The John Lothian News Daily Podcast for April 4, 2025, opened with a focus on the futures industry's opposition to transaction taxes. John Lothian explained that such taxes would raise costs, widen bid-ask spreads, and damage market liquidity—drawing a parallel to the broader economic frictions caused by tariffs imposed by Donald Trump’s administration. Trump's new 25% tariff on European beer imports, highlighted in a Financial Times report, blindsided brewers like AB InBev, Heineken, and Molson Coors, with warnings of job losses and brewery closures across Europe. Further analysis from the Financial Times’ Ian Harnett warned that Trump’s "weaponized trade" strategy could escalate into "weaponized capital," reducing international investment flows and risking the reintroduction of capital controls. The podcast also highlighted Intercontinental Exchange's (ICE) community service initiatives in Atlanta’s Westside, led by Chris Edmonds, and featured Barry Ritholtz’s appearance on IEX’s Boxes and Lines podcast, where he discussed his new book, How Not to Invest, and shared insights into common investment mistakes. Industry news included FTSE Russell’s expansion beyond equities into options, digital assets, and commodities, revealed at FIA Boca50 by executives Tom Jenkins and Shawn Creighton. Eurex promoted Rafael Zanatta to head of exchange-traded derivatives liquidity management, and Laurie McAughtry of Euromoney received recognition as State Street’s Journalist of the Year. Market tensions over tariffs persisted, with headlines noting concerns from Goldman Sachs, new AI initiatives from the BIS, and strong volume growth at Eurex. The podcast concluded by covering the market turmoil triggered by Trump's tariff policies, the Senate Banking Committee’s advancement of Paul Atkins for SEC Chair, and sharp stock declines among major private equity firms such as Blackstone and KKR. John Lothian closed the episode by encouraging listeners to treat others with respect, equality, and justice, reinforcing the values critical to both markets and community life.