What to know today
- President Donald Trump departed on the first major foreign trip of his second term this morning, heading first to Saudi Arabia and then Qatar and the United Arab Emirates.
- The United States and China have agreed to a 90-day pause on most of the tariffs they have imposed on each other since last month, a big step toward easing the trade war between the two countries.
- Trump signed an executive order that aims to lower prescription drug prices, and discussed the measure at a news conference with Health Secretary Robert F. Kennedy Jr.
- Trump mocked Democratic backlash over his administration's decision to accept a Boeing super luxury jet, estimated to be worth hundreds of millions of dollars, from Qatar to use as Air Force One.
Newark Mayor Ras Baraka’s arrest could shake up New Jersey’s Democratic primary for governor
Newark Mayor Ras Baraka’s arrest last week at a federal immigration detention facility could shake up the New Jersey governor’s race, as Baraka looks to appeal to progressive Democratic voters to win the crowded primary.
Baraka is one of six Democrats on the June 10 primary ballot, and he has been campaigning for months as an unapologetic progressive but has been vastly outspent spreading that message on the airwaves. His arrest Friday at the facility, known as Delaney Hall, could boost his profile just as Democratic voters look for a candidate willing to fight Trump.
“We’re fighting to uphold the Constitution the United States,” Baraka told supporters on a call with a coalition of progressive groups this evening. “We’re fighting to uphold democracy that every single person deserves due process.”
LaVar Young, who chairs the pro-Baraka super PAC One New Jersey United, said Baraka’s arrest shows “there’s only been one candidate that’s really been putting action behind his words.”
Trump endorses Jack Ciattarelli in New Jersey governor’s race
Trump today endorsed Republican Jack Ciattarelli in the New Jersey governor’s race, cementing the frontrunner in a contested primary.
“Jack, who after getting to know and understand MAGA, has gone ALL IN, and is now 100% (PLUS!),” Trump wrote in a Truth Social post. “He is strongly supported by the most Highly Respected Leaders in New Jersey and, as your next Governor, Jack Ciattarelli will work closely with me and the Trump Administration to advance our America First Agenda.”
Trump compared Ciattarelli to the other candidates by arguing he “is the Republican Candidate who is best positioned to STAND TALL against the Radical Left Democrats and, most importantly, ensure a Big Victory in this Very Important Gubernatorial Election.”
Ciattarelli’s top competition for the GOP nomination has been former radio host Bill Spadea, who has cast himself as the true Trump ally in the race. Spadea’s campaign has not responded to a request for comment on Trump’s endorsement.
DNC panel recommends redo of vote that elevated David Hogg to vice chair after procedural concerns
A Democratic National Committee subcommittee on Monday recommended that the organization invalidate one of its February vice-chair votes over claims that it unfairly disadvantaged female candidates.
The move, which won’t be official unless the entire DNC votes to approve it, could open up new races for the positions held by David Hogg, a Florida activist, and Malcolm Kenyatta, a Pennsylvania state legislator.
New Jersey Democrats who tried to tour ICE facility call arrest threats an act of intimidation
Rep. LaMonica McIver, one of the New Jersey lawmakers at the ICE detention facility in Newark last week when the city's mayor was arrested, called threats to arrest them an act of intimidation.
“You know, I’ve heard so many things about us being arrested, how they’re going to press charges, and it is just honestly the sign of intimidation, political intimidation, when we are simply doing our jobs,” McIver said during a call today hosted by the Working Families Party.
Department of Homeland Security spokesperson Tricia McLaughlin over the weekend said arresting the lawmakers was “definitely on the table.”
Rep. Robert Menendez, Jr., another lawmaker present at the ICE detention center known as Delaney Hall on Friday, echoed McIver’s remarks on the call.
“They put their hands on two members of Congress in broad daylight," he said. "They were 20 armed individuals deep...so if that’s not an act of intimidation, I don’t know what is. Distorting the facts before we even walked out of Delaney Hall, is an act of intimidation to try to silence folks.”
