Mattel said it may have to change its pricing in the US.
AP Images / Alan Diaz
Mattel said it may have to adjust toy prices because of President Donald Trump's tariffs on China.
Trump hit China with a 145% tariff. The US imports nearly 80% of its toys from China.
Mattel's CEO said he expects 40% to 50% of their products to be priced at $20 or less.
Mattel's iconic Barbies may be getting more expensive.
The California-based toy manufacturer said it may have to adjust its prices in the US to offset President Donald Trump's tariffs.
Mattel's CEO, Ynon Kreiz, said in a Monday earnings call with investors that the company was taking a three-pronged approach to offset the impact of Trump's tariffs.
"Accelerating diversification of our supply chain and further reducing reliance on China-sourced products, optimizing product sourcing and product mix, and where necessary, taking pricing action in our US business," Kreiz said.
Kreiz added that China, which Trump has hit with a 145% tariff, "continues to be an important sourcing country" for Mattel. However, the company is increasingly shifting its production to other countries, he added. Kreiz said that even with pricing adjustments, he expects the products to stay affordable.
"Under the current scenarios we are considering, we expect that 40% to 50% of our product will be priced at $20 or less," he said.
At press time, Barbie dolls listed on Target ranged from $6.99 to $174.99 in the US. The expensive dolls come with more accessories.
Last week, Trump was asked if his tariffs would result in empty store shelves. The US imports nearly 80% of its toys from China, per data from the Toy Association, a trade association for the US toy industry.
"Well, maybe the children will have two dolls instead of 30 dolls, and maybe the two dolls would cost a couple of bucks more than they would normally," Trump told reporters at the White House.
Trump repeated his opinion during an interview with NBC News' "Meet the Press," which aired Sunday.
"I'm just saying they don't need to have 30 dolls. They can have three. They don't need to have 250 pencils. They can have five," Trump said.
"We don't have to waste money on a trade deficit with China for things we don't need, for junk that we don't need," Trump added.
In the same interview with NBC News, Trump said he would eventually try to resolve trade tensions with China.
"At some point, I'm going to lower them because otherwise, you could never do business with them. And they want to do business very much," Trump said.
Representatives for Mattel did not respond to a request for comment from Business Insider.
The US and China have gone back and forth, issuing incremental, retaliatory tariffs on each other for days. As of Thursday, the US tariffs on goods from China stand at 145%. China has retaliated with a 125% tariff on US imports.
The tone of TikTok users on the two sides of the trade war is starkly different.
Chinese manufacturers proudly tout locally made goods
Some China-based TikTok users have been taking to TikTok to tout the quality of products made by Chinese factories.
While it's unclear where these TikTok users are posting from, manyof their videos contain endorsements of China-made products that they say are essential to the supply chains of Western companies.
A TikTok user who posts under the handleLunasourcingchina regularly shares videos in which she talks about the Chinese suppliers behind brands like Sephora and Zara.
In a recent video, she talked extensively about the tariffs and how factories and businesses in China will simply pass the costs downstream.
"Factories won't absorb the losses. They are not in the business of losing money, and importers won't take the hit either; they'll just pass the costs down the supply chain," she said.
A TikTok user who posts asSenbags says he is a custom bag maker from Guangzhou, China. He jumped on the tariff TikTok bandwagon, promoting his business. In a TikTok video that's been viewed 2.7 million times, he said the quality of his bags could match those sold by Western luxury brands.
And it's not just TikTok -- the trade war has also spilled over into Chinese social media.
One striking, AI-generated meme shows President Donald Trump, dressed in a suit and red tie, sitting behind a sewing machine in a garment factory assembling what appears to be a red MAGA hat. These posts have gone viral across Chinese social media platforms from RedNote to Weibo.
This flood of Chinese TikTok content has caught the attention of US-based TikTok users, who've said pro-Chinese manufacturing content has flooded the platform and their for-you pages.
"The tik tok trade war is fashion history in real time," wrote one TikTok user commenting on the Chinese manufacturers' videos.
"They probably should have took this app away when they had the chance," said TikTok user Imani B in a video that's been liked over 630,000 times. "The way that the Chinese manufacturers are playing their hand? Well done. 10s across the board."
US business owners worried about rising costs
In the US, somebusiness owners are posting videos on TikTok about how the tariffs will hurt their companies.
TikTok user Chelsey Brown, who owns a small business selling home goods, posted a TikTok last week saying she would have to temporarily close down her shop because of the tariffs.
"We have one last shipment on the way. It's not subject to the new 145% tariff, but we still have to pay the 54% tariff on it — and that alone will wipe out the rest of our cash," she wrote in the caption.
