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1. China responds to new US tariffs
China is the first of the countries included in President Donald Trump's "Liberation Day" tariffs to respond, announcing a 34% tax on United States imports, which mirrors the tariff Trump announced on the country. This is in addition to previous announced tariff actions.
The New York Times reported that in addition to the blanket tariff, China has deemed 11 American companies as “unreliable entities,” which will prevent them from doing business in China or with Chinese companies. China’s Ministry of Commerce is also enforcing a system "to restrict exports of seven rare earth elements that are mined and processed almost exclusively in China and are used in everything from electric cars to smart bombs."
Ultimately, China's tariffs will affect fewer goods than the Trump administration's tariffs since China sells more to the U.S. than it buys. Last year, China imported $147.8 billion American goods — semiconductors, fossil fuels, agricultural goods and more — and it sold $426.9 billion worth of smartphones, furniture, toys and many other products to the U.S., per the Times.
In the wake of China's response, stock markets continue to drop, with businesses directly linked to China — Apple, Qualcomm, Tesla, Caterpillar and more — seeing 5% or more declines, per CNBC.
2. Employment rises in March
The U.S. Bureau of Labor Statistics released its March numbers Friday, reporting that employment rose by 228,000. The unemployment rate was 4.2%, only a slight change to the figure, which has remained in a narrow range of 4% to 4.2% since May 2024.
However steady the jobs market has been, recent tariff announcements will have ripple effects on the economy, the New York Times reported.
“The strength of the consumer is coming down to the jobs market,” Sarah House, an economist at Wells Fargo, told the NYT. “And it’s increasingly perilous.”
“If the economy isn’t growing as fast, or it isn’t growing at all, you don’t need as many workers,” she continued.
3. Accor CEO on how hotels should navigate trying times
Accor Chairman and CEO Sébastien Bazin is urging European hoteliers to take it back to the basics of hospitality, encouraging them to prioritize local experiences and standout service amid global economic uncertainty from Trump's tariff announcements.
Bazin, speaking during an interview at the International Hotel Investment Forum EMEA earlier this week, said the intent to travel is still here.
“People will travel more and more domestically, not at the expense of international travel. I think every year there will be [for individuals] one trip less but over the year for two days more. The new generation is desperate to travel,” Bazin said, adding that he views Europe essentially as one destination with how easily people can travel across the continent.
4. Caribbean travel advisories grow
The U.S. State Department has expanded its list of Caribbean destinations that have elevated travel advisories. The Bahamas has a level 2 — "exercise increased caution" — warning, but the department updated it this week to “reflect crime, swimming-related risks, and information on traveling with firearms and ammunition,” as USA Today reported.
“Violent crime — like armed robberies, burglaries, and sexual assaults — can occur anywhere in The Bahamas. Most crime occurs in Nassau and Freeport on New Providence and Grand Bahama islands,” reads the travel alert. “Stay alert in the 'Over the Hill' area in Nassau, south of Shirley Street, where gangs have killed residents.”
Turks and Caicos Islands Travel Advisory also recently received a level 2 warning, but Trinidad and Tobago earned a level 3 — "reconsider travel" — advisory.
5. Marriott gets in formation with exclusive partnership for Beyoncé tour
Marriott International announced that Marriott Bonvoy is the exclusive hotel partner for Beyoncé's Cowboy Carter Tour, which begins on April 28 in Inglewood, California, and ends on July 26 in Paradise, Nevada.
Marriott hotels along the tour will have special pop-ups and packages. Bonvoy members also have the opportunity to enter into global sweepstakes that will make them VIPs at the concerts.
"This partnership goes beyond providing a place to stay — we have designed fun ways for Marriott Bonvoy's Beyoncé fans to immerse in shared experiences with friends and loved ones, and to enjoy more of the Cowboy Carter Tour — beyond the show," said Peggy Roe, executive vice president and chief customer officer at Marriott International.