Senate Democrats plan to force a vote disapproving of Qatar plane gift
Sen. Chris Van Hollen, D-Md., a senior member on the Foreign Relations Committee, said today that Democrats will seek to pass a resolution of disapproval this week condemning Trump over his plans to accept a luxury jet as a gift from the Qatari government.
“Republicans will have to come down to the floor and, you know, defend what is clearly a corrupt deal," Van Hollen said on Capitol Hill.
Democrats are seeking to pass the resolution by unanimous consent, meaning a single Republican could block the effort on the Senate floor.
Senate Minority Leader Chuck Schumer, D-N.Y., criticized Trump on the Senate floor saying "his shameless self-enrichment is without equal in American history."
"Donald Trump is using his office to enrich himself and his family. This isn’t a question. This is a fact with incredible supporting data to prove it, he is putting America’s national security at risk to enrich himself," Schumer said today.
Georgia insurance commissioner announces bid for Senate seat
Georgia Insurance and Safety Fire Commissioner John King today announced a bid for U.S. Senate in the battleground state, on the heels of Gov. Brian Kemp and Rep. Marjorie Taylor Greene — both Republicans — saying they would pass on entering the 2026 race.
"'I've never shied away from a fight, but what truly scares me today is having Jon Ossoff for six more years," King said in a video announcing his candidacy. "President Trump got sent to Washington, D.C., to solve some very big problems. He needs help, and I'm asking for your support to go help President Trump and solve these incredibly big problems."
King is the second Republican to announce a bid for the Republican nomination for Senate in Georgia after Rep. Buddy Carter, R-Ga., a Trump ally, announced last week that he's aiming to unseat Democratic Sen. Jon Ossoff.
King previously worked as an Atlanta police officer and Doraville police chief. He is also a retired U.S. Army major general, and served as a member of the National Guard in Iraq and Afghanistan, according to a biography posted on a state website.
King said in his announcement video that he came to the U.S. from Mexico as a teen.
White South Africans arrive in the U.S. as refugees, protected under Trump’s carve out
American officials welcomed a group of 59 white South Africans at Washington Dulles International Airport this afternoon in a ceremony greeting them as refugees, under the argument that they are fleeing discrimination and racially based violence in their home country.
The newly arrived people are from the ethnic minority of Afrikaners, the group of whites who ruled South Africa during apartheid. The dozens that came today, including families with young children, arrived via a flight chartered by the State Department. Their resettlement in the U.S. comes as the Trump administration has shut down refugee admissions from almost all other countries, including Afghanistan, Sudan, the Republic of Congo and Myanmar.
DNC committee to weigh challenge to Hogg and Kenyatta's vice-chair election victories
A Democratic National Committee subcommittee is meeting this afternoon to weigh a challenge that could, if successful, result in a recommendation that the national party invalidate the election of two vice-chairs — Florida activist David Hogg and Pennsylvania state Rep. Malcolm Kenyatta —over claims the vote failed to adhere to party rules.
The challenge by Oklahoma Democratic Committeewoman Kalyn Free, who unsuccessfully ran against Hogg and Kenyatta in the February race for vice chair, is not based on the ongoing tension between Hogg and the national party over his push to support primary challenges against incumbent Democrats.
Instead, the challenge stems from Free’s claim that the handling of the vice chair vote gave the two men an unfair advantage amid the national party’s requirements that its executive committee achieve gender balance. (Hogg and Kenyatta have argued the election was conducted within the boundaries of party rules.)
But today's meeting of the DNC Credentials Committee could lead to members recommending that a new election be called. That would set up a high-stakes decision for the full DNC membership, which would need to vote on whether to approve the recommendation.
And this is all happening as DNC Chairman Ken Martin has been separately pushing a reform that would “require all party officers—including myself—to remain neutral in primaries. Hogg has stirred controversy amid plans to raise and spend millions of dollars on Democratic primary challenges.
