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Trump gets no-penalty sentence in his hush money case, while calling it 'despicable'

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Trump gets no-penalty sentence in his hush money case, while calling it 'despicable'
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Trump gets no-penalty sentence in his hush money case, while calling it 'despicable'

2025-01-11 06:15 Last Updated At:06:21

NEW YORK (AP) — President-elect Donald Trump was sentenced Friday to no punishment in his historic hush money case, a judgment that lets him return to the White House unencumbered by the threat of a jail term or a fine.

With Trump appearing by video from his Florida estate, the sentence quietly capped an extraordinary case rife with moments unthinkable in the U.S. only a few years ago.

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President-elect Donald Trump appears on a video feed for his sentencing for for his hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Curtis Means/Pool Photo via AP)

President-elect Donald Trump appears on a video feed for his sentencing for for his hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Curtis Means/Pool Photo via AP)

Attorney Emil Bove, left, listens as attorney Todd Blanche and President-elect Donald Trump, seen on a television screen, appear virtually for sentencing for Trump's hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Jabin Botsford/The Washington Post via AP, Pool)

Attorney Emil Bove, left, listens as attorney Todd Blanche and President-elect Donald Trump, seen on a television screen, appear virtually for sentencing for Trump's hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Jabin Botsford/The Washington Post via AP, Pool)

Attorney Todd Blanche and President-elect Donald Trump, seen on a television screen, appear virtually for sentencing for Trump's hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Jabin Botsford/The Washington Post via AP, Pool)

Attorney Todd Blanche and President-elect Donald Trump, seen on a television screen, appear virtually for sentencing for Trump's hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Jabin Botsford/The Washington Post via AP, Pool)

President-elect Donald Trump appears on a video feed for his sentencing for for his hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Curtis Means/Pool Photo via AP)

President-elect Donald Trump appears on a video feed for his sentencing for for his hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Curtis Means/Pool Photo via AP)

U.S. President-elect Donald Trump appears remotely for a sentencing hearing in front of New York State Judge Juan Merchan in the criminal case in which he was convicted in 2024 on charges involving hush money paid to a porn star, at New York Criminal Court in Manhattan in New York, Jan. 10, 2025. (Brendan McDermid via AP, Pool)

U.S. President-elect Donald Trump appears remotely for a sentencing hearing in front of New York State Judge Juan Merchan in the criminal case in which he was convicted in 2024 on charges involving hush money paid to a porn star, at New York Criminal Court in Manhattan in New York, Jan. 10, 2025. (Brendan McDermid via AP, Pool)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A man impersonating President-elect Donald Trump walks outside Manhattan criminal court before the start of the sentencing in Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A man impersonating President-elect Donald Trump walks outside Manhattan criminal court before the start of the sentencing in Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A supporter for President-elect Donald Trump takes a photo of the Manhattan criminal courthouse before the start of the sentencing in Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A supporter for President-elect Donald Trump takes a photo of the Manhattan criminal courthouse before the start of the sentencing in Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A man crosses the street outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A man crosses the street outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

FILE - Judge Juan M. Merchan sits for a portrait in his chambers in New York, March 14, 2024. (AP Photo/Seth Wenig, File)

FILE - Judge Juan M. Merchan sits for a portrait in his chambers in New York, March 14, 2024. (AP Photo/Seth Wenig, File)

It was the first criminal prosecution and first conviction of a former U.S. president and major presidential candidate. The New York case became the only one of Trump's four criminal indictments that has gone to trial and possibly the only one that ever will. And the sentencing came 10 days before his inauguration for his second term.

In roughly six minutes of remarks to the court, a calm but insistent Trump called the case “a weaponization of government” and “an embarrassment to New York.” He maintained that he did not commit any crime.

"It’s been a political witch hunt. It was done to damage my reputation so that I would lose the election, and, obviously, that didn’t work,” the Republican president-elect said by video, with U.S. flags in the background.

After the roughly half-hour proceeding, Trump said in a post on his social media network that the hearing had been a “despicable charade.” He reiterated that he would appeal his conviction.

Manhattan Judge Juan M. Merchan could have sentenced the 78-year-old to up to four years in prison. Instead, Merchan chose a sentence that sidestepped thorny constitutional issues by effectively ending the case but assured that Trump will become the first president to take office with a felony conviction on his record.

