(4 Apr 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Newport Beach, California – 04 April 2025
1. Various of retiree Dave Miles, 70, playing pickleball
2. SOUNDBITE (English) Dave Miles, retiree:
++PARTIALLY COVERED++
"Maybe because of the market going down- whatever it’s gone down- 8% let’s say in the last two days, you know, maybe I’ve lost $100,000. So, I mean, that’s not going to break me, but it concerns me."
3. A sign for the pickleball courts
4. Wide of Dave Miles playing pickleball
5. SOUNDBITE (English) Dave Miles, retiree: ++PARTIALLY COVERED++
"My impression is that America has to be prepared to be in a global economy and I’m not sure tariffs are the way to attack that. Especially not doing it so quickly. Perhaps doing it in smaller pieces would be the way to go."
6. Various of Miles on the pickleball court
7. SOUNDBITE (English) Dave Miles, retiree: ++PARTIALLY COVERED++
"It is a shock and I actually expected things maybe to start itching up today. So to see it drop some more is a little disconcerting and so, yeah, what will tomorrow bring- who knows?"
8. A sign for the Oasis Senior Center
9. Retirees play guitars during a music class at the center
10. SOUNDBITE (English) Eddie Elowe, retiree: ++PARTIALLY COVERED++
"I think that this administration is blind to the average guy and doesn’t consider what the quality of life is gonna be while all these tariffs are in effect."
11. Retiree Eddie Elowe, 73, with his guitar
12. A song sheet
13. A retiree plays the guitar
14. SOUNDBITE (English) Eddie Elowe, retiree: ++PARTIALLY COVERED++
"This feels like a catastrophe to me. It doesn’t just feel like an adjustment. And I think that we won’t know the real effects of this for a couple of years."
15. WIDE of the music class
STORYLINE:
The trade wars launched by U.S. President Donald Trump are escalating to new heights. Just days after Trump unveiled sweeping new “reciprocal” tariffs on imports from around the world, China levied a retaliatory 34% tariff on all U.S. products starting April 10.
Stock markets worldwide have plummeted to even further lows, with the S&P 500 closing its worst week since 2020.
The market worries weighed on investors and retirees, including Eddie Elowe, 73, during a senior center music class in Newport Beach, California.
"This feels like a catastrophe to me. It doesn’t just feel like an adjustment," said Elowe. "I think that we won’t know the real effects of this for a couple of years."
Economists warn that the tariffs will raise the prices of products consumers buy each day.
Retiree Dave Miles, 70, reflected on the market downturn while playing pickleball in Newport Beach.
"It is a shock and I actually expected things maybe to start itching up today," said Miles. "So, yeah, what will tomorrow bring- who knows?"
As businesses face higher costs, some say the Americans could see layoffs, slowed hiring and lower incomes in the future. Meanwhile, Trump has continued to defend his policies.
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