House Democrat reacts to DHS spokesperson's arrest threat
Rep. Bonnie Watson Coleman, D-N.J., told NBC News in a phone interview that she has not had any direct contact with Department of Homeland Security officials amid threats that she could be arrested following a confrontation at an ICE detention facility in Newark on Friday.
DHS spokeswoman Tricia McLaughlin said over the weekend that arresting a member of Congress “is definitely on the table” following Newark Mayor Ras Baraka’s arrest Friday for allegedly trespassing. (Baraka has denied any wrongdoing.)
Watson Coleman and fellow Democratic Reps. Rob Menendez and LaMonica McIver were also at the detention center, known as Delaney Hall, on Friday.
“I haven’t heard from Homeland Security directly about it, only have heard about statements that have been made,” Watson Coleman said. “I don’t know what it is they would be arresting us for, because, as federal legislators, we had a right to be [at] Delaney Hall. We had a right to do the audit, the oversight of Delaney Hall. So am I concerned? I’m only concerned because this administration does reprehensible things to innocent people, and we could be three of them.”
House Republicans unveil sweeping tax plan but have yet to resolve key fight over SALT
WASHINGTON — House Republicans unveiled the legislative text of their sweeping tax proposal for the massive bill for Trump’s agenda, but punted a fight on a nagging sticking point: how much to lift the cap on the deduction for state and local taxes, known as SALT.
Speaker Mike Johnson, R-La., convened a video call this morning with members of both the tax-writing Ways and Means Committee and the SALT Caucus, a group of blue-state Republicans who have been fighting to raise the SALT cap much higher than the current level of $10,000. While several proposals were discussed, GOP lawmakers were unable to agree on a number.
DOJ officials turned away from the Library of Congress this morning
Two Trump administration DOJ officials who claimed to be assigned to the Library of Congress in acting leadership roles were turned away from its offices this morning, three sources familiar told NBC News.
The two, Brian Nieves, who said he was the acting deputy librarian, and Paul Perkins, who said he was the acting copyright registrar and director of the Copyright Office, arrived at 9 a.m. at the U.S. Copyright Office in the Madison Building and presented an email saying they were given the new roles, but the two were not allowed into the offices and left.
The two had also presented a letter saying that Todd Blanche, the current deputy attorney general, was being appointed to also be the acting librarian of Congress. The two left after speaking with library staff and security. U.S. Capitol Police say that they did not escort the two out of the building.
The attempt to install Blanche, Nieves, and Perkins comes amid questions about whether the Trump administration has any authority to do so because the Library of Congress is under the legislative branch, under which the executive has no authority to dictate staffing.
According to LinkedIn, Brian Nieves is the deputy chief of staff and senior counsel for policy at the Office of the Deputy Attorney General, and Paul Perkins is associate deputy attorney general at the DOJ.
The librarian of Congress is a role that the president has the authority to appoint, after which the Senate would have to confirm that nominee, but the president has no authority over the staffing under the librarian role, and it’s unclear if the president can place someone in an acting capacity while a nominee to fully take the role is being considered.
The person who is currently serving as the acting librarian of Congress, Robert Randolph Newlen, sent an email, which was obtained by NBC News, to Library of Congress staff this morning after Nieves and Perkins were turned away, and said, “You may have read that the White House has appointed a new acting Librarian. Currently, Congress is engaged with the White House, and we have not yet received direction from Congress about how to move forward. We will share additional information as we receive it.”
NBC News has reached out to relevant congressional offices, the DOJ and the White House to get their responses.
Pentagon spent at least $21M on flights to Guantanamo, which holds 32 migrants
The Trump administration spent at least $21 million transporting migrants to Guantanamo Bay on military aircraft from Jan. 20 to April 8, according to figures provided to Congress by the U.S. military.