Trump’s no-penalty sentence, called an unconditional discharge, is rare for felony convictions. The judge said that he had to respect Trump's upcoming legal protections as president, while also giving due consideration to the jury's decision.

“Despite the extraordinary breadth of those protections, one power they do not provide is the power to erase a jury verdict,” said Merchan, who had indicated ahead of time that he planned the no-penalty sentence.

As Merchan pronounced the sentence, Trump sat upright, lips pursed, frowning slightly. He tilted his head to the side as the judge wished him “godspeed in your second term in office.”

Before the hearing, a handful of Trump supporters and critics gathered outside. One group held a banner that read, “Trump is guilty.” The other held one that said, “Stop partisan conspiracy” and “Stop political witch hunt.”

Manhattan District Attorney Alvin Bragg, whose office brought the charges, is a Democrat.

The norm-smashing case saw the former and incoming president charged with 34 felony counts of falsifying business records, put on trial for almost two months and convicted by a jury on every count. Yet the legal detour — and sordid details aired in court of a plot to bury affair allegations — didn’t hurt him with voters, who elected him in November to a second term.

Beside Trump as he appeared virtually Friday from his Mar-a-Lago property was defense lawyer Todd Blanche, with partner Emil Bove in the New York courtroom. Trump has tapped both for high-ranking Justice Department posts.

Prosecutors said that they supported a no-penalty sentence, but they chided Trump's attacks on the legal system throughout the case.

“The once and future president of the United States has engaged in a coordinated campaign to undermine its legitimacy,” prosecutor Joshua Steinglass said.

Afterward, Trump was expected to return to the business of planning for his new administration. He was set later Friday to host conservative House Republicans as they gathered to discuss GOP priorities.

The specific charges in the hush money case were about checks and ledgers. But the underlying accusations were seamy and deeply entangled with Trump’s political rise.

Trump was charged with fudging his business' records to veil a $130,000 payoff to porn actor Stormy Daniels. She was paid, late in Trump’s 2016 campaign, not to tell the public about a sexual encounter she maintains the two had a decade earlier. He says nothing sexual happened between them and that he did nothing wrong.

Prosecutors said Daniels was paid off — through Trump's personal attorney at the time, Michael Cohen — as part of a wider effort to keep voters from hearing about Trump's alleged extramarital escapades.

Trump denies the alleged encounters occurred. His lawyers said he wanted to squelch the stories to protect his family, not his campaign. And while prosecutors said Cohen's reimbursements for paying Daniels were deceptively logged as legal expenses, Trump says that's simply what they were.

“For this I got indicted,” Trump lamented to the judge Friday. “It’s incredible, actually."

Trump's lawyers tried unsuccessfully to forestall a trial, and later to get the conviction overturned, the case dismissed or at least the sentencing postponed.

Trump attorneys have leaned heavily into assertions of presidential immunity from prosecution, and they got a boost in July from a Supreme Court decision that affords former commanders-in-chief considerable immunity.

Trump was a private citizen and presidential candidate when Daniels was paid in 2016. He was president when the reimbursements to Cohen were made and recorded the following year.

Merchan, a Democrat, repeatedly postponed the sentencing, initially set for July. But last week, he set Friday's date, citing a need for “finality.”

Trump's lawyers then launched a flurry of last-minute efforts to block the sentencing. Their last hope vanished Thursday night with a 5-4 Supreme Court ruling that declined to delay the sentencing.

Meanwhile, the other criminal cases that once loomed over Trump have ended or stalled ahead of trial.

After Trump's election, special counsel Jack Smith closed out the federal prosecutions over Trump’s handling of classified documents and his efforts to overturn his 2020 election loss to Democrat Joe Biden. A state-level Georgia election interference case is locked in uncertainty after prosecutorFaniWillis was removed from it.

Associated Press writer Adriana Gomez Licon in West Palm Beach, Florida, contributed to this report.

Follow the AP's coverage of President-elect Donald Trump at https://apnews.com/hub/donald-trump.

