Large-scale demonstrations nationwide, including in downtown Los Angeles, are scheduled for Saturday following President Donald Trump’s actions. sweeping tariff policy introduced earlier this week.
Southerners based in California will gather at DTLA’s Pershing Square beginning at 4 p.m. on Saturday for the event. Hands Off! Los Angeles Pushes Back Rallies forming part of a countrywide sequence of demonstrations against both President Trump and businessman Elon Musk, who has assumed significant influence within the administration.
They're seizing all they can lay their hands on—including our healthcare, personal data, employment opportunities, and essential services—and challenging the globe to intervene," states the protest's website. "This situation constitutes a crisis, and immediate action is imperative.
In the course of implementing the updated tariffs, the U.S. will impose taxes on products brought in from various trading partners around the world. This includes levying a 34% duty on items coming from China, a 20% levy on those arriving from the European Union, a 25% tariff on goods from South Korea, a 24% impost on those originating from Japan, and finally, a 32% rate applied to imports from Taiwan.
Imports from Canada and Mexico are still subject to a 25% tax rate following an executive order issued by Trump last month.
The stock market plunged At an unprecedented pace on Thursday and Friday due to the introduction of the new policy, which has been criticized for disproportionately affecting working and middle-class Americans. The S&P 500 experienced its most significant decline since March 2020, coinciding with the period when the COVID-19 pandemic led to widespread shutdowns across the nation’s economic activities.
On Thursday, JP Morgan upped its prediction increased the likelihood of a downturn happening soon from 40% to 60%.
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