Axios

The Axios Pro Deals team is launching two new verticals with expert coverage on supply chain and biotech deals with Colin Campbell and Katherine Davis. Learn more here: https://lnkd.in/efVXHcEp

NEW: Nintendo is delaying preorders for its hotly anticipated Switch 2 gaming console amid tariff uncertainty. "Pre-orders for Nintendo Switch 2 in the U.S. will not start April 9, 2025 in order to assess the potential impact of tariffs and evolving market conditions," Nintendo said.

BREAKING: Federal Reserve chair Jerome Powell says that bigger-than-expected tariffs will translate into higher inflation and slower economic growth — and that the higher inflation could be persistent, not temporary. "While uncertainty remains elevated, it is now becoming clear that the tariff increases will be significantly larger than expected," Powell said at a conference of business journalists, according to a prepared text.

Axios' Future of Defense: Aviation, Weapons and Technology Innovation Axios hosts an event in Washington, D.C. on the future of defense innovation in a new Washington.

It's way too early to know if we're at the start of a protracted trade war that wrecks global economies, or what will prove to be a short-lived skirmish. Such tumult, however, becomes a brick wall for many companies planning long-term investments like acquisitions. Plus, sellers may hold back while their valuations plunge.

BREAKING: U.S. economy added 228,000 jobs in March ahead of trade war escalation https://trib.al/QvZ3T2D

Steve Jobs and Tim Cook built the most successful and arguably most beloved U.S. company for the last 25 years on a foundation of open trade, particularly with China. Trump has now set about torching the whole arrangement. https://trib.al/AGKPjXZ

Implementing the new reciprocal and baseline tariffs, on top of the other taxes on imports already imposed by the White House, would increase fresh produce prices by 4% and food prices overall by 2.8%, per the Yale Budget Lab's model. But prices for certain products will rise further.

🤐 "Liberation Day" wasn't so liberating for America's CEOs. We dive into this in today's Axios Communicators. PLUS... — The new IPO playbook feat. insight from Shahed Fakhari Larson, Ash Spiegelberg, Lacey Berrien, Marc Drechsler and Kate Bullinger — The communications vacuum created by sweeping layoffs at HHS — a spotlight on blake simpson of Adtalem Global Education — and Tumblr's revival READ: https://lnkd.in/edctPvVG

Global leaders and corporate executives alike are trying to figure out how to rejigger their economies to be less reliant on the U.S. in the longer run, even as they contemplate near-term retaliatory measures in hopes of lessening the tariff pain. https://trib.al/w90DM17