Daily Summary
Summit Carbon Solutions’ plan to build a $9 billion carbon dioxide pipeline now faces legal and political obstacles in South Dakota, where aggressive eminent domain actions triggered a new state law and helped anti‐pipeline candidates win key legislative races. Meanwhile, U.S. tariffs announced under President Trump have unsettled global markets, causing a significant sell-off in U.S. stocks and fueling fears of a U.S. recession. Trading partners like China and the EU are preparing retaliatory measures, with China already imposing a 34% tariff on U.S. goods, further impacting economies in Asia.
Pipeline Company Faces Legal and Political Hurdles in South Dakota
Summit Carbon Solutions' $9 billion carbon dioxide pipeline faces significant obstacles in South Dakota after filing 156 eminent domain lawsuits led to a new state law and a political shift favoring anti-pipeline candidates.
Global Markets React to U.S. Tariffs Amid Recession Fears
U.S. tariffs announced on April 2, 2025, have unsettled global markets, triggering a sell-off in U.S. stocks and raising recession fears. With China now imposing a 34% duty on U.S. goods effective April 10, trading partners are preparing for further action.