The naval base there holds 32 migrants, according to a defense official, a tiny fraction of the 30,000 that Trump promised. Guantanamo has held a total of just under 500 migrants since Trump announced the effort in January, and it has never held more than 200 at any one time. Many of the migrants flown there are believed to have been flown back to the U.S.
Trump urges Republicans to back reconciliation bill that includes proposed Medicaid cuts
Trump urged Republicans to support legislation to implement his agenda, which would include spending reductions and other changes to Medicaid as a way to pay for proposed tax cuts.
"This week the Republicans are meeting in the Tax, Energy, and Agriculture Committees on major pieces of 'THE ONE, BIG, BEAUTIFUL BILL.' Republicans need to UNIFY behind their Highly Respected Chairmen, Jason Smith, Brett Guthrie, and Glenn 'GT' Thompson," Trump wrote, referring to the chairmen of the House Ways and Means, Energy and Commerce, and Agriculture committees, respectively.
The president urged House Republicans to oppose Democrat-sponsored amendments to the bill while touting his tariffs and an executive order he signed this morning that aims to lower the cost of prescription drugs.
"When I return from the Middle East, where great things will happen for America, we will work together on any and all outstanding issues, but there shouldn’t be many — The Bill is GREAT," Trump said. "We have no alternative, WE MUST WIN! But now, with the tremendous Drug and Pharmaceutical Cuts, plus massive incoming Tariff Money, our 'GREAT, BIG, BEAUTIFUL BILL' just got much BIGGER and BETTER. The Golden Age of America will soon be upon us. MAKE AMERICA GREAT AGAIN!"
House Republicans unveiled legislative language for a key portion of the measure last night that would place new limits on Medicaid, including work requirements, in an effort to reduce its costs by hundreds of billions of dollars. The Energy and Commerce panel is set to mark up the bill tomorrow afternoon.
Chamber of Commerce lauds tariffs pause, but says businesses need more help
The U.S. Chamber of Commerce said that it welcomes the pause on tariffs that China and the U.S. announced this morning, but that “record high” import duties continue to strain companies.
“While any agreement that reduces tariffs is good news, it is important to note that even with this China agreement, tariffs are much higher overall than they were at the beginning of the year, and many businesses, especially small businesses, are dealing with growing costs and disruptions,” John Murphy, a senior vice president at the business group, said in a statement.
The chamber also renewed its call for Trump to introduce tariff exclusions for small businesses “for products not produced in the U.S., and for companies facing imminent layoffs of American workers as a result of tariffs.”
The White House has previously said that forthcoming tax legislation could provide some relief.
Musk’s regulatory troubles have begun to melt away in Trump’s second term
Tech billionaire Elon Musk’s regulatory problems have started to fade into the past.
Since the start of the second Trump administration, federal agencies that had scrutinized Musk and his business empire in recent years have begun to look a lot different. At the Agriculture Department, for example, Trump fired the person who had been investigating the Musk company Neuralink. At other agencies including the Consumer Financial Protection Bureau, Trump and Musk have tried to slash the number of employees — potentially hobbling those regulators’ ability to enforce the law against companies including Musk’s Tesla and X.
Democrats seek IG probe of communications between Library of Congress and executive branch
Several House Democrats sent a letter to the Library of Congress' inspector general, Kimberly Benoit, today asking that she investigate and monitor "potential improper communications" between the library and the executive branch.
The lawmakers requested that the investigation include "the possible unauthorized transfer of congressional or Library data to executive branch agencies and personnel."
The Library of Congress is part of the legislative branch.
The lawmakers criticized Trump’s firing of Librarian of Congress Carla Hayden, saying it "raises serious concerns that the executive branch is improperly targeting the Library and its employees with adverse employment actions and inappropriate requests for information including, but not limited to, confidential communications between congressional offices and the Library’s various service units."
The letter asked that Benoit investigate whether DOGE or executive branch officials "have requested or otherwise attempted to access or review Library data," as well as whether the executive branch has sent the library directives "to modify access protocols or information sharing practices with entities outside the legislative branch."
