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Dissent on the trade war

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  • In today’s CEO Daily: Diane Brady on the dissenters to Trump’s trade war
  • The big story: Recession?
  • The markets: A brief moment of calm.
  • Analyst notes from Goldman Sachs, Convera, and EY on the Fed; and Wedbush on Apple.
  • Plus: All the news and watercooler chat from Fortune.

Good morning. As I detailed last week, President Trump’s ongoing trade wars have dented the confidence of at least one block of constituents: CEOs, who are increasingly worried about the economy.

While some industries may ultimately gain from tariffs, the short-term disruption is difficult to navigate. My colleague Shawn Tully has taken a closer look at the impact that trade wars could have on the U.S. economy. First, he examined President Trump’s focus on the trade deficit and spoke with several noted economists, such as Stanford’s John Cochrane, who argues that “it’s not clear why a trade deficit’s a problem in the first place, because nations are reinvesting the dollars we send them right back in the U.S.”

Second, Tully points to some fundamental truths about tariffs. They are a tax borne mainly by U.S. consumers, they are likely to hurt growth and increase unemployment, they will not reduce the trade deficit or the federal budget deficit, and most important, in my view—he debunks the narrative that we’re getting fleeced by conniving, protectionist trading partners.

I’m excited to speak tomorrow with Canada’s Minister of Transport and Internal Trade Chrystia Freeland, who also recently served as deputy prime minister and finance minister. She will be joining us at Fortune’s CEO dinner in New York, where we will also chat with former Transportation Secretary Elaine Chao and former Commerce Secretary Wilbur Ross. It’s sure to be a lively discussion, with tariffs and trade certain to be on the menu.

More news below.

Contact CEO Daily via Diane Brady at diane.brady@fortune.com

This story was originally featured on Fortune.com



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The dangerous side of popular sleep and anxiety drugs like Xanax and Lorazepam

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If you’ve been HBO’s new season of White Lotus, then you’ve seen Parker Posey’s character Victoria Ratliff popping a steady stream of Lorazepam while on a family vacation at a Thailand wellness resort, at one point comically declaring, “Someone stole my Lorazepam. I’m going to have to drink myself to sleep.” 

The drug, also known under the brand name Ativan, is part of a class called benzodiazepines, which also includes Xanax and Klonopin. Only available through prescription, they are used to help relieve anxiety and muscle spasms, and reduce seizures, according to the DEA. However, as seen in the show, they can lead to dependence and overuse. 

“We definitely see that a lot in real life as well,” Dr. Ian Neel, a geriatrician at UC San Diego Health, tells the New York Times about the class of drugs.

Of the over 30 million adults who reported using benzodiazepines in the last year, over 5 million misused them (described as “any way a doctor did not direct”), per 2019 data from the National Survey on Drug Use and Health

While some people may have taken a one-time Xanax to calm flight anxiety, for example, long-term use is what poses the most danger as it can lead to dependence. People can become dependent even when taking the prescribed amount, Dr. Ludmila De Faria, chair of the American Psychiatric Association’s council on women’s mental health, told the New York Times. 

Particularly important is the appeal of “benzos” to older adults: Those ages 50 to 64 are the biggest consumers of this class of drugs, according to the 2019 study, and need to use extra caution due to the drugs’ potential effects on slowing cognition.

The class of drugs slows down the nervous system and often takes an immediate effect. And while they are generally safe when taken as prescribed for a limited time, side effects include drowsiness, memory problems, and slurred speech. Overuse can cause worsened effects, including dependence, cognitive impairment, coma, and potential death, although rare. 

Neel cautioned that older adults may metabolize drugs differently, and should be aware of the potential for negative interactions with other medications and drugs they might be taking. Combining benzodiazepines with other depressants like alcohol, for example, can exacerbate feelings of sedation, as seen on White Lotus, as Posey’s character usually pops Lorazepam with a glass of wine. 

When regular users of benzodiazepines—often called benzos—try to wean off the drugs, it’s common to experience withdrawal symptoms, like sweating, headaches, and heart palpitations according to the American Addiction Centers

“Each benzodiazepine medication has a specific half-life that influences the length of time it takes for the drug to leave the bloodstream,” according to the Center. “If an individual is dependent on a benzo, once the drug is purged from the body, withdrawal may begin.” 

It’s important to talk to a medical doctor and a mental health professional if you think you’re experiencing any withdrawal symptoms or negative side effects from benzodiazepines because there are other ways to treat anxiety and sleep orders. “The first-line treatment [for anxiety] is typically antidepressants like SSRIs [antidepressants], plus psychotherapy,” Dr. David Merrill, a geriatric psychiatrist at Providence Saint John’s Health Center in Santa Monica, Calif. told Healthline.

For more on sleep, mental health, and more:

This story was originally featured on Fortune.com



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Computer-programming employment in U.S. falls to lowest since 1980

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A CEO says his solar-panel company bought a new Tesla every year since 2021, but canceled his order for 15 new cars because the United States is a ‘country closing in on itself’

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U.S. President Donald Trump and White House Senior Advisor, Tesla and SpaceX CEO Elon Musk sit in a Tesla Model S on the South Lawn of the White House on March 11, 2025 in Washington, DC. Trump spoke out against calls for a boycott of Elon Musk’s companies and said he would purchase a Tesla vehicle in what he calls a ‘show of confidence and support’ for Elon Musk.

Andrew Harnik—Getty Images



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