Memo: Liberation Day?

Hi ZipLawyer! Today’s Memo:

🇺🇸 Trump’s “Tariff Liberation Day”
🚗 Tesla’s Euro Skid
🏘️ Reeves’ £2bn Housing Pledge
💊 Shoosmiths, Bird & Bird lead listing
🦠 TUI Sued Over Holiday Illness
📈 What is AIM

Trump’s Tariff ‘Liberation Day’

President Trump is revving up for his self-declared “Tariff Liberation Day” on April 2, promising a wave of new duties on car imports—plus sector-specific hits on semiconductors, pharmaceuticals, and even Venezuelan oil. But in true Trump style, the plan is... fluid. While he’s threatening steep tariffs, he’s also teasing “breaks” for certain countries, admitting he’s too “embarrassed” to match what they charge the US. Markets wobbled, allies panicked, and trade officials from India to the EU are lining up for last-minute exemptions. As Trump puts it, you’ll “hear all about it” soon. Investors, brace yourselves.

• 🤦 Awkward moment: Ever texted someone accidentally and instantly regretted it? Top Trump officials did. They were accidentally caught red-handed planning airstrikes on the Houthis—and slamming European allies while they were at it. A Signal group chat between VP JD Vance, Defense Secretary Pete Hegseth, and others revealed private disdain for “European free-loading,” with one message reading, “It’s PATHETIC.” Even more awkward? They accidentally looped in The Atlantic’s editor. Oops.

Tesla’s Eurotrip Turns Into a Skid

Tesla is hitting the brakes in Europe—hard. The EV giant saw a 40% drop in February sales and is down 43% for the year so far, wildly off-track compared to a 31% rise in industrywide EV registrations. Blame delays on the new Model Y rollout, paused factory lines, and possibly Elon Musk’s increasingly Trump-y political antics, which haven't exactly won over European consumers.

With competition heating up from budget-friendly rivals like Renault’s €25k R5 and Citroën’s ë-C3, and China’s BYD muscling in, Tesla’s once-tight grip on the continent is slipping. Investors will be watching closely to see if the refreshed Model Y can steer sales back on course—or if Musk’s politics have turned off more than just Berlin’s factory lights.

Reeves Dangles £2bn Housing Lifeline Amid Spending Cuts

Chancellor Rachel Reeves has pledged £2bn for social and affordable housing—just in time to soften the blow of a Spring Statement packed with budget cuts. The cash injection, aimed at building up to 18,000 new homes, comes as Reeves faces internal backlash over plans to slash £5bn in welfare and trim departmental budgets across the board.

Shoosmiths, Bird & Bird lead on go-public deal