The lawmakers did not provide evidence of any wrongdoing in their letter calling for the investigation.
Trump administration to end temporary protected status for Afghans
Homeland Security Secretary Kristi Noem announced today that the administration is ending temporary protected status for Afghans after determining that "conditions in Afghanistan no longer meet the statutory requirements" for the designation, her department said in a news release.
The Biden administration had granted Afghan refugees the protected status to allow them to remain in the country temporarily after Afghanistan's fall to the Taliban.
"We’ve reviewed the conditions in Afghanistan with our interagency partners, and they do not meet the requirements for a TPS designation," Noem said in a statement. "Afghanistan has had an improved security situation, and its stabilizing economy no longer prevent them from returning to their home country."
The news release also said Noem "further determined that permitting Afghan nationals to remain temporarily in the United States is contrary to the national interest of the United States."
The temporary protected status for Afghanistan is set to expire May 20 and the termination goes into effect July 12. the release said.
Zelenskyy says he hopes Trump will attend direct talks between Russia and Ukraine in Turkey on Thursday
Ukrainian President Volodymyr Zelenskyy said in a post on X that he hopes Trump will participate in direct talks between Russia and Ukraine in Turkey this week during his trip to the Middle East.
"I supported President Trump with the idea of direct talks with Putin," Zelenskyy said. "I have openly expressed my readiness to meet. I will be in Türkiye. I hope that the Russians will not evade the meeting."
"And of course, all of us in Ukraine would appreciate it if President Trump could be there with us at this meeting in Türkiye. This is the right idea. We can change a lot," Zelenskyy said, adding that Turkish President Recep Tayyip Erdoğan could host such a high-level meeting.
Zelenskyy said he heard Trump say at the White House this morning that he was considering attending the meeting in Turkey on Thursday as part of the first international trip of his second term.
Trump said he thinks that Zelenskyy and potentially Russian President Vladimir Putin will be there.
"I’ll be someplace in the Middle East, but I would fly there if I thought it would be helpful," Trump said.
Trump is visiting Saudi Arabia, Qatar and the United Arab Emirates during the trip.
Deputy Attorney General Todd Blanche has also been named as the acting Librarian of Congress
Deputy Attorney General Todd Blanche is now also serving as the acting librarian of Congress, a Justice Department official and another source familiar with the matter told NBC News. Blanche is a former Trump defense attorney.
Two men went to the Copyright Office this morning with a letter signed by Trump naming Blanche to that role, as well as two others to leadership positions at the Library of Congress, a source familiar with the matter said.
The other appointees include Brian Nieves as acting deputy librarian and Paul Perkins as acting copyright registrar. The White House and various congressional offices didn't immediately respond to NBC News' requests for comment about the new leadership.
The appointments come just days after Trump fired Carla Hayden as the librarian of Congress and Shira Perlmutter as the top U.S. copyright official.
Trump administration fires top copyright official days after firing librarian of Congress
The Trump administration has fired the nation’s top copyright official, Shira Perlmutter, days after abruptly terminating the head of the Library of Congress, which oversees the U.S. Copyright Office.
The office said in a statement yesterday that Perlmutter received an email from the White House a day earlier with the notification that “your position as the Register of Copyrights and Director at the U.S. Copyright Office is terminated effective immediately.”
Tlaib backs primary against House colleague
Rep. Rashida Tlaib, D-Mich., is backing a Democratic state lawmaker in his primary challenge against one of Tlaib's colleagues in Congress, Rep. Shri Thanedar, also a Democrat.
State Rep. Donovan McKinney announced Tlaib's endorsement on his social media platforms, where he took a dig at Thanedar.
A House member endorsing against a peer from the same party is relatively rare, but Thanedar has had a rocky relationship with Tlaib over their disagreements over the war between Israel and Hamas in Gaza, and recently faced scrutiny for his office's spending on advertising.
