Good morning and happy Sunday! I am hoping that we have a *slower* news day today so that we can all spend some time with our families, but I don’t want to jinx it. On a personal note, thank you. Your support has fueled this journey. If you find these posts valuable, if you believe in the work we’re doing to break down the noise and elevate the signal, please consider subscribing, or sending a one-time donation to my Venmo. Paid or free, every subscription helps this work continue, and helps amplify the stories that too often get buried.
With that, here’s the news:
Massive price increases are on the horizon because of Donald Trump’s tariffs. Many companies are gearing up to begin raising prices as soon as this week. These companies include:
Walmart announced it will raise prices due to the financial strain caused by Trump’s tariffs on Chinese goods, which the company says are too high to fully absorb. Executives warned that while they’ll try to keep prices low, noticeable increases will begin by the end of May and rise even more in June.
Mattel announced it plans to raise prices in response to tariffs, though it expects 40% to 50% of its products to still cost $20 or less. In reaction, Trump threatened to impose a 100% tariff on Mattel’s toys, warning it would severely impact their U.S. sales.
Best Buy warned that many of its vendors will pass tariff costs onto retailers, likely leading to higher prices for U.S. consumers. While some electronics are temporarily exempt, companies like Nintendo and Sony have signaled that tariffs and market conditions could soon drive up prices on consoles and accessories.
Shein and Temu, once exempt from tariffs under the “de minimis” rule, have started raising prices after Trump signed an order eliminating that exemption. Both companies cited rising operating costs from new trade rules, with noticeable price hikes on items like patio chairs and bathing suits beginning April 25, 2025.
Due to Trump’s 25% tariff on imported cars and most auto parts, Ford plans to raise U.S. car prices by up to 1.5% in the second half of 2025 and has extended special pricing to attract buyers before the hikes. Subaru also announced it will raise prices in the U.S. to offset rising costs, though it did not specify by how much.
Procter & Gamble said it is considering raising prices in certain markets and product categories, with its CEO warning that tariffs are likely to drive up consumer costs. Similarly, Stanley Black & Decker has already increased prices by high single-digit percentages and plans another round of hikes later this year due to tariff pressures.
Adidas warned that ongoing tariff disputes under Trump are likely to raise costs for its products in the U.S. CEO Bjørn Gulden said the uncertainty around final tariffs makes planning difficult, but any increases will eventually lead to higher consumer prices.
The Trump administration has started an effort where ICE is asking judges to end certain migrants’ court cases so those individuals can be arrested and deported more quickly through a fast-track process. This operation bypasses the long immigration court backlog and is part of a broader push to increase deportations nationwide.
House Speaker Mike Johnson stated that the current legislative package does not include cuts to Medicaid. When questioned about the 1.4 million Medicaid recipients in Louisiana, Johnson responded that some people in every district, including his own, are receiving benefits they shouldn't be. He implied that any loss of coverage would likely result from correcting ineligible enrollments rather than cutting the program itself.
When asked about a dinner held by Donald Trump for investors in his private cryptocurrency, Mike Johnson declined to comment, saying he hadn’t heard about the event and was too busy that week. Jake Tapper suggested that Johnson would likely react differently if it were a Democratic president in the same situation.
Trump’s meme coin dropped 16% shortly after he held an exclusive gala at his Virginia golf club for top buyers who had spent $148 million to attend. Though the event attracted crypto influencers and celebrities, many guests were disappointed, citing poor food, limited drinks, and Trump’s brief appearance with little interaction.
Ximena Arias Cristobal, a teenager from Georgia who was detained by federal immigration officers after local traffic charges that were later dropped, has been released from custody. Her detention drew attention due to the dismissed nature of the original charges.
Mexican singer Julión Álvarez was forced to cancel a major concert in Texas after the Trump administration allegedly revoked his visa without explanation. In a video statement, he told fans the show would be postponed and that he’s awaiting further updates on his ability to re-enter the U.S.
Journalists covering the U.S. military have raised serious concerns over new restrictions imposed by Defense Secretary Pete Hegseth, calling them a direct attack on press freedom. The changes limit access to key areas of the Pentagon without an escort and introduce stricter credentialing, which reporters say undermines transparency.
See you this evening.
— Aaron
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