U.S. and world news for April 2

Trump expected to impose new tariffs on certain pharmaceutical drugs

(CNN) — President Donald Trump plans to impose new tariffs on pharmaceutical companies that have not struck deals to sell their drugs directly to consumers as part of his “Most Favored Nation” pricing initiative. The forthcoming tariffs are expected to apply to imports of patented drugs and their active ingredients, according to a draft of an order obtained by CNN. Those medications would be hit with a 100% tariff, according to the draft order, while providing some pathways for drugmakers to reduce or avoid those levies if they negotiate a deal with the administration or move their production to the US. The draft order is not final and could still change. It is also unclear whether certain types of medications would be exempted. But Trump is expected to roll out the new tariffs as soon as Thursday afternoon, according to a person familiar with the matter. The White House did not immediately respond to a request for comment. Bloomberg first reported the planned tariffs. The new drug tariffs would represent an initial step toward Trump’s pledge to reconstruct his aggressive trade strategy after the Supreme Court ruled in February that some of his most significant and far-reaching tariffs were unconstitutional. Trump has sharply criticized the ruling and insisted that he will use new regulatory avenues to re-impose a broad swath of tariffs, despite concerns within the GOP that the levies will drive prices even higher for Americans.

Man facing deportation can stay in the United States, judge rules

State College, Pennsylvania (CNN) — A man in ICE custody since his murder conviction was overturned last year can stay in the United States, an immigration judge has ruled. Subramanyam Vedam, 64, spent over 40 years in prison before his conviction was vacated in August. A day after the charges were dropped, he was taken into custody by Immigration and Customs Enforcement. Vedam was rehabilitated in prison, dedicating himself to enriching others’ lives through his academic study and mentoring four nieces he came to know only behind bars, Immigration Judge Adam Panopoulos said Thursday. The case has unfolded at a moment of high tension across the nation’s immigration system as a White House push to reshape the country has made the odds of overcoming deportation tougher. In Vedam’s case, the immigration judge could have ruled for the respondent, known as “Subu,” to be deported to India, which he left as an infant. His sister, Saraswathi Vedam, had testified Wednesday in support of him staying in the United States.

Oil prices jump on fresh fears of escalation in Iran war

London (CNN) — Oil prices climbed and stocks slipped Thursday, after inflammatory remarks by US President Donald Trump and Iranian officials sparked fears that the conflict could still escalate significantly. Brent crude, the global oil benchmark, rose 8% to $109 a barrel. WTI, the US benchmark, surged 13% to $113 a barrel. Stock markets fell, after gains earlier in the week. South Korea’s Kospi led declines in Asia, closing 4.5% lower. In Europe, major indexes were overwhelmingly in the red, and leading US indexes traded lower. Market sentiment “deteriorated overnight,” following the televised address by Trump, which delivered no clarity “on potential timelines or conditions for ending hostilities against Iran,” Deutsche Bank analysts wrote in a note. “There was no signal of the US seeking an imminent offramp out of the war,” they added. Speaking from the White House Wednesday, Trump at once said that the war against Iran was “nearing completion” and that the United States would “hit Iran extremely hard over the next two to three weeks.” In response, Tehran threatened to retaliate with “more extensive and destructive actions.” Trump also renewed his threat to bomb Iran’s power plants if Tehran didn’t agree to US demands and signaled he was willing to end the war without restoring shipping through the Strait of Hormuz. That job, he said, should fall to countries that “desperately depend” on the oil that ordinarily flows through the waterway.

Senate passes bill to partially reopen DHS, teeing up future House vote

(CNN) — The Senate on Thursday unanimously approved a bill to partially reopen the Department of Homeland Security, a step toward ending the longest-ever partial government shutdown. The measure, which does not include funding for Immigration and Customs Enforcement and border patrol, now goes back to the House, where GOP members snubbed it last week and approved an entirely different plan that fully funded DHS. The House is expected to consider the partial-funding measure this time, after Speaker Mike Johnson announced a two-track plan with Senate Majority Leader John Thune on Wednesday. Under the ambitious agreement, GOP leaders said they would move to end the partial shutdown by partially reopening DHS and then pursue a second, larger bill this spring that will include spending for the president’s immigration and border agenda. It’s not clear when the House will vote to pass the DHS funding bill that they had initially rejected, and approving any broader agenda bill will be a significant test for GOP leaders who are facing Congress’ tight margins just months out from the midterm elections. Both chambers are out on their two-week recess Easter and Passover recess but have been convening brief “pro forma” sessions. The House did not take up the Senate-approved funding bill during its session on Thursday, ultimately adjourning until Monday.

The NFL, Topps come back together for the first time in 10 years

(CNN) — The NFL is coming back to Topps as both the league and the iconic company look to capitalize on the trading card boom. The league, Topps’ owner Fanatics Collectibles and the NFL Players Association announced on Thursday that the league is once again making Topps its exclusive trading card licensee. It’s the first time since 2016 that Topps will be designing and developing trading cards for the NFL, serving as a major win for a company that has long been one of the top names in the trading card industry. “I feel like we’ve been getting ready for this moment for four years now, and it’s finally here, and it’s really exciting,” Fanatics Collectibles CEO Mike Mahan told CNN Sports. “It’s the culmination of a lot of hard work, and we feel very enthusiastic about the products we have coming and how it’s going to be received by collectors and fans. And so that’s very gratifying.” The trading card industry is currently enjoying a boom period that Mahan and others attribute to the sudden search for new hobbies amid the Covid-19 lockdowns. But unlike other industries that saw a receding of the tide as life returned to normal, the business for trading cards has only grown and rare cards are regularly being bought and sold for thousands – and sometimes millions – of dollars. The renewed partnership between the NFL and Fanatics aims to not only capitalize on that increased interest in one of America’s longest sporting-adjacent industries but take it to new places. Among the immediate innovations will be a series of one-of-one cards that are sure to be highly sought after by collectors. When the 2025 Topps Chrome Football set is released on April 15, Topps and the NFL will debut the new Rookie PREM1ERE Patch Autograph Cards and the NFL Honors Gold Shield Autograph Cards.