Trump floats removing sanctions on Syria
Trump said he was considering removing the U.S. sanctions on Syria, which have been in place from Bashar al-Assad's dictatorial reign during the country's bloody civil war.
Assad's regime collapsed in December as he fled the country in the wake of rebel forces' rapid advancement. Ahmad al-Sharaa, a former leader of the Islamist group Hayat Tahrir al-Sham, is now the country’s interim president. The U.S. designated HTS as a foreign terrorist organization in 2014.
"We're going to have to make a decision on the sanctions, which we may very well relieve. We may take them off of Syria because we want to give them a fresh start," Trump told reporters.
"The way we have them sanctioned, it doesn't really give them much of a start," he added.
Trump says he could attend potential Russia-Ukraine talks Thursday
Trump said he was considering attending potential Russia-Ukraine talks on Thursday.
Ukrainian President Volodymyr Zelenskyy has said he is prepared to meet with Vladimir Putin after the Russian leader said the country was ready for direct talks with Ukraine in Turkey.
"I was thinking about flying over," Trump told reporters at the White House. "I don't know where I'm going to be on Thursday, I've got so many meetings. But I was thinking about actually flying over there. There's a possibility of it, I guess, if I think things can happen. But we got to get it done."
Trump signs executive order that aims to slash drug prices by 59%
Trump signed a sweeping executive order today that aims to cut prescription drug costs in the U.S. by aligning what the government pays for certain medications to the prices paid in other countries.
The order, experts say, is a reimagined and far more aggressive version of Trump’s policy during his first term to cut drug costs, which failed to take effect after a federal judge blocked it.
Top Democrat in Iowa announces run for governor
Rob Sand, Iowa's state auditor and its only statewide Democratic officeholder, announced a bid for governor today as the state looks to replace GOP Gov. Kim Reynolds, who isn't running for re-election.
Sand launched his bid in a direct-to-camera video on social media, pitching himself as post-partisan in a launch video.
"A lot of politicians yap about making a place redder or bluer, I want Iowa to be better and truer," he says in his launch video that touts his time as a prosecutor and in statewide office. In summing up his time as auditor, Sand uses language Republicans have used in recent months to tout their attempts to trim government — he says his office "uncovered a record amount of waste, fraud and abuse."
A Democrat hasn't won a gubernatorial election in the state since 2006, making Republicans bullish on their attempts to hold the seat next year. But Sand won two terms as auditor on the same ballot that Reynolds won her elections on, showing the ability to win crossover votes.
Sand is likely to be the most prominent Democrat running, and the GOP field is still shaping up.
Trump says American hostage Edan Alexander to be released from Gaza today
Trump announced in his remarks from the White House that American Edan Alexander, the last living U.S. hostage taken by Hamas on Oct. 7, will be released today from Gaza.
"I’m very happy to announce that Edan Alexander, an American citizen who, until recently, most thought was no longer living, thought was dead, is going to be released in about two hours actually, and he’s going to be released before the eyes of Steve Witkoff, who’s done a fantastic job," Trump said, referring to the administration's key hostage negotiator.
Trump, who's heading to the Middle East on his first foreign trip of his second term today, said Alexander would be released in "about two hours" and then said "or sometime today."
"They thought he was dead just a short while ago," the president continued. "His parents are so happy, they’re so happy."
"As you know, Edan is the only American citizen captured and held hostage by Hamas since October 7, 2023, and he’s coming home to his parents, which is really great news," Trump said.
The U.S. special envoy for hostage response, Adam Boehler, posted a photo on X last night from aboard a plane with Alexander's mother heading to the region to be reunited with her son.
Trump clarifies what Chinese imports won't get tariff reductions
Trump listed multiple categories of Chinese imports that would not be included in the tariff rate reduction announced this morning.
The agreement "doesn't include tariffs on cars, steel, aluminum, things such as that, or tariffs that may be imposed on pharmaceuticals, because we want to bring the pharmaceutical businesses back to the United States," Trump said.
