Nvidia commits $500 billion to expand U.S. AI manufacturing, Zuckerberg testifies as Meta’s antitrust trial begins, more news to start your day.

Less than an hour after President Donald Trump unveiled sweeping “Liberation Day” tariffs on dozens of countries, Denny Butler, a United Auto Workers local union vice president, received word that Stellantis would temporarily lay off 370 of his members.

Uncertainty over tariffs has placed a pall over financial markets and fueled concerns of inflation and a possible recession.

In his first major action on health care costs this term, President Donald Trump issued a multi-part executive order on Tuesday aimed at lowering drug prices and reducing costs for Medicare. The move comes as his administration seeks to impose tariffs on pharmaceutical imports that many experts have said could lead to drug shortages and price hikes.

President Trump said Monday that he is going to impose new tariffs on pharmaceuticals soon. “Pharmaceuticals we’re going to do,” he said. "The higher the tariff, the faster they come. We’re going to be doing that.