Curio Blvd is temporarily closing due to the tariffs. We have one last shipment on the way. It’s not subject to the new 145% tariff, but we still have to pay the 54% tariff on it—and that alone will wipe out the rest of our cash. The rest of our inventory is already designed and manufactured, but it’s sitting at our factory because we can’t afford to bring it over with these new tariff rates 🥺 If you’re new here, I started this brand after years of returning lost heirlooms—Holocaust letters, war diaries, love notes—to families who thought they were gone forever. That work inspired me to create meaningful home goods and keepsakes for people navigating grief, loss, and illness. If you pre-ordered the Keepsake Case, the E2, the photo album, or the bedding line, don’t worry—those are either already in stock or arriving on the ship that’s currently en route. Once something is truly out of stock, we’ll be taking down the pre-order option, and you simply won’t be able to place an order anymore. If you’re able to order now, that means we still have it. But once it says sold out, that means there’s nothing else on the way. We haven’t raised our prices over the last few weeks because we still want people going through grief, loss, or illness to be able to access these products. At this point, once I pay the tariff, all of our cash is gone—and raising prices now wouldn’t fix what’s already happened. So I’m keeping the code CURIO20 live for 20% off, for as long as we can ❤️💔 #tariffs#tariff#smallbusiness
Beth Pratt, a Denver-based baker who sources her cookie packaging from a company in Shanghai, told BI the tariffs would "100%" affect her.
"Yes, I buy my bags from China, which means my business is being impacted by the tariffs imposed by the current administration," Pratt said in a video on TikTok.
Andrew Chan, a small fashion business founder of 3sixteen, took to TikTok on April 4 to talk about how Trump's tariffs will likely increase costs and uncertainty for his business and lead to the potential deterioration of its overseas market.
"We're most concerned about Japan because all of our denim is woven there, and then it's brought over to the States where we cut and sew them into jeans and jackets," he said in the video. Japan was hit with a 24% tariff on April 9.
A rapidly escalating trade war
On April 2, President Donald Trump announced tariffs on over 180 countries on what he called "Liberation Day."
The pause, however, does not apply to China, which faces a 145% tariff.
On Friday, US Customs and Border Protection said certain tech products, such as smartphones and computers, are exempt from the recently announced tariffs.
"There was no Tariff 'exception' announced on Friday. These products are subject to the existing 20% Fentanyl Tariffs, and they are just moving to a different Tariff 'bucket,'" Trump wrote on Truth Social.
China's commerce ministry said on Sunday that Trump should stop imposing reciprocal tariffs on countries.
"We urge the US to heed the rational voices of the international community and its domestic stakeholders, take a big step to correct its mistakes, completely abolish the erroneous practice of 'reciprocal tariffs,' and return to the right path of resolving differences through mutual respect and dialogue," the statement said.
Defense Secretary Pete Hegseth cut $5.1 billion in IT and consulting contracts.
Kevin Dietsch/Getty Images
US Defense Secretary Pete Hegseth axed $5.1 billion in IT and consulting contracts.
This includes contracts with companies like Accenture and Deloitte.
He said the terminations "represent $5.1 billion in wasteful spending" at the DOD.
The US's defense secretary, Pete Hegseth, just ordered the termination of IT and consulting contracts with companies like Accenture and Deloitte, calling it "wasteful spending."
In a Department of Defense memo, Hegseth said he would cut a Defense Health Agency contract "for consulting services from Accenture, Deloitte, Booz Allen, and other firms that can be performed by our civilian workforce."
Also on the chopping block is the Air Force's contract with Accenture to "re-sell third-party Enterprise Cloud IT Services," which Hegseth says the government can "already fulfill directly with existing procurement resources."
In the memo, Hegseth also said he was terminating 11 other contracts for "consulting services" that support "non-essential" activities, like Diversity, Equity and Inclusion (DEI), climate matters, and the Pentagon's COVID-19 response.
Hegseth said the terminations "represent $5.1 billion in wasteful spending" at the DOD and would result in nearly $4 billion in savings.
The savings would be reallocated, Hegseth said, to serve "critical priorities to Revive the Warrior Ethos, Rebuild the Military, and Reestablish Deterrence."
He did not specify in his memo which Pentagon projects this money would go to.
In response to a request for comment, the DOD directed Business Insider to an X video of Hegseth talking about the terminations.
"By the way, we need this money to spend on better healthcare for our warfighters and their families, instead of $500 an hour business process consultant. That's a lot of consulting," Hegseth said in the video.
"So we want to thank our friends at DOGE. We want to thank all the folks here that have helped us unpack this, reveal it, and we're excited to make these cuts on behalf of you, the taxpayer and the warfighters at the Department," Hegseth said in his X video.
"The Pentagon recently failed its seventh consecutive audit, suggesting that the agency's leadership has little idea how its annual budget of more than $800 billion is spent," the pair wrote.
Last month, Hegseth announced that the Defense Department was terminating over $580 million in programs, contracts, and grants that DOGE had identified as wasteful spending.
Representatives for Accenture, Deloitte, and Booz Allen did not immediately respond to requests for comment from BI.
World leaders are slamming Trump's "Liberation Day" tariffs, and some countries like China are vowing retaliation.
Andrew Harnik/Getty Images
President Donald Trump has imposed a baseline 10% tariff on imports from all countries.
That included longtime allies like Japan and the European Union.
World leaders have broadly criticized Trump's moves, with countries like China vowing retaliation.
World leaders are reacting to President Donald Trump's "Liberation Day" tariffs, which saw the US imposing a 10% baseline tariff on all countries.
