“Some in our media can’t contain their glee and delight in reporting that the U.S. has more Coronavirus cases than China.”
— Sen. Marco Rubio (R-FL), on Twitter.
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Bonus Quote of the Day
“You have been watching the greatest economic master strategy from an American president in history.” — Trump adviser Stephen Miller, on X. Save to Favorites
Tariff Man Folded
Eurointelligence: “What happened is that the bond markets had become dysfunctional as investors suffered heavy losses from the crash in equity markets, and needed to liquidate positions by selling bonds….
E.U. Pauses New Tariffs After Trump Blinks
“The European Union will pause its retaliatory tariffs on U.S. imports for 90 days, the bloc announced Thursday, a day after President Trump abruptly backed down on his punishing global…
China and U.S. Headed for ‘Monumental’ Split
“A dizzying escalation of tariffs has unraveled a trade relationship between the United States and China forged over decades, jeopardizing the fate of two superpowers and threatening to drag down…
U.S. Stocks Set to Tumble Again
“The U.S. stock market, fresh off its third-best day in modern history, is sinking back into reality: Although President Donald Trump paused most of his ‘reciprocal’ tariffs, his other massive…
Trump’s Trade Math Ignores a Major Export
“President Trump is wielding tariffs to try to close the massive U.S. trade deficit in goods, which he sees as a sign of economic weakness,” the Wall Street Journal reports….
The Bond Market Did What GOP Lawmakers Wouldn’t
Jonathan Martin: “As markets swooned along with Trump’s approval rating on the economy, the response from many congressional Republicans hasn’t just been deference but detachment, like they’re doing color commentary…
The World Knows Trump Is Erratic and Weak
Paul Krugman: “Anyone sounding the all-clear on tariffs, or Trump economic policy in general, should be kept away from sharp objects and banned from operating heavy machinery. We’re in a…
Democrats Favored to Take Control of House in 2026
Larry Sabato’s Crystal Ball: “History suggested Democrats would be favored to flip the House in 2026 as soon as Donald Trump clinched the presidency in 2024.” “Little that’s happened over…
Trump Has Tightly Restricted Access to Intelligence Brief
“The Trump administration has tightly restricted the number of people who have access to President Donald Trump’s highly classified daily intelligence report,” CNN reports. “Administration officials planned from the earliest…
Trump Orders Probe Into Two First-Term Aides
“President Donald Trump is targeting two former first-term appointees over their criticism of his actions, stripping their security clearances and opening federal probes of their tenures,” Politico reports. “The directives…
JPMorgan Still Sees Recession for Later This Year
JPMorgan says President Trump’s pause of tariffs on most countries makes “the prospect of a recession is a closer call. However, we still think a contraction in real activity later…
Quote of the Day
“What a day, but more great days coming!!!” — Donald Trump, on Truth Social at 12:45 a.m. this morning. Save to Favorites
What Happens Now?
Felix Salmon: “We’ve never lived in a world of anything remotely close to 125 percent tariffs on one of our largest trading partners which means the effects of such things…
A Massive Trade War Continues
Playbook: “America wakes up to a trade war this morning — just not the one we’d been promised. Trump’s bond-market-induced case of the yips may have won tariff reprieves for…
Trump’s Tariff Whiplash Leaves World Confused
“President Trump’s epic tariff retreat shows there is no grand strategy for revolutionizing global trade, and that he’s governing — as he always has — through gut instinct,” Axios reports….
Trump’s Encouragement of Investors Draws Scrutiny
“President Trump began his Wednesday with some advice for those rattled by his steep tariffs,” the New York Times reports. Said Trump, on social media: “BE COOL. THIS IS A…
Reality Strikes House Republicans
Punchbowl News: “Just after 8 p.m. last night, the check came due for Speaker Mike Johnson and President Donald Trump.” “Johnson and House GOP leaders delayed a vote on a…
Ted Cruz Breaks Ranks with Trump
“Sen. Ted Cruz stuck out his neck to critique Donald Trump’s actions on tariffs, warning they could have resulted in a political ‘bloodbath’ for the party had the president not…
The Bond Market’s Ominous Message for Trump
Wall Street Journal: “The stock-market meltdown that accompanied President Trump’s intensifying trade war in recent weeks was unsettling enough. The fall in the dollar and rise in bond yields that…
