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- 🌊 Trade Wars: Europe Strikes Back
🌊 Trade Wars: Europe Strikes Back
Plus: TikTok deal close, new billionaire numbers, & 20 Questions!
Happy 67th birthday to the peace sign ☮️
The peace sign turns 67 today, and it’s time we tell you it’s origin story. You might think that it came out of a commune or VW Microbus filled with LSD-macrodosing hippies, but it actually emerged from… the Campaign for Nuclear Disarmament. The artist, a Brit named Gerald Holtom, described his inspiration for the symbol: "I was in despair. Deep despair. I drew myself: the representative of an individual in despair, with hands palm outstretched outwards and downwards in the manner of Goya’s peasant before the firing squad." What’s next? Are we going to find out that the inventor of the smiley face had a frown? Oh no…
Have a great weekend. Here’s today’s This or That edition of 20 Questions!
💸 China and the EU strike back
💰 We have a TikTok deal?
🙋♂️ 20 Questions!
–Max and Max
KEY STORY
Tariff Countermeasures
Major US trading partners criticized President Trump’s sweeping tariff policies and threatened to retaliate
On Wednesday, Trump announced 10% tariffs on all foreign goods and higher additional “reciprocal tariffs” on countries that impose tariffs on or restrict imports of US goods
The EU said it is “now preparing for further countermeasures to protect our interests and our businesses if negotiations fail”
China – whose exports now face a 54% tariff – said it “firmly opposes” the imposition of tariffs and said that it “will take countermeasures to safeguard its own rights and interests”
Dig Deeper
Speaking on CNBC on Wednesday, Commerce Secretary Howard Lutnick said, “This is the reordering of fair trade…I expect most countries to start to really examine their trade policy towards the [US]”
Lutnick added, “We’re talking with all of the major countries of the world, and we’ve been talking to them for more than a month…The key is…will they treat us fairly?...Over time, that is going to be yes”
KEY STORY
Houthi Strikes
The US campaign against the Houthis has escalated with daily airstrikes
Between November 2023 and January. 2025, the Houthis – an Iran-backed group that controls much of Yemen – launched attacks on 100+ commercial ships in the Red Sea, forcing many ships to make the longer and costlier route around the southern tip of Africa
Over the past week, the US has conducted over 178 separate airstrikes in Yemen and is sending a second aircraft carrier group and B-2 bombers to the region
Trump said on Truth Social, “The real pain is yet to come, for both the Houthis and their sponsors in Iran”
Dig Deeper
On Wednesday, Senators Rand Paul (R-KY) and Jeff Merkley (D-OR) sent a letter to the White House expressing concern of escalation, per Semafor
The senators wrote, “These campaigns only served to embolden the Houthis and rally their recruiting base”
They added that the administration should “explain to…the American people its expected path forward” given its statements saying “the military campaign will continue and possibly expand”
QUOTE OF THE DAY
You have to be merciless
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KEY STORY
TikTok Deal Close?
The White House is reportedly nearing a final TikTok sale agreement, per the Financial Times
The 75-day delay on TikTok’s ban is set to expire on Saturday, forcing the app to cease US operations if a sale is not reached with its Chinese owner ByteDance
The FT reports that a group including Andreessen Horowitz, Blackstone, and other investment firms are nearing a deal to buy a 50% stake in TikTok. Amazon has also reportedly made a last-minute bid
The White House is reportedly also exploring other options, including a lease agreement for TikTok’s algorithm
Dig Deeper
In an interview with Fox News on Thursday, Vice President JD Vance said a deal was close: “It’ll come out before the deadline. I think that we're in a good place,” he said
Vance added, “We’ve got to wait a couple days to continue working on it, to finalize some things, and of course we’re going to let the president announce whatever we ultimately decide”
White House press secretary Karoline Leavitt, meanwhile, told NewsNation, “The president hopes to get a deal done. He has said he reserves the right for an extension if necessary”
KEY STORY
Market Reacts
The US stock market suffered its largest single-day drop since 2020 after President Trump’s announcement of steep tariffs on foreign imports
Many investors worry that a prolonged trade war with major trading partners could be costly, increase inflation, and reduce growth in the short-term
On Thursday, the Dow Jones lost nearly 4%, the S&P 500 nearly 5%, and the tech-heavy Nasdaq almost 6%
In total, stocks have lost about $2.7T in market value, the largest decline since the pandemic
The biggest losers were companies that heavily rely on imports, including Apple, Nike, and Gap, whose shares dropped between 10-20%.
