Nintendo said it needed to “assess the potential impact of tariffs.”
Fallout continues after President Donald Trump’s unveiling of severe tariffs against virtually all U.S. trading partners.
Thursday was the worst day for U.S. stock markets since June 2020. China struck back on Friday, announcing a 34% tariff on American goods as other foreign leaders weigh their response.
Meanwhile, Trump’s universal 10% levy against all countries is expected to go into effect early on Saturday.
Senate Minority Leader Chuck Schumer spoke with reporters on the Hill Friday and called on more Republicans to join a bipartisan bill from Sens. Maria Cantwell and Chuck Grassley to limit President Donald Trump’s ability to issue future tariffs.
He warned tariffs will “hurt the whole economy.”
“The business community is totally nervous about this. What makes it cause a recession? Businesspeople like certainty, and when Trump is all over the lot, issues new things every day, and it’s so erratic, and now we have China retaliating,” Schumer said.
-ABC News’ Jay O’Brien
London’s FTSE 100 index has suffered its biggest daily drop since the start of the COVID-19 pandemic. The index closed down 419.76 points, or 4.95%, at 8,054.98
1 hour and 36 minutes ago
Days after announcing the Switch 2, Nintendo said Friday it’s delaying preorders for the new console due to President Donald Trump’s tariffs, the company announced.
“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 will update timing at a later date. The launch date of June 5, 2025 is unchanged.”
A guest plays Mariokart World with the new Nintendo Switch 2 video-game console system of Japanese video-game company Nintendo during the worldwide presentation at the Grand Palais in Paris on April 2, 2025.
Dimitar Dilkoff/AFP via Getty Images
The Switch 2 announcement on April 2, long planned, fell in the crosshairs of Trump’s trade war.
2 hours and 12 minutes ago
Fed Chair Jerome Powell talked about the current economic outlook at the Society for Advancing Business Editing and Writing Annual Conference Friday and gave his insight on the tariff situation.
Powell said that tariffs will likely raise inflation and slow down growth in the coming quarters.
“The size and duration of these effects remain uncertain. While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent,” he said.
Federal Reserve Chair Jerome Powell speaks on the economy during the 2025 annual conference of the Society for Advancing Business Editing and Writing, in Arlington, Virginia, on April 4, 2025.
Brendan Smialowski/AFP via Getty Images
Powell added the U.S. is “well positioned to wait for greater clarity before considering any adjustments to our policy stance. It is too soon to say what will be the appropriate path for monetary policy.”