His comments came during remarks to the press this morning at the White House.
Fight over Medicaid cuts heats up as House Republicans release bill
House Republicans released legislative text yesterday evening of a key portion of their party-line agenda bill that includes cuts and other changes to Medicaid, one of the most contentious issues they face in trying to advance Trump’s agenda in one sweeping package.
The legislation released by the Energy and Commerce Committee heads to a markup tomorrow afternoon, and includes a 160-page section covering health care and Medicaid.
Trump admin’s threat to suspend core U.S. legal right sparks outcry and alarm
Legal experts and Democrats expressed growing alarm over the weekend that Trump administration officials are openly discussing unilaterally suspending habeas corpus — a bedrock American legal right — without the approval of Congress.
The writ of habeas corpus, which dates back centuries, grants anyone detained in the U.S. the right to see a judge, challenge the government’s evidence against them and present a defense.
Former Michigan state House speaker launches Democratic bid for Senate
Former Michigan House Speaker Joe Tate is joining the crowded Democratic primary for the U.S. Senate seat being vacated by Sen. Gary Peters.
Tate launched a Senate bid Monday with a video touting his roots in Detroit, his background as a combat Marine and college football player, as well as his work as the state's first Black House speaker to frame himself as someone who gets things done.
"Washington has broken faith with us. Instead of creating opportunity for all, Donald Trump and the Republicans are cutting taxes for the wealthy, and they're betraying our senior citizens and my fellow veterans to do it," he says in the video.
Tate will be running in a crowded Democratic primary that includes state Sen. Mallory McMorrow, U.S. Rep. Haley Stevens and former county health official Abdul El-Sayed.
State lawmaker announces Florida gubernatorial bid after leaving Democratic Party
Florida state Sen. Jason Pizzo, fresh off a high-profile break with the Democratic Party, told a local CBS affiliate he's running for governor as an independent (in Florida politics, it's referred to as "no party affiliation" or NPA).
In the interview, he criticized the "rhetoric" of Republicans in the state but also said Democrats overreact "to every little step or statement that the Republicans make," according to CBS. He framed himself as focused on the kitchen table issues that matter to Floridians and claimed he'd be able to win over the millions who don't affiliate with either party.
U.S. Rep. Byron Donalds is running for governor in Florida, while Gov. Ron DeSantis' wife, Casey DeSantis, has been weighing a bid — both as Republicans.
Treasury yields soar as U.S. and China agree to slash tariffs
U.S. Treasury yields moved higher today after the U.S. and China agreed to slash tariffs on each other’s goods, in a move welcomed by investors.
At 5:09 a.m. ET, the 10-year Treasury yield was up nearly 6 basis points to 4.433%, while the 2-year Treasury yield jumped 10 basis points to 3.996%
One basis point is equal to 0.01% and yields and prices move in opposite directions.
U.S.-China breakthrough sends tech and chip stocks soaring
Global technology and chip stocks rallied today after the U.S. and China agreed to pause most tariffs on each other’s goods.
Technology stocks — such as semiconductor firms and smartphone makers — have been hit hard as trade tensions between the world’s two largest economies threatened to disrupt supply chains and hurt some of the biggest U.S. businesses.
But investors breathed a sigh of relief after talks between the U.S. and China over the weekend yielded a temporary pause in “reciprocal” tariffs.
Rubio urges India and Pakistan to maintain ceasefire during call with British foreign secretary
Secretary of State Marco Rubio emphasized the administration's support for a ceasefire between India and Pakistan during a call with his British counterpart, David Lammy, last night, the State Department said.
"The Secretary expressed U.S. support for direct dialogue between India and Pakistan and encouraged continued efforts to improve communications," State Department spokesperson Tammy Bruce said in a statement.
On the conflict between Ukraine and Russia, Rubio told Lammy the government's "top priority remains bringing an end to the fighting."