"April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again," Trump said in his tariff announcement on Wednesday.
Some countries were hit harder than others. The US imposed a 46% tariff on Vietnam, a 20% tariff on the European Union, and a 32% tariff on Taiwan.
Trump did not increase tariffs on Canada and Mexico, keeping them consistent at 25%. China, however, was hit with an additional 34% tariff, bringing its total to 54%.
World leaders have called the tariffs unwarranted and regrettable and are urging Trump to reconsider or provide exemptions.
Meanwhile, the US treasury secretary, Scott Bessent, said countries should refrain from imposing retaliatory tariffs. He told Bloomberg on Wednesday that without retaliatory measures, the April 2 tariffs would remain "the high end of the number."
Speaking to CNN, Bessent said his advice for other countries is to "sit back" and "take a deep breath."
"Let's see where this goes because if you retaliate, that's how we get escalation," Bessent said.
Australia
Australia's prime minister, Anthony Albanese, said the tariffs were not unexpected but "totally unwarranted." Australia was hit with a 10% tariff.
"The administration's tariffs have no basis in logic and they go against the basis of our two nations' partnership. This is not the act of a friend," Albanese said in a video on X.
Our Government will always stand up for Australia. These are uncertain times - but all Australians can be certain of this: we will always stand up for Australian jobs, Australian industry, Australian consumers and Australian values. These tariffs are not unexpected, but they… pic.twitter.com/bXaFTcvnN8
However, he added that Australia would not impose reciprocal tariffs.
"We will not join a race to the bottom that leads to higher prices and slower growth," Albanese said.
Canada
Canada's prime minister, Mark Carney, responded to the tariffs in a Wednesday post on X, saying Canada would "fight these tariffs with countermeasures."
"We are going to protect our workers, and we are going to build the strongest economy in the G7. In a crisis, it's important to come together, and it's essential to act with purpose and with force, and that's what we will do," Carney said.
China's commerce ministry has responded to Trump's additional 34% tariffs, which piled onto the existing 20% levy imposed in earlier months.
The ministry said China will "resolutely take countermeasures to safeguard its own rights and interests" — but as of press time, China has not unleashed retaliatory tariffs.
"Historical evidence shows that increasing tariffs does not solve America's problems. They instead harm America's interests and threaten global economic development and supply chain stability," the commerce ministry's statement read.
"Trade wars have no winners, and protectionism has no way out. The Chinese side urges the US to immediately lift its unilateral tariff measures and properly resolve differences with trading partners through equal dialogue," it added.
On both occasions, China was quick to respond to Trump's tariffs. In February, China imposed a 10% tariff on crude oil and agricultural equipment and a 15% tariff on coal and liquefied natural gas. Then, in March, China introduced a 10% tariff on US soybeans, pork, and beef imports, as well as a 15% tariff on chicken and cotton imports.
European Union
The European Commission's president, Ursula von der Leyen, said in a Wednesday statement on X that Trump's tariffs are a "major blow to the world economy" with "dire" consequences for millions of people.
The universal tariffs announced by the US are a major blow to businesses and consumers worldwide.
Europe is prepared to respond.
We'll always protect our interests and values. We're also ready to engage.
"At the same time, we are prepared to respond. We are already finalizing the first package of countermeasures in response to tariffs on steel, and we're now preparing for further countermeasures to protect our interests and our businesses," she added.
Italy
Italy's prime minister, Giorgia Meloni, said in a Facebook post on Wednesday that US tariffs on the European Union were wrong and do not "suit any party."
"We will do everything we can to work a deal with the United States, aiming to prevent a trade war that would inevitably weaken the West in favor of other global actors," Meloni said.
But Italy will "act in the interests of Italy and its economy," she added.
Japan
Japan was hit with a 24% tariff — and its trade minister, Yoji Muto, called the measure "extremely regrettable.'"
Muto said at a press conference in Tokyo that the country will "continue to urge the US to exempt Japan from these tariffs."
Muto said he spoke to Commerce Secretary Howard Lutnick before the tariffs were announced, where he explained how Trump's measures would "adversely affect the US economy by undermining the ability of Japanese companies to invest."
"We discussed frankly how to pursue cooperation in the interest of both Japan and the United States in a way that does not rely on tariffs," Muto said.
Japan's chief cabinet secretary, Yoshimasa Hayashi, said the government will continue to examine "the content of these measures and their impact on Japan."
"We believe that the recent measures and other broad trade restrictions imposed by the US government could have a significant impact on economic relations between Japan and the US, and ultimately on the global economy and the multilateral trading system as a whole," Hayashi said.
Tesla says it'll be entering the Saudi market in April.
The company said its launch event in Riyadh will "showcase what's next in AI and robotics."
This comes at a crucial time — Tesla is reeling from declining sales and a falling stock price.
Elon Musk's Tesla has been admitted into the Gulf's largest economy, Saudi Arabia, at a crucial time for the electric vehicle producer.
On Wednesday, Tesla announced it will be holding a launch event in Saudi Arabia's capital, Riyadh, on April 10.
