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Anna's Daybreak News

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Friday, 5:19 AM

March 7, 2025

Good morning news friend! Discover the forces driving change and shaping the world around you. 📰🌟

Would you like to see the poll results and comments from our previous edition? Click here to see what other readers had to say about the tariffs, the Supreme Court rejecting foreign aid freeze, inflation impacts, the darknet and more!  

Note: Our aim isn’t to boost or disparage either side of the political spectrum. Our goal is to present the news neutrally, without editorializing, so you can form your own opinions.

Trump Pauses Most Tariffs

President Trump has delayed 25% tariffs on most imports from Mexico and Canada for one month, until April 2. The reprieve covers goods under the USMCA trade agreement. However, a 10% tariff on certain energy products remains.

Approximately 50% of Mexican exports and 45% of Canadian exports entered the US duty-free in 2024. However, about 40% of imports from these countries fell outside USMCA

Trump's rationale for these tariffs centers around combating illegal immigration and curbing fentanyl trafficking.

Ontario’s Premier Doug Ford has announced a 25% electricity export tax to New York and Michigan.

Sources: WallStreetJournal, Reuters, APNews, Bloomberg, FinancialTimes, NYTimes, BBC.

EU Leaders Unite for Defense

EU leaders convened emergency talks in Brussels to enhance defense spending after the Trump administration signaled a reduced commitment to European security.

The 27 member states agreed to loosen budget restrictions, potentially freeing up 650 billion euros ($702 billion) for military enhancements. A proposed loan package of 150 billion euros ($162 billion) aims to aid EU nations in procuring military equipment.

Hungary's Prime Minister Viktor Orbán opposed certain provisions supporting Ukraine. Polish Prime Minister Donald Tusk emphasized Europe’s capability to outmatch Russia militarily.

French President Emmanuel Macron highlighted the urgency of addressing defense needs, suggesting the possibility of extending France's nuclear deterrent as protection for EU partners.

Sources: Europa, APNews, Reuters, PT.

Market Fluctuations

Initial jobless claims fell by 21,000 to 221,000. Federal layoffs jumped to 172,017 in February, largely due to cuts from the Department of Government Efficiency (DOGE). This number marks the highest since the last two recessions.

Applications for unemployment benefits among federal employees reached a four-year high at 1,634. The federal government has reported 62,242 job cuts across 17 different agencies, primarily affecting Washington D.C.

The trade deficit surged by 34.0% to a record $131.4 billion in January, driven by a spike in imports as businesses rushed to stock up before tariffs. Imports climbed by 10.0% to $401.2 billion, while exports only increased by 1.2% to $269.8 billion.

Mortgage rates have dropped to an average of 6.63%, more than 20% lower than recent highs, providing some relief to prospective homebuyers.

Sources: Reuters, APNews, FxStreet, GNW, Bloomberg.

Intuitive Machines' Athena Struggles on the Moon

Intuitive Machines’ lunar lander, Athena, touched down on the moon on March 6 at approximately 12:32 PM ET.

The mission aimed for a site near Mons Mouton, about 100 miles from the lunar south pole. Unlike last year's Odysseus lander, which tipped over, Athena's current orientation remains unclear.

Mission controllers received signals indicating Athena was operational but struggled to confirm whether it remained upright. NASA invested $62 million in this mission.

The spacecraft traveled 238,000 miles (383,000 km) from Earth, carrying 11 payloads, including a drill designed to extract lunar soil.

Sources: NASA, Reuters, APNews, NYTimes, SpaceNews.

Eli Lilly's Weight-Loss Drugs Protected

A US federal judge ruled against compounding pharmacies, banning them from producing copies of Eli Lilly's weight-loss drugs Zepbound and Mounjaro.

The ruling came after a lawsuit challenged the FDA's claim that the active ingredient, tirzepatide, was no longer in short supply.

The Outsourcing Facility Association, the lead plaintiff, argued that millions rely on compounded tirzepatide, but the judge's decision hinged on FDA findings, which the association contested.

Eli Lilly welcomed the decision, stating it effectively ends large-scale compounding of its drugs. Patients often pay out-of-pocket for compounded drugs.

Sources: Reuters, PharmaLive, Investing, MarketScreener.

Rewriting Human Evolution Timeline

Archaeologists in Tanzania's Olduvai Gorge uncovered 27 bone tools dating back 1.5 million years. This pushes back the date of known bone tool technology by over one million years.

These tools, made from elephant and hippopotamus bones, are believed to have been crafted by an early hominid species called Homo habilis.

The tools found at Olduvai Gorge are crucial to understanding the transition from the Oldowan to the Acheulean cultures, known for more refined tools.

This discovery indicates that early humans had more advanced technological capabilities and cognitive skills much earlier than previously recognized.

Sources: ScienceAlert, ArcheologyMag, TBS, SciNews, ArsTechnica.

“I wonder whether a bitter enemy would be jealous if he discovered that I hated someone else.”

Did you know we also write in-depth deep dives? They are long, packed with insights, and have received rave reviews. If you’re up for a detailed, action-packed read, check them out:

• America’s Opioid Crisis

• AI and the Age of Intelligence

• Iran’s Nuclear Program 

Baked with love,

Anna Eisenberg ❤️