Bessent says he imagines U.S. and China meeting again in 'next few weeks'
Treasury Secretary Scott Bessent struck an optimistic tone about the future of U.S.-China trade, saying in a CNBC interview this morning that he thought a trade deal Trump signed with China during his first term could be a starting point for the two countries.
Bessent said there was “no sense of anxiety, there was a sense of moving forward” during this weekend’s talks.
“There was a sense of mutual respect,” he said. “There was a sense that we had shared interests.”
Bessent emphasized that the U.S. does not want “a generalized decoupling from China.”
“What we do want is a decoupling for strategic necessities which we were unable to obtain during Covid, and we realized that efficient supply chains were not resilient supply chains,” he said.
Bessent said the two sides now have a “meeting mechanism,” noting that “I would imagine that in the next few weeks, we will be meeting again to get rolling on a more fulsome agreement.”
Trump snubs traditional allies and marks Gulf power with his first major foreign trip
Trump will return to familiar ground in Saudi Arabia this week, choosing the kingdom as the destination for his first major foreign trip of his second term, just as he did in 2017 — once again bypassing the traditional allies who have usually hosted presidents.
The decision underscores a broader Trump White House strategy, prioritizing the Middle East’s economic and strategic influence over North America’s deep-rooted trade and security ties.
Trump mocks Democratic backlash to his plans to accept a jet from Qatar
Trump mocked last night Democratic backlash to his administration's plan to accept a Boeing super luxury jet, estimated to be worth hundreds of millions of dollars.
"So the fact that the Defense Department is getting a GIFT, FREE OF CHARGE, of a 747 aircraft to replace the 40 year old Air Force One, temporarily, in a very public and transparent transaction, so bothers the Crooked Democrats that they insist we pay, TOP DOLLAR, for the plane," Trump wrote on Truth Social, in a post that goes on to call the party "world class losers."
Democrats roundly criticized reports that Trump was planning to accept the gift, arguing it violates a provision of the Constitution that bars federal officials from accepting gifts from foreign governments without Congressional consent.
Rep. Ritchie Torres, D-N.Y., called for an investigation into the gift on Sunday, describing it as a "flying grift" that is the "most valuable gift ever conferred on a President by a foreign government.”
“Rather than enforcing ethics, the Attorney General has affixed the Department of Justice’s seal of approval to a transaction that flagrantly violates both the letter and the spirit of the Constitution’s Emoluments Clause,” Torres wrote in a letter to the head of the Government Accountability Office, the acting Inspector General of the Defense Department and the acting director of the Office of Government Ethics.
White House Press Secretary Karoline Leavitt said on Sunday that “any gift given by a foreign government is always accepted in full compliance with all applicable laws."
Trump to sign order lowering prescription drug prices
Trump is set to sign an executive order today at 9 a.m. that aims to lower prescription drug prices, according to a Truth Social post published yesterday.
Trump said he would sign an order reducing prices “almost immediately” by 30% to 80%.
Prescription drugs in the U.S. can cost up to 10 times more than in other countries of the same size and wealth, according to public policy think tank the Rand Corporation. The order is expected to institute a pricing model dubbed the “most favored nation” approach, in which the U.S. pays no more for drugs than the lowest prices paid by other wealthy nations. The president tried to enact a similar policy during his first term, but hit an obstacle after a lawsuit from the pharmaceutical industry.
The order would come on the heels of another action regarding pharmaceuticals. Trump signed an order last week promoting the manufacturing of pharmaceuticals in the U.S.
U.S. and China agree to slash reciprocal tariffs in major step toward easing trade war
The United States and China said Monday they had agreed to a 90-day pause on most of the tariffs they have imposed on each other since last month, in a major step toward easing a trade war between the two powers that has rattled the global economy.
U.S. tariffs on Chinese imports will be cut to 30% from 145%, while China’s levies on U.S. imports will be cut to 10% from 125%, the two countries said in a joint statement.