"You and your family are warmly invited to our launch event at the Bujairi Terrace on April 10," the announcement on Tesla's website read.
"Experience the future of autonomous driving with Cybercab, and meet Optimus, our humanoid robot, as we showcase what's next in AI and robotics," it added.
The announcement said a Tesla team will be on hand to answer questions regarding Tesla ownership, home charging, and more.
In August 2018, Musk wrote on Twitter — now X — that he would be taking Tesla private.
"Am considering taking Tesla private at $420. Funding secured," Musk wrote.
In a company blog at the time, Musk wrote that he had met with representatives from Saudi Arabia's sovereign wealth fund, the Public Investment Fund. The meetings started in early 2017 after he expressed interest in taking Tesla private, Musk added.
The deal did not take place after the PIF did not commit any funding.
Musk and Tesla were sued by Tesla investors, who said Musk's premature announcement caused them to lose money. During the trial, Musk blamed the PIF for "backpedaling" on their plans.
Then, in 2018, the PIF announced a $1 billion investment into Tesla's rival, Lucid Motors.
Saudi Arabia opening its doors to Tesla comes at a critical time for the EV maker, which has seen its stock price plunge by over 40% from its record highs in mid-December.
Tesla's shares closed at about $272 on Wednesday, down from a peak closing price of $479 in December.
The company has lost its spot as the world's top EV manufacturer, with Chinese EV giant BYD's revenue outpacing Tesla's in 2024.
BYD recently unveiled chargers that it says are four times more powerful than Tesla's and can charge an EV in five minutes.
President Donald Trump said he might give China a "little reduction in tariffs or something" if they agreed to sell TikTok.
Andrew Harnik via Getty Images
Trump said he might reduce tariffs on China to cut a deal on TikTok.
"Maybe I'll give them a little reduction in tariffs or something to get it done," he said.
Trump's comments come as trade tensions between China and the US have escalated recently.
President Donald Trump said he might lower tariffs on China to incentivize the country to close a deal on TikTok.
In a press conference on Wednesday in the Oval Office, Trump said China will have to "play a role" in TikTok's sale, "possibly in the form of an approval."
"Maybe I'll give them a little reduction in tariffs or something to get it done, you know, because every point in tariffs is worth more money than TikTok," Trump told reporters on Wednesday.
Under the divest-or-ban law passed by the Senate in April, TikTok had to stop operating in the US on January 19 if it did not divest itself from its parent company, ByteDance.
The ban on TikTok was paused for 75 days after Trump signed an executive order on January 20. TikTok has until April 5 to find a new owner in the US.
Several buyers, including Trump's former treasury secretary, Steve Mnuchin, and Reddit cofounder Alexis Ohanian, have said they want to acquire TikTok.
Trump's comments on reducing tariffs on China come as trade tensions between the US and China escalated recently.
Trump imposed a 10% tariff on Chinese goods in February, just weeks after entering office, saying this would help curb the flow of fentanyl into the US. Trump said during his campaign that he would impose tariffs of more than 60% on Chinese goods if he won the presidency.
China retaliated soon after with its own set of tariffs on agricultural equipment, crude oil, coal and liquefied natural gas.
On March 4, Trump doubled the tariffs on China to 20%. China responded with a 10% tariff on US soybeans, pork, and beef imports and a 15% tariff on chicken and cotton imports.
Representatives for Trump, TikTok, and the Chinese foreign ministry did not respond to requests for comment from Business Insider.
China's Premier Li Qiang said that the country is open for business.
ADEK BERRYADEK BERRY/POOL/AFP via Getty Images
China's Premier, Li Qiang, told top executives that the country is still open for business.
He said with rising "instability and uncertainty," it was important for countries to open their markets.
This comes as trade tensions escalate between China and the US.
China assured top multinational executives on Sunday that it's still open for business, even as it grapples with increasing trade tensions with the US.
Speaking to over 80 executives during the China Development Forum 2025 in Beijing on Sunday, China's Premier Li Qiang spoke about receiving "unexpected shocks from other countries."
"Today, global economic fragmentation is intensifying, and instability and uncertainty are on the rise," Li said in his speech.
Li said, at present, it's "even more important for each of our countries to open up their markets more, and our companies, our businesses, should be sharing their resources more."
"Decoupling and breaking the chain will only aggravate the crisis, and suppression and containment will ultimately harm everyone," Li said.
Footage of Li's speech in the Chinese media showed top executives in attendance, including Apple's CEO Tim Cook, Citadel's founder Ken Griffin, and Qualcomm's CEO Cristiano Amon.
Li's speech comes amid escalated trade tensions between the US and China.
In February, just weeks after entering office, President Donald Trump imposed a 10% tariff on Chinese goods in an attempt to curb the flow of fentanyl into the US. While on the campaign trail, Trump said he would introduce tariffs of more than 60% on Chinese goods if he won the presidency.
China retaliated soon after with a 10% tariff on crude oil and agricultural equipment and a 15% tariff on coal and liquefied natural gas.
