respond with additional tariffs on our goods will be severely punished.”

ALSO: Fed Chair Jerome Powell warned Trump’s steep new tariffs could worsen inflation and slow growth, calling them larger than expected. Trump fired back on Truth Social, demanding rate cuts.

My Thoughts…

China is playing the wrong tune here. Ultimately, they’ll fail to weather the tariff storm and will have to negotiate with Trump. Vietnam did, and others will continue to do so.

As for Powell: stop playing games, and cut the rates!

The Administration…

• President Trump has fired NSA Director Gen. Timothy Haugh and Deputy Wendy Noble amid pressure from conservative allies to remove officials seen as disloyal to his “America First” agenda. Lt. Gen. William Hartman will serve as acting director, with Sheila Thomas as deputy.

• Trump posted a video of an airstrike against a group of Houthi terrorists, all standing in a circle before they are blasted into oblivion.

• FBI Director Kash Patel is targeting Chinese influence over U.S. farmland, especially near sensitive sites, framing it as a national security and food supply threat. The move aligns with the Trump administration’s broader second-term effort to counter the CCP’s presence in America.

• March job growth beat expectations, with nonfarm payrolls rising by 228,000—well above February’s revised 117,000 and the 140,000 forecasts, the Labor Department reported.

• The IRS will cut about 20,000 jobs—roughly 25% of its workforce—as part of the Trump administration’s push to shrink the federal government. The layoffs, including staff from the civil rights office, come just 11 days before the tax filing deadline.

• DOGE announced the General Services Administration saved $1 million by converting 14,000 outdated magnetic tapes to modern digital records.

• Two-time U.S. Open champ Bryson DeChambeau called Trump a “great ambassador for golf” amid ongoing PGA Tour–LIV Golf talks.

• However, Trump is facing criticism for not attending the dignified transfer of four American soldiers who died in Lithuania at Dover Air Force Base, Delaware, due to his commitment at a LIV golf event at his Doral Golf Club in Miami, Florida.

• A North Carolina appeals court panel ordered over 65,000 votes in the 2024 state Supreme Court race to be recounted and verified—a major boost for the Republican candidate in the tight, disputed contest that could shift the outcome. This is a major win for the GOP.

Vice President…

JD Vance and other Trump administration officials will be pausing negotiations for potential buyers of TikTok due to China’s retaliation following Liberation Day tariffs kicking in. As a result, Trump has extended the deadline for the banning of TikTok from the U.S. by another 75 days.

Congress…

The Resistance…

1. Flashback videos are circulating on social media showing Nancy Pelosi, Bernie Sanders, and Barack Obama making statements on tariffs and trade that sound strikingly similar to Trump’s stance.

2. A new book claims former President Obama distanced himself from the Democratic Party after leaving it in disarray, portraying him as never truly loyal to the party and instead reliant on support from a network of Black professionals.

3. Former Vice President Kamala Harris attempted an "I told ya so" moment at a speech in California following Trump’s tariff launch, claiming his actions are unconstitutional.

4. Hunter Biden received help from the Obama-era State Department while representing Ukrainian energy firm Burisma, which paid him a million-dollar salary. The files show he sought and secured U.S. support for a Burisma geothermal project in Italy.

5. A Rhode Island federal judge targeted for impeachment dealt a setback to the Trump administration, ordering FEMA to unfreeze funds after 22 states and D.C. sued over blocked environmental grants, including the EPA’s Climate Pollution Reduction program.

6. Masked protesters attacked conservative students at UC Davis, destroying equipment and assaulting staff before a Turning Point USA. The group’s founder, Charlie Kirk, said that camera gear, signage, and tables were damaged during the chaos.

In Other News…

1. Chinese scientists at the Wuhan Institute of Virology, led by Shi Zhengli, have identified a new bat coronavirus, HKU5-CoV-2, that uses the same ACE2 receptors as SARS-CoV-2, raising concerns about its potential to infect humans. Details here…

2. A study has labeled an unexpected city as the top U.S. longevity hotspot, with experts predicting it could be home to the first person to live to 150 years old. Read more…

3. Taylor Schabusiness, 27, who killed and dismembered her boyfriend in a meth-fueled attack, lunged at her lawyer in a shocking courtroom outburst. The incident, captured on video, shows Schabusiness screaming and attempting to attack her attorney before being restrained by court deputies.

4. A cluster of brain tumors among nurses on the fifth floor of Newton-Wellesley Hospital in Massachusetts has raised concern, with five confirmed cases and staff alleging up to 10, including malignant tumors.

Your Opinions & Questions…

Lalonde: ”I love the DML Report and Facebook production. I have a question regarding the tariffs that someone had mentioned on the news. What would you say about those who are just now getting ready to retire and their 401(k) has been affected dramatically?”

47 Report: It’s going to be a bumpy road, but the holdout will be worth it. It’s not easy for many who were prepping to retire this year, but let’s see how the course changes after a month of these tariff implementations. Things may spring up faster than anticipated, especially if more of these countries can come to the negotiating table and as more companies relocate back into the U.S.

DML Podcasts…

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Have a blessed day,
The Lynch Family

47 Report is written by Denny Lynch, Ryan Lynch, and DML, artwork by Ashley Lynch, and input from Mary Lynch; all rights reserved by TeamDML Inc., 2025. Links may lead to sites from which TeamDML Inc. profits.