Dig Deeper
Proponents of tariffs argue that they are necessary to reduce the trade deficit, protect workers, and restore the manufacturing base; critics warn the moves could trigger a severe recession
On Thursday, JPMorgan analysts raised their forecast of a recession’s likelihood to 60%
RUNDOWN
Some Quick Stories for the Office
💰 There are now 3,028 billionaires – the most ever recorded – who collectively control more wealth than ever, per Forbes’ annual ranking
💵 President Trump’s media company, Trump Media and Technology Group, filed to sell over 142M shares, which reportedly includes all of Trump’s $2.3B stake
🇺🇸 On Wednesday, Politico reported that Elon Musk would be stepping back from his role in the Trump administration later this month
🖥️ Wikimedia, Wikipedia’s parent organization, announced that bots scraping the site for information used to train AI chatbots have increased strain on its bandwidth by 50% this year
🛰️ Amazon announced it will launch its Project Kuiper internet satellite program on April 9, viewed as a rival to Elon Musk’s Starlink satellite program
What does Roca Nation think?
🧠 Yesterday’s Question: Let’s talk tariffs. Thoughts?
In an effort to... I guess get one up on other countries? Trump is making the citizens he's supposed to be in charge of pay more for nearly everything.
This is great, I love paying more for the same product.
I think the tariffs are overdue. It’s time we stop acting like a pushover and push back with retaliatory tariffs. It might hurt us short term but in the end there will be negotiations that will create something that is more fair for America and will also help bring back manufacturing to the U.S.(as we are already seeing). Some of examples that people don’t realize in regards to tariffs against United States:
Tariffs Canada already has on United States products, and this is just some..
270% tariff on milk
245% tariff on cheese
298% tariff on butter
238% tariff fun chicken
69.9% tariff on sausages
57.8% tariff on barley seed
26.5% tariff on meat
25% tariff on cars
45% Tariff on aluminum
48% tariff on copper…to name a few. Canadians need to man up!
Trump pointed to the European Union, and explained the U.S. will charge its nations a 20% tariff, compared to its 39% tariffs on the U.S. Japan will see 24% tariffs compared to the 46% the country charges the U.S., while China will be hit with a 34% tariff compared to the 67% it charges the U.S.
I don’t get why people are so upset with what we’re doing when our retaliatory tariffs still are not at the level of what other countries are doing to us.
Tariffs are pretty much the worst. They can be good to incentivize growth in certain economic sectors, but only when paired with subsidies or tax cuts in that sector. A blanket tariff is not going to help bring manufacturing back to America alone; you also need to pay industries to bring it back. The tariff by itself is just going to make everything more expensive for the consumer. Everyone is just going to end up paying more for everything, especially if you're using tariffs as a punishment. Blanket tariffs like this are going to make markets inflated more than they already have, and will trigger a recession that will only get worse if we keep tariffs in place.
20 Questions!
Sorry for no trigger warning, but this is what we look like.
Over the course of the last four or so years, the duration of 20 Questions' history, the edition that has averaged the most responses per week is "This or That." Maybe that's because it's easier, but maybe it's because comparisons are fun. Well, most comparisons. My parents compared me to Sid from Toy Story and I never loved that one...
So here we go with another This or That. Results next week.
Last Week’s Responses
Answer key to last week’s trivia edition of 20 Questions.
1. What is the capital city of Michigan? Lansing
2. Who painted the ceiling of the Sistine Chapel? Michelangelo
3. What is the largest planet in our solar system? Jupiter
4. In what year did the Titanic sink? 1912
5. Which actor voiced Woody in Toy Story? Tom Hanks
6. Name two comedians from Canada. Mike Myers, Norm Macdonald 🐐, Martin Short, Dan Aykroyd, Seth Rogen, Will Arnett, Jim Carrey, John Candy, etc.