Later, on March 4, Trump doubled the tariffs on China to 20%. China, in turn, responded with a 10% tariff on US soybeans, pork, and beef imports, as well as a 15% tariff on chicken and cotton imports.
It's not just with the US that trade tensions are brewing — there's bad blood between China and Canada, too.
China's finance ministry said the retaliatory tariffs were in response to Canada's levies on Chinese steel, aluminum, and electric vehicles. China's tariffs on Canada came into effect on March 20.
Sunday's meeting comes as China seeks to stimulate its economy with overtures to the private sector.
"It is necessary to resolutely remove all kinds of obstacles to the equal use of production factors and fair participation in market competition," Xi told the executives, per state news agency Xinhua.
China's foreign ministry did not respond to a request for comment from Business Insider.
Mukesh Ambani announced a partnership with Elon Musk's SpaceX.
SUJIT JAISWAL/AFP via Getty Images, Associated Press
India's richest man, Mukesh Ambani, announced a partnership with Elon Musk's SpaceX.
Ambani's Jio Platforms will bring Starlink's internet services to India, per the partnership.
This deal comes at a welcome time for Musk.
India's richest man is joining hands with Elon Musk to bring Starlink into the subcontinent.
Mukesh Ambani, the billionaire owner of Indian mega-conglomerate Reliance Industries, announced a partnership with Musk's SpaceX to bring Starlink's internet services to India through its technology subsidiary, Jio Platforms.
In a press release on Wednesday, Jio Platforms said that it would offer Starlink services to customers in India through its retail and online storefronts.
The partnership would increase access connectivity across the subcontinent, even in "most rural and remote regions of India," the release wrote.
"Our collaboration with SpaceX to bring Starlink to India strengthens our commitment and marks a transformative step toward seamless broadband connectivity for all," Mathew Oommen, the CEO of Reliance Jio, said in the release.
Jio Platforms said this agreement will be "subject to SpaceX receiving its own authorizations to sell Starlink in India."
Jio Platforms did not specify when the partnership will be rolled out.
If the partnership goes through, it will give Starlink access to the world's largest consumer market. India is the world's most populous country, with more than 1.4 billion people.
Reliance Jio had 481.8 million subscribers in the country as of 2024, Reliance Industries said in its 2023-2024 annual report.Ambani had a net worth of $87.5 billion at press time on Wednesday, per the Bloomberg Billionaires Index.
Representatives for SpaceX and Reliance Industries did not respond to requests for comment from Business Insider.
Musk said he's been running his businesses 'with great difficulty'
The deal with Ambani, if confirmed, would be a welcome boost for Musk. The Tesla and SpaceX CEO said in an interview with Fox Business host Larry Kudlow, which aired Monday, that running the Department of Government Efficiency along with his companies hasn't been easy.
"With great difficulty," Musk said when asked how he managed his businesses.
Tesla saw a postelection boost after President Donald Trump's victory in November, but the stock has slid by more than 50% from recent highs. Musk's EV company has also seen declining sales in Europe and China.
In January, Tesla said it delivered 1.79 million vehicles last year, a 1% drop from the 1.81 million vehicles it delivered in 2023. This was the first time the company's annual sales declined in more than a decade.
Musk's clashes with European politicians over the Ukraine war have resulted in increased scrutiny over the market dominance of his satellite internet service, Starlink. Musk initially supported Ukraine but has since called for the US to stop sending it military aid.
On Sunday, Poland's foreign minister, Radosław Sikorski, wrote in an X post that Poland "will be forced to look for other suppliers" of satellite internet services if SpaceX "proves to be an unreliable provider."
"To be extremely clear, no matter how much I disagree with the Ukraine policy, Starlink will never turn off its terminals," Musk wrote on X on Sunday.
"We would never do such a thing or use it as a bargaining chip," he added.
First responders were tasked to respond to the Delta Air Lines plane crash site at Toronto Pearson International Airport in Mississauga, Ontario, Canada.
Arlyn McAdorey/REUTERS
A Delta Air Lines plane flipped with 80 people on board as it landed in Toronto Monday.
The Bombardier CRJ900 was flying from Minneapolis, operated by Delta's Endeavor Air.
The airline said Monday evening 18 customers with injuries were transported to hospitals.
A Delta Air Lines jet flipped with 80 people on board as it landed at a Toronto airport Monday, leaving emergency crews scrambling to reach the injured in the upside-down aircraft.
All passengers and crew were "accounted for," Toronto Pearson International Airport said. Delta Air Lines said 18 injured people were taken to hospitals. A Peel Regional Police spokesperson said the Greater Toronto Airports Authority was investigating.
Photos on X appeared to show the plane upside down and at least one wing missing. More photos of the wreck trickled out later. Delta said there were 76 passengers and four crew on board.
The wreckage of Delta Air Lines Flight 4819 from Minneapolis overturned at Toronto Pearson International Airport.
Mert Alper Dervis /Anadolu via Getty Images
"Initial reports indicate there are no fatalities and 18 customers with injuries have been transported to area hospitals. Our primary focus is taking care of those impacted," Delta said Monday at around 5:40 p.,m. ET.