President-elect Donald Trump appears on a video feed for his sentencing for for his hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Curtis Means/Pool Photo via AP)

President-elect Donald Trump appears on a video feed for his sentencing for for his hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Curtis Means/Pool Photo via AP)

Attorney Emil Bove, left, listens as attorney Todd Blanche and President-elect Donald Trump, seen on a television screen, appear virtually for sentencing for Trump's hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Jabin Botsford/The Washington Post via AP, Pool)

Attorney Emil Bove, left, listens as attorney Todd Blanche and President-elect Donald Trump, seen on a television screen, appear virtually for sentencing for Trump's hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Jabin Botsford/The Washington Post via AP, Pool)

Attorney Todd Blanche and President-elect Donald Trump, seen on a television screen, appear virtually for sentencing for Trump's hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Jabin Botsford/The Washington Post via AP, Pool)

Attorney Todd Blanche and President-elect Donald Trump, seen on a television screen, appear virtually for sentencing for Trump's hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Jabin Botsford/The Washington Post via AP, Pool)

President-elect Donald Trump appears on a video feed for his sentencing for for his hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Curtis Means/Pool Photo via AP)

President-elect Donald Trump appears on a video feed for his sentencing for for his hush money conviction in a Manhattan courtroom on Friday, Jan. 10, 2025 in New York. (Curtis Means/Pool Photo via AP)

U.S. President-elect Donald Trump appears remotely for a sentencing hearing in front of New York State Judge Juan Merchan in the criminal case in which he was convicted in 2024 on charges involving hush money paid to a porn star, at New York Criminal Court in Manhattan in New York, Jan. 10, 2025. (Brendan McDermid via AP, Pool)

U.S. President-elect Donald Trump appears remotely for a sentencing hearing in front of New York State Judge Juan Merchan in the criminal case in which he was convicted in 2024 on charges involving hush money paid to a porn star, at New York Criminal Court in Manhattan in New York, Jan. 10, 2025. (Brendan McDermid via AP, Pool)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

Demonstrators protest outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A man impersonating President-elect Donald Trump walks outside Manhattan criminal court before the start of the sentencing in Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A man impersonating President-elect Donald Trump walks outside Manhattan criminal court before the start of the sentencing in Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A supporter for President-elect Donald Trump takes a photo of the Manhattan criminal courthouse before the start of the sentencing in Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A supporter for President-elect Donald Trump takes a photo of the Manhattan criminal courthouse before the start of the sentencing in Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A man crosses the street outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

A man crosses the street outside Manhattan criminal court before the start of the sentencing in President-elect Donald Trump's hush money case, Friday, Jan. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

FILE - Judge Juan M. Merchan sits for a portrait in his chambers in New York, March 14, 2024. (AP Photo/Seth Wenig, File)

FILE - Judge Juan M. Merchan sits for a portrait in his chambers in New York, March 14, 2024. (AP Photo/Seth Wenig, File)

BANGKOK (AP) — Sweeping new tariffs announced Wednesday by U.S. President Donald Trump provoked dismay, threats of countermeasures and calls for further negotiations to make trade rules fairer.

But responses were measured, highlighting a lack of appetite among key trading partners for an outright trade war with the world's biggest economy.

Trump said the import taxes, ranging from 10% to 49%, would do to U.S. trading partners what they have long done to the U.S. He maintains they will draw factories and jobs back to the United States.

“Taxpayers have been ripped off for more than 50 years,” he said. “But it is not going to happen anymore.”

Trump's announcement of a new 20% tariff on the European Union drew a sharp rebuke from European Commission President Ursula von der Leyen, who said it was a “major blow to the world economy.”

“The consequences will be dire for millions of people around the globe,” von der Leyen said. Groceries, transport and medicines will cost more, she said while visiting Uzbekistan, “And this is hurting, in particular, the most vulnerable citizens.”

Von der Leyen acknowledged that the world trading system has “serious deficiencies” and said the EU was ready to negotiate with the U.S. but also was prepared to respond with countermeasures.

The British government said the United States remains the U.K.’s “closest ally," and Business Secretary Jonathan Reynolds said the U.K. hoped to strike a trade deal to “mitigate the impact” of the 10% tariffs on British goods.

“Nobody wants a trade war and our intention remains to secure a deal," said Reynolds. "But nothing is off the table and the government will do everything necessary to defend the U.K.’s national interest.”