7. What currency is used in Japan? Yen
8. Who was the first woman to win a Nobel Prize? Madam Curie
9. What U.S. state has the nickname "The Keystone State"? Pennsylvania
10. What’s the chemical symbol for gold? Au
11. Name two of the Impractical Jokers. Joe, Sal, Mur, Q (tough week for them...)
12. Where did LeBron go to high school? St. Vincent-St. Mary in Akron
13. Who wrote Pride and Prejudice? Jane Austen
14. What’s the longest river in the world? Nile
15. Which animal can be seen on the Porsche logo? Horse
16. Who sang the hit song "The Sign" in the 90s? Ace of Base
17. Complete the Quote: "Mr. ____ tear down that wall." Gorbachev
18. Who was the lead singer of Queen? Freddie Mercury
19. What’s the hardest natural substance on Earth? Diamond
20. In Greek mythology, who is the god of the underworld? Hades
POPCORN
Some Quick Stories for Happy Hour
⛵ Offerings: An American tourist was arrested after illegally sailing to North Sentinel Island – home to one of the world’s most isolated tribes – where he left a can of Coca-Cola and a coconut as "offerings”
🐶 Vigilante Justice: Colorado authorities are investigating a “mysterious poop chucker” who has been throwing bags of dog waste onto a woman’s property for the past month
⚾ Torpedo Bat Business Booming: Baseball's latest craze – the torpedo bat, with a bowling pin-shaped barrel – has exploded in popularity after the Yankees hit nine home runs in a game
🐧 Seal of Disapproval: The uninhabited Heard and McDonald Islands – a small Antarctic territory populated only by penguins and elephant seals – found itself facing tariffs from the US on Wednesday
🚄 Six-Hour Station: A Japanese railway company announced plans to build the world's first 3D-printed train station, replacing an aging wooden shelter
ROCA WRAP
Nepo-Minister
Nepo-Minister
The leader of Chechnya, a semi-autonomous and majority Muslim republic in southwestern Russia, made his 17-year-old son interior minister.
After the collapse of the Soviet Union in 1991, Chechnya declared independence, leading to years of civil war against Russia before returning to Russian control in the early 2000s. Since 2007, it has been ruled by Ramzan Kadyrov, who has maintained close ties with Russian leadership in exchange for autonomy.
On Tuesday, Kadyrov appointed his son Adam, who turned 17 last November, to lead Chechnya’s branch of Russia’s Interior Ministry. Adam has served as his father’s main bodyguard since 2023, which earned him an entry into Russia's "Book of Records" – its version of the Guinness World Records – as the youngest head of a security detail.
The 17-year-old will now oversee the region’s security forces and handle counterterrorism in a region that has long been a hotbed of violence and terrorism.
Many have speculated that the teenager’s appointment to lead the region’s security forces is meant to groom him to replace his father, who is rumored to be battling health issues. However, the appointment follows reports that his father Ramzan’s relationship with Vladimir Putin has deteriorated.
Ramzan Kadyrov has played a major role in Russia’s war in Ukraine, sending battle-hardened Chechen militias to the front lines, particularly at the beginning of the invasion. Despite this, the Kremlin has reportedly become suspicious of Kadyrov after learning of secret meetings between him and Middle Eastern officials to discuss protecting his assets and family.
With Chechnya’s history of violence against Russian impositions, the deterioration of the Kadyrov’s relationship with the Putin could threaten the turbulent region’s tentative peace.
ROCA VIDEO
Why This March Madness Feels Weird
ICYMI… also good luck to all of you fans of a Final Four team — even you, Blue Devil nation. We really hope there’s not another Auburn heartbreak given that many of you Auburn fans have said that our listing of UVA-Auburn’s Final Four game and FSU-Auburn’s natty was somewhat taunting.
EDITOR’S NOTE
Final Thoughts
We hope you all have a wonderful weekend. Max F is currently heading to a mud wrestling match in Pakistan, so things are completely normal in our world.
As always, thank you for reading Roca. We are going to try to de-politics-ify the news as much as we can in the coming weeks given the heavy doses of late. You all are the best, Roca Nation!
–Max and Max