At around 10:30 p.m. ET, the company said, "Some of the customers initially transported to area hospitals have been released."
Ornge, an air ambulance service in Ontario, told Business Insider that three people were transported to Toronto hospitals with critical injuries, including a child, a man in his 60s, and a woman in her 40s.
The Bombardier CRJ900, which was flying from Minneapolis as Flight 4819, was operated by Delta's wholly-owned regional subsidiary, Endeavor Air.
"One minute you're landing, kind of waiting to see your friends and your people, and the next minute you're physically upside down," he said.
Carlson described the sound of "cement and metal" as the plane crashed.
Another shot of the wreckage of Delta Flight 4819 at Toronto Pearson Airport.
Mert Alper Dervis /Anadolu via Getty Images
Flights to Toronto Pearson were halted due to the emergency but resumed at 5 p.m. local time. More than 330 flights were delayed on Monday, and nearly 400 flights were canceled, per FlightAware, a flight-tracking website.
"The airport remains open. Passengers are advised to check their flight status before coming to the airport," the airport wrote in an X post on Monday night.
Delta said that it is working with customers flying from, to, or through Toronto and that customers should check their flight status via the Delta app.
US Secretary of Transportation Sean Duffy said in an X post that investigators with the Federal Aviation Administration were traveling to Toronto and that the Transportation Safety Board of Canada would lead the investigation.
Canada's transport minister Anita Anand thanked first responders and airport staff in an X post. In an earlier post, she said she had spoken to Duffy about the crash and that the FAA was sending investigators to support the Transportation Safety Board of Canada.
The event in Toronto highlights the ongoing concerns over aviation safety. Despite the incident happening in Canada, the plane was operated by a US airline regulated by the FAA.
On Monday, the Trump Administration fired hundreds of FAA staff, according to the workers' union, including people in the safety department.
Among those fired was Jason King, whose work directly involved addressessing safety concerns, the Washington television station, WUSA, reported.
He said his team's work included investigating the midair collision over D.C.
The Trump Administration's move to fire hundreds of FAA employees follows the fatal American Airlines crash in January.
President Donald Trump told reporters on Monday that the new sovereign wealth fund he wants to establish could be involved in TikTok's sale.
Anna Moneymaker via Getty Images
President Donald Trump on Monday signed an executive order to start a US sovereign wealth fund.
He said that the fund could be used to buy TikTok, which is facing a looming ban in the US.
He has floated numerous other ways to save the app, like having Elon Musk or Larry Ellison buy it.
President Donald Trump floated the idea of buying TikTok with an American sovereign wealth fund, which he signed an executive order on Monday to create.
"So other countries have sovereign wealth funds, and they're much smaller countries, and they're not the United States. We have tremendous potential in this country," Trump told reporters at the White House on Monday.
Sovereign wealth funds pool money that comes from the government, often a surplus from economic activities like producing oil. Some funds invest in stocks and bonds, while others invest directly, buying real estate, companies, and other assets. Norway has the world's biggest sovereign wealth fund, with $1.7 trillion in assets.
"And as an example, TikTok, we're going to be doing something, perhaps, with TikTok, and perhaps not," he said. "If we make the right deal, we'll do it; otherwise, we won't."
"But I have the right to do that and we might put that in the sovereign wealth fund, whatever we make, or if we do a partnership with very wealthy people," Trump added.
Treasury Secretary Scott Bessent said that the fund would be set up within the next 12 months.
Time's running short for TikTok
TikTok has until April to devise a game plan as it fights against the Supreme Court's divest-or-ban law. It went dark for its 170 million US users on January 18, a day before its original deadline, but was restored hours later.
"I think we would have a joint venture with the people from TikTok. We'll see what happens," Trump said after taking office.
A day later, he said he would be on board with Tesla CEO Elon Musk or Oracle cofounder Larry Ellison buying TikTok.
Neither businessman has publicly expressed interest in buying the app. But Musk said in an X post on January 19, the day of the intended ban, that he has been against the ban "for a long time" because it "goes against freedom of speech."
Representatives for Trump and TikTok did not respond to requests for comment from Business Insider.
Thousands of firefighters are battling the Palisades Fire, one of several burning around Los Angeles County.
Jason Armond/ Los Angeles Times/Getty Images
Wildfires are burning across Los Angeles County.
Hundreds of thousands of people are under evacuation orders or warnings.
Insured losses could top $20 billion, JPMorgan analysts estimated — the most-ever in California.
The Los Angeles area is battling a series of massive wildfires that continue to rip through its picturesque mountains and hillsides — creating a hellscape of burned-out neighborhoods and upended livelihoods that could ultimately be the most costly fire disaster in California history.
Authorities on Friday night expanded the evacuation zone related to the largest blaze, the Palisades Fire, east toward Santa Monica, less than 1.5 miles from the iconic Santa Monica Pier. The zone now encompasses the famous Getty Center, home of the Getty Museum.
Officials have now ordered over 153,000 residents to evacuate and warned another 166,000 to be ready to leave if the fires continue to spread. About 38,000 acres have burned. Officials have reported 13 deaths related to the fire as of Saturday.
