The U.S. trade deficit soared to a record $140.5 billion in March as consumers and businesses alike tried to get ahead of President Donald Trump's latest and most sweeping tariffs — with federal data showing an enormous stockpiling of pharmaceutical products.

President Donald Trump’s tariffs rollout is frustrating U.S. companies’ planning for the rest of the year, preventing some corporate giants from telling investors what to expect and scrambling the broader outlook for stocks.

Newsom’s proposal comes a day after Trump announced plans to impose a 100% tariff on films shot outside the U.S.

The proposed tax incentive would be separate from the California state tax credits Newsom is trying to enact, including the proposal announced in October expand the state's Film & Television Tax Credit Program to $750 million annually.

Just a day after Donald Trump revealed his plan to impose 100% tariffs on “any and all” films produced in “foreign lands,” California Gov. Gavin Newsom said he wants to collaborate with the President to create a $7.