CNBC

As President Donald Trump announced wide-ranging "reciprocal tariffs" on more than 180 countries and territories, CNBC's Jim Cramer said on Wednesday that the president cares more about punishing America's trading partners than appeasing investors. By including U.S. allies in the tariff hit, Trump shows his willingness to "disrupt everything" in order to teach other countries a lesson, Cramer argued. "Ultimately, I think we've been looking at this president all wrong," Cramer said. "This president turns out to be an equal-opportunity hater. He doesn't care what these countries do. Ultimately, he thinks they can't really hurt us. Why? Because they don't buy much of our stuff anyway." Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter.

Emily Levine, executive vice president at recruitment firm Career Group Companies, has seen many a job candidate. Levine's clients include high net worth individuals like A-list celebrities, for whom she finds personal assistants, chiefs of staff, nannies, and more. "I definitely have interviewed thousands and thousands of people throughout my 15-year career," she says. Each interview process starts with a resume, which needs to convince Levine she should move forward with that candidate. "If the resume is not presentable," she says, that can prevent her from passing it along. Here are two of her biggest red flags.

Treasury Secretary Scott Bessent said Wednesday the sell-off in the stock market is due more to a sharp pullback in the biggest technology stocks instead of the protectionist policies coming from the Trump administration. "I'm trying to be Secretary of Treasury, not a market commentator. What I would point out is that especially the Nasdaq peaked on DeepSeek day so that's a Mag 7 problem, not a MAGA problem," Bessent said on Bloomberg TV Wednesday evening. Bessent was referring to Chinese AI startup DeepSeek, whose new language models sparked a rout in U.S. technology stocks in late January. The emergence of DeepSeek's highly competitive and potentially much cheaper models stoked doubts about the billions that the big U.S. tech companies are spending on AI.

Amazon submitted a bid to the White House to purchase the social media app TikTok from its Chinese owners, CNBC has confirmed. The company sent its proposal in a letter this week to Vice President JD Vance and Commerce Secretary Howard Lutnick, according to a source familiar with the matter. The company’s offer, which was first reported by The New York Times, comes as TikTok’s fate in the U.S. is up in the air. cnb.cx/3QYOaWQ

CNBC’s Megan Cassella reports on the industries the White House says are exempt from this round of tariffs. Find more: cnb.cx/3QZuPot

Apple slid almost 6% in late trading on Wednesday and led a broader decline in tech stocks after President Donald Trump announced new tariffs of between 10% and 49% on imported goods. The majority of Apple's revenue comes from devices manufactured primarily in China and a handful of other Asian countries. Nvidia, which manufactures new chips in Taiwan and assembles its artificial intelligence systems in Mexico and elsewhere, fell about 4%, while electric vehicle company Tesla dropped 4.5%. Across the rest of the megacap universe, Alphabet, Amazon and Meta all fell between 2.5% and 5%, and Microsoft was down by almost 2%.

President Trump is imposing a 54% total tariff rate on imports from China, effective April 9, a White House official said. Chinese imports had already been subject to 20% tariffs. Another 34% in reciprocal tariffs is being put on top of that, the official said. The White House also unveiled a baseline tariff rate of 10% on all countries that goes into effect April 5. cnb.cx/3QZuPot

President Donald Trump signed an aggressive and far-reaching “reciprocal tariff” policy at the White House. The plan imposes steep tariff rates on many countries, including 34% on China, 20% on the European Union, 46% on Vietnam and 32% on Taiwan. Read more here: cnb.cx/3QZuPot

Amazon submitted a bid to the White House to purchase the social media app TikTok from its Chinese owners, CNBC has confirmed. The company sent its proposal in a letter this week to Vice President JD Vance and Commerce Secretary Howard Lutnick, according to a source familiar with the matter who asked not to be named because the discussions are confidential. The parties aren't treating the bid seriously, however, given that it was submitted just days before a deadline staving off a U.S. ban is set to expire, the person said. Amazon declined to comment.

"We will charge them approximately half of what they are and have been charging us," President Trump said of his reciprocal tariff plan on Wednesday. Trump showed off a chart outlining the reciprocal tariffs that he’s imposing on various countries. Find more: cnb.cx/3QZuPot