At a press conference on Friday evening, officials managing the Eaton fire, which now spans over 14,000 acres and is one of the largest and deadliest, said they did not expect the blaze to spread significantly over the weekend due to more moderate wind conditions. However, officials said they are anticipating another high-wind event early next week. It was strong Santa Ana gusts of up to 90 miles per hour that first whipped the fires into a frenzy earlier this week.
JPMorgan analysts said the blazes tearing through the region could lead to over $20 billion in insured losses — and about $50 billion in total economic losses. That would make these conflagrations "significantly more severe" than the Camp Fires that struck the state in 2018 and racked up $10 billion in insured losses, the current record.
The Los Angeles skyline in the distance, surrounded by smoke and haze on Thursday morning.
Mario Tama/Getty Images
Los Angeles District Attorney Nathan Hochman described the scene in LA as apocalyptic, as thick bands of smoke surrounded the city. Los Angeles County is home to about 10 million people.
"Not since the 1990s, when Los Angeles was hit with the fires, the flood, the earthquake, and the riots, have I seen such disaster occur here in our city," Hochman said at a briefing, referring to the Northridge Earthquake and the disturbances in the wake of the Rodney King verdict.
Erroneous emergency alerts telling residents to evacuate areas unaffected by the fires further heightened panic in the region. Kevin McGowan, the director of the Los Angeles County Office of Emergency Management, apologized for the messages at Friday's conference.
"There is an extreme amount of frustration, anger, fear, with regards to the erroneous messages that have been being sent out through the wireless emergency alert system. I can't express enough how sorry I am for this experience," he said.
He reassured residents that resolving the issue is his "top priority" and that he has technical specialists working to identify the root cause. "I implore everyone to not disable the messages on your phone," he said.
Starlink, Elon Musk's SpaceX subsidiary that provides satellite internet service, said Thursday that people in the Los Angeles area can use the company's network to text loved ones, contact 911, and receive emergency alerts.
Gov. Gavin Newsom on Saturday announced that he's doubling the number of California National Guard personnel on the ground to 1,680 members.
"The men and women of the California National Guard are working day and night to help Los Angeles residents during their greatest time of need," he said in a statement.
Here's a look at the latest happenings in the main fires spreading throughout the area:
Palisades Fire
Beachfront homes are destroyed by the Palisades Fire.
Brian van der Brug / Los Angeles Times via Getty Images
The Palisades Fire in the Pacific Palisades area north of Santa Monica was the first fire to strike the region on Tuesday morning. It has spread to over 21,500 acres, according to the California Department of Forestry and Fire Protection. Around 11% of the fire is contained, it says.
Five people have died in the Palisades fire, according to the medical examiner's office.
Los Angeles City's Fire Chief Kristin Crowley said at a press briefing earlier this week that the Palisades Fire had damaged or destroyed over 5,300 structures.
Crowley would not confirm reports that the fire started in a resident's garden, saying the origin is still under investigation.
On Thursday, a drone hit the wing of one of two Super Scooper planes fighting the wildfires, Los Angeles County Fire Chief Anthony Marrone said at a Friday press conference. He said the plane was under urgent repairs and set to be flying again by Monday. "If you fly a drone at one of these brush fires all aerial operations will be shut down," he said.
Eaton Fire
A man walks past a fire-ravaged business after the Eaton Fire swept through on Wednesday.
AP Photo/Ethan Swope
The second-largest fire in Los Angeles County is the Eaton Fire, which started on Tuesday evening in the Pasadena-Altadena area at the foothills of the Angeles National Forest.
Eight people have died in the Eaton fire, Los Angeles County Sheriff Commander Tania E. Plunkett said at a press conference on Saturday afternoon.
The blaze has spread to over 14,100 acres, Marrone said at the Saturday conference, adding that over 7,000 structures have been damaged or destroyed and 15% of the fire is contained.
The cause of the fire remains "unknown," Marrone previously said.
Hurst Fire
The Hurst Fire burned in the hills above the Sylmar area of Los Angeles on Wednesday.
Myung J. Chun / Los Angeles Times via Getty Images
The Hurst Fire, which began late on Tuesday night in the northern part of the San Fernando Valley, spread to 799 acres and is 76% contained, per Cal Fire.
In an X post on Thursday afternoon, Los Angeles Mayor Karen Bass said the mandatory evacuation order for the Hurst Fire had been lifted.
Kenneth Fire
On Thursday, a small brush fire erupted at the Victory Trailhead near the border of Los Angeles and Ventura counties. Marrone said that the fire had been stopped. It burned just over 1,000 acres, but no structures were reported damaged. It is 80% contained, per Cal Fire.
A mandatory evacuation order was issued for several neighborhoods near the fire.
LAPD said it had detained a possible arson suspect but could not confirm any connection to the fire.
An evacuation notice intended for residents impacted by the Kenneth Fire was mistakenly sent out across LA County due to a "technical error," County Supervisor Janice Hahn said in an X post.
Sunset Fire and others
Firefighters halted the forward progress of the Sunset Fire in the Hollywood Hills.