Japan, America's closest ally in Asia, plans to closely analyze the U.S. tariffs and their impact, Chief Cabinet Secretary Yoshimasa Hayashi said, while refraining from talk of retaliation. But he said the moves would have a big impact on relations with the U.S.

Italy’s conservative Premier Giorgia Meloni said the higher tariffs would benefit neither side.

“We will do everything we can to work towards an agreement with the United States, with the aim of avoiding a trade war that would inevitably weaken the West in favor of other global players,” Meloni said in a Facebook post.

Brazil, hit with a 10% tariff, said it was considering appealing to the World Trade Organization. Its congress unanimously passed a bill to allow retaliation for any tariffs on Brazilian goods.

Financial markets were jolted, with U.S. stock futures down by as much as 3% early Thursday and a 3.1% drop in Tokyo’s benchmark leading losses in Asia. Oil prices briefly sank more than $2 a barrel.

“The magnitude of the rollout — both in scale and speed — wasn’t just aggressive; it was a full-throttle macro disruption,” Stephen Innes of SPI Asset Management said in a commentary.

While the longer-term ramifications could encompass a dismantling of supply chains built up over decades, a more immediate concern is the higher risk of recession.

“The (average) U.S. tariff rate on all imports is now around 22%, from 2.5% in 2024. That rate was last seen around 1910," Olu Sonola, Fitch Ratings’ head of U.S. Economic Research, said in a report.

"This is a game changer, not only for the U.S. economy but for the global economy. Many countries will likely end up in a recession. You can throw most forecasts out the door, if this tariff rate stays on for an extended period of time,” Sonola said.

The burden falls heaviest on Asia-Pacific nations, with the highest tariffs for impoverished, financially precarious countries like Laos at a 48% tariff, Cambodia at 49% and Myanmar at 44%.

Asian countries that are among the biggest exporters to the U.S. pledged to act fast to support automakers and other businesses likely to be affected.

South Korean Prime Minister Han Duck-soo told officials to work with business groups to analyze the impact of the new 25% tariff to “minimize damage,” the trade ministry said.

China's commerce ministry said Beijing would “resolutely take countermeasures to safeguard its own rights and interests,” without saying exactly what it might do. With earlier rounds of tariffs China reacted by imposing higher duties on U.S. exports of farm products, while limiting exports of minerals used for high-tech industries such as electric vehicles.

“China urges the United States to immediately cancel its unilateral tariff measures and properly resolve differences with its trading partners through equal dialogue,” it said.

Mexican President Claudia Sheinbaum said she would wait to see how Trump’s announcement will affect Mexico, which like Canada was spared for goods already qualified under their free trade agreement with the United States, though previously announced 25% tariffs on auto imports took effect Thursday.

“It’s not a question of if you impose tariffs on me, I’m going to impose tariffs on you,” she said Wednesday morning. “Our interest is in strengthening the Mexican economy.”

Canada had imposed retaliatory tariffs in response to the 25% tariffs that Trump tied to the trafficking of fentanyl. The European Union, in response to the steel and aluminum tariffs, has imposed taxes on 26 billion euros’ worth ($28 billion) of U.S. goods, including bourbon, prompting Trump to threaten a 200% tariff on European alcohol.

Some countries took issue with the White House's calculations.

Australian Prime Minister Anthony Albanese said the tariffs were totally unwarranted, but Australia will not retaliate.

“President Trump referred to reciprocal tariffs. A reciprocal tariff would be zero, not 10%,” said Albanese. The U.S. and Australia have a free trade agreement and the U.S. has a $2-to-$1 trade surplus with Australia. “This is not the act of a friend.”

Trump said the United States bought $3 billion of Australian beef last year, but Australia would not accept U.S. beef imports. Albanese said the ban on raw U.S. beef was for biosecurity reasons.

A 29% tariff imposed on the tiny South Pacific outpost of Norfolk Island came as a shock. The Australian territory has a population of around 2,000 people and the economy revolves around tourism.

“To my knowledge, we do not export anything to the United States,” Norfolk Island Administrator George Plant, the Australian government’s representative on the island, told the AP Thursday. “We don’t charge tariffs on anything. I can’t think of any non-tariff barriers that would be in place either, so we’re scratching our heads here.”