Jason Armond / Los Angeles Times via Getty Images
The Sunset Fire broke out in the Runyon Canyon area of the Hollywood Hills on Wednesday evening, quickly spreading to scorch over 40 acres and threaten major LA landmarks.
All evacuation orders related to the Sunset Fire were lifted as of 7:30 a.m. Thursday, she added.
A large structure fire consumed two large homes in the Studio City area but firefighters were able to stop its forward growth at just one acre and prevent another brushfire, Crowley said.
Yet another fire, the Lidia Fire, started Wednesday afternoon in Acton near the Antelope Valley, about 20 miles northeast of the San Fernando Valley. It consumed 395 acres but is now 100% contained, according to CalFire.
The Woodley Fire, which began Wednesday morning in the southern part of the San Fernando Valley, has been suppressed and there are no current threats, Crowley said.
Patrols were monitoring the area for any flare-ups, she added.
Events canceled and landmarks closed as smoke chokes LA
Major and minor events alike have been canceled or postponed across the Los Angeles area as the city battles the fires.
The 30th Annual Critics Choice Awards, set for Sunday night, were rescheduled for January 26. A National Hockey League game between the Los Angeles Kings and the Calgary Flames, scheduled for Wednesday night at Crypto.com arena, was postponed. The LA Lakers rescheduled Thursday night's game.
Music venues across the city were also canceling or postponing their shows, including The Troubadour, The Wiltern, The Echo, the Kia Forum, Walt Disney Concert Hall, and others.
Flights into and out of LAX, Hollywood Burbank Airport, Ontario International Airport, and Santa Ana's John Wayne Airport were also experiencing delays and cancellations. LAX, however, remains open.
The fires are also shuttering tourist destinations in and around Los Angeles, which attracts nearly 50 million visitors a year.
The fires forced some Los Angeles-area landmarks to close, including the Hollywood sign, the Los Angeles Zoo, the Broad Museum, the Norton Simon Museum, the Getty Villa and Getty Center, Universal Studios Hollywood and Universal CityWalk, and the Griffith Observatory.
Airbnb told CNN that it would be allowing refunds for bookings in areas affected by the wildfires, following a viral social media post from a customer who said the company refused to offer her a refund.
California already struggled with an insurance crisis
Experts told Business Insider that prices are likely to continue rising for those who can still get insurance.
"I've seen numbers go up 200%, 300%, even 500% in a year," Nick Ramirez, the owner of a California insurance agency, told BI.
And as the fires' estimated damages already climb into the billions of dollars, some homeowners will have to rebuild without the help of insurance payouts.
Angelina Jolie and Brad Pitt have reached a divorce settlement after eight years.
Jolie filed for divorce in 2016, two years after the pair got married.
Her representative said in a statement to BI that she was exhausted but relieved it was over.
Angelina Jolie and Brad Pitt have reached a divorce settlement.
"More than eight years ago, Angelina filed for divorce from Mr. Pitt. She and the children left all of the properties they had shared with Mr. Pitt, and since that time she has focused on finding peace and healing for their family," Jolie's lawyer, James Simon, told Business Insider on Tuesday.
"This is just one part of a long ongoing process that started eight years ago," Simon said, adding that Jolie was "exhausted" but "relieved this one part is over."
Jolie and Pitt signed off on the settlement on Monday,Simon told People.
Pitt's representative declined to comment when contacted by BI.
Jolie, 49, and Pitt, 61, became an item after working together on the 2005 film "Mr and Mrs Smith." At the time, Jolie was in the process of divorcing actor and director Billy Bob Thornton, while Pitt was married to "Friends" actress Jennifer Aniston.
Pitt and Aniston were idealized as Hollywood's perfect couple, which made rumors that Pitt and Jolie were having an affair all the more shocking.
A month after Aniston filed for divorce in March 2005, Pitt and Jolie were photographed on vacation in Kenya.
In the years that followed, the couple built a family: Jolie adopted her son Maddox in 2002 and her daughter Zahara in 2005 while she was with Pitt. In 2006, their first biological child, Shiloh Jolie-Pitt, was born, and they adopted Pax a year later. In 2008, Jolie gave birth to twins: Knox Leon and Vivienne Marcheline.
The couple got engaged in 2012 and secretly married in France in 2014.
They were photographed together for the final time in July 2016, and Jolie filed for divorce later that year, citing irreconcilable differences and requesting primary custody of their six children.
What followed was what is widely regarded as a messy split, with the couple disagreeing over child support, custody, and how to divide their respective stakes in a winery that they bought in 2008, and where they married in 2014.
In 2022, in an FBI report obtained by Rolling Stone and Puck, Jolie alleged Pitt assaulted her on the 2016 flight, was intoxicated, and caused $25,000 worth of damage to their private jet.
At the time, spokespeople for Jolie, Pitt, and the FBI did not respond to BI's requests for comment.
A divorce lawyer for Pitt told the New York Times at the time that while he accepted responsibility for some things in his past, he would not accept responsibility for what he did not do.
This is a developing story. Check back for updates.