“We don’t have a 20% tariff rate,” said New Zealand's Trade Minister Todd McClay. But he said New Zealand did not intend to retaliate. "That would put up prices on New Zealand consumers and it would be inflationary,” he said.

As Trump read the list of countries that would be targeted Wednesday, he repeatedly said he didn’t blame them for the trade barriers they imposed to protect their own nations’ businesses. “But we’re doing the same thing right now,” he said.

“In the face of unrelenting economic warfare, the United States can no longer continue with a policy of unilateral economic surrender,” Trump said.

Speaking from a business forum in India, Chilean President Gabriel Boric warned that such measures challenge “principles that govern international trade.”

Colombian President Gustavo Petro, who has clashed with Trump before, said via X that the tariffs marked a milestone: “Today the neoliberalism that proclaimed free-trade policies all over the world has died.”

Analysts say there’s little to be gained from an all-out trade war, neither in the United States or in other countries.

“If Trump really imposes high tariffs, Europe will have to respond, but the paradox is that the EU would be better off doing nothing,” said Matteo Villa, a senior analyst at Italy’s Institute for International Political Studies.

“On the other hand, Trump seems to understand only the language of force, and this indicates the need for a strong and immediate response,” Villa said. “Probably the hope, in Brussels, is that the response will be strong enough to induce Trump to negotiate and, soon, to backtrack.”

AP journalists around the world contributed to this story.

People walk past an electronic stock board showing the day's early loss of Japan's Nikkei 225 index at a securities firm Thursday, April 3, 2025 in Tokyo.(AP Photo/Shuji Kajiyama)

People walk past an electronic stock board showing the day's early loss of Japan's Nikkei 225 index at a securities firm Thursday, April 3, 2025 in Tokyo.(AP Photo/Shuji Kajiyama)

U.S. President Donald Trump is seen on a screen as currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, April 3, 2025. (AP Photo/Ahn Young-joon)

U.S. President Donald Trump is seen on a screen as currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, April 3, 2025. (AP Photo/Ahn Young-joon)

Containers are stacked at the Port of Los Angeles Wednesday, April 2, 2025, in Los Angeles. (AP Photo/Damian Dovarganes)

Containers are stacked at the Port of Los Angeles Wednesday, April 2, 2025, in Los Angeles. (AP Photo/Damian Dovarganes)

Cranes and shipping containers are seen at a port in Pyeongtaek, South Korea, Wednesday, April 2, 2025. (AP Photo/Ahn Young-joon)

Cranes and shipping containers are seen at a port in Pyeongtaek, South Korea, Wednesday, April 2, 2025. (AP Photo/Ahn Young-joon)

Employee Jon Vazquez-DeAnda cuts keys for a customer at employee-owned Devon Hardware, Wednesday, April 2, 2025, in Chicago. (AP Photo/Erin Hooley)

Employee Jon Vazquez-DeAnda cuts keys for a customer at employee-owned Devon Hardware, Wednesday, April 2, 2025, in Chicago. (AP Photo/Erin Hooley)

This photo shows vehicles bound for foreign countries at a logistics center in Kawasaki near Tokyo, Thursday, March 27, 2025. (Michi Ono/Kyodo News via AP)

This photo shows vehicles bound for foreign countries at a logistics center in Kawasaki near Tokyo, Thursday, March 27, 2025. (Michi Ono/Kyodo News via AP)

President Donald Trump departs after signing an executive order at an event to announce new tariffs in the Rose Garden of the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Evan Vucci)

President Donald Trump departs after signing an executive order at an event to announce new tariffs in the Rose Garden of the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Evan Vucci)

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein)

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein)

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden of the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Evan Vucci)

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden of the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Evan Vucci)

President Donald Trump holds a signed executive order during an event to announce new tariffs in the Rose Garden of the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Evan Vucci)

President Donald Trump holds a signed executive order during an event to announce new tariffs in the Rose Garden of the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Evan Vucci)

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington, as Commerce Secretary Howard Lutnick listens. (AP Photo/Mark Schiefelbein)

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington, as Commerce Secretary Howard Lutnick listens. (AP Photo/Mark Schiefelbein)

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