Bloomberg: “Since he kicked off his campaign, Trump’s empire has landed billions of dollars of deals at home and abroad.”
Trump Approves ‘Partnership’ of U.S. Steel and Nippon
Pittsburgh Post-Gazette: “Trump heralded the deal that would keep U.S. Steel in America and its headquarters in Pittsburgh… The language of ‘partnership’ as opposed to ‘acquisition’ harkens back to Trump’s comments earlier this year when he sought to reframe the relationship between Nippon and U.S. Steel.”
“Nippon, for its part, has not wavered from the structure of the original deal.”
The Revolt Against Expertise
New Yorker: “It used to be progressives who distrusted the experts. What happened?”
EPA Wants to Erase Greenhouse Gas Limits
New York Times: “In its proposed regulation, the agency argued that carbon dioxide and other greenhouse gases from power plants that burn fossil fuels ‘do not contribute significantly to dangerous pollution’ or to climate change…”
“But in the United States, the power sector was the second biggest source of greenhouse gases … The proposed regulation is part of a broader attack by the Trump administration on the established science that greenhouse gases threaten human health and the environment.”
How Trump Defeated Columbia
New York Magazine: “The inside story of an unconditional surrender.”
Fetterman Says He’s Been Shamed Into Returning
“When Senator John Fetterman, Democrat of Pennsylvania, showed up at a hearing on May 8 with Sam Altman, the chief executive of OpenAI, his colleagues were surprised to see him. Until then, his chair on the dais of the Senate Commerce, Science and Transportation Committee had sat empty all year,” the New York Times reports.
“But under intense scrutiny about his mental health and his ability to function in his job, Mr. Fetterman has been in damage control mode, attending hearings and votes that he had been routinely skipping over the past year…”
“Mr. Fetterman does not enjoy participating in these hearings that he has sat through in recent weeks as he seeks to prove that he is capable of performing the job he was elected to do until 2028. In fact, at a critical moment for the country, he appears to have little interest in the day-to-day work of serving in the United States Senate.”
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‘The Food Sucked’ at Trump’s Meme Coin Dinner
CNBC spoke to 25-year old Nicholas Pinto, who was one of the 220 guests invited to Donald Trump’s crypto dinner.
Said Pinto: “The food sucked. Wasn’t given any drinks other than water or Trump’s wine. I don’t drink, so I had water. My glass was only filled once… He didn’t talk to any of the 220 guests — maybe the top 25.”
“All in, the president was there for 23 minutes, Pinto said. Trump delivered a brief address rehashing old crypto talking points then left on a helicopter before taking any questions or pictures with his meme coin contest winners, he said.”
Trump Ignores Economic Warning Signs
“One day after House Republicans approved an expensive package of tax cuts that rattled financial markets, President Trump pivoted back to his other signature policy priority, unveiling a battery of tariff threats that further spooked investors and raised the prospects of higher prices on American consumers,” the New York Times reports.
“For a president who has fashioned himself as a shrewd steward of the economy, the decision to escalate his global trade war on Friday appeared curious and costly. It capped off a week that saw Mr. Trump ignore repeated warnings that his agenda could worsen the nation’s debt, harm many of his own voters, hurt the finances of low-income families and contribute far less in growth than the White House contends.”
The Week That Derailed Joe Biden’s Post-Presidency
“When Joe Biden left office in January, he sought to follow the template set by his predecessors for a post-presidency: Raise funds for a library, deliver a memoir and hit the speaking circuit,” the Wall Street Journal reports.
“Instead, he has been derailed by a battle to salvage his tarnished legacy—and an urgent fight against stage-4 prostate cancer that kills most men within five years. A stream of new books detailing the extent of his decline while in office and the efforts to conceal it has spawned a fresh round of recriminations over the 82-year-old’s presidency.”
Immigration Arrests at Courthouses Signals New Tactic
“Masked officers descended on courthouses across the country this week and arrested stunned immigrants showing up for scheduled immigration hearings as part of a new directive from federal officials aimed at dramatically accelerating deportations,” the Washington Post reports.
“U.S. Immigration and Customs Enforcement officers in Arizona, Virginia and more than 20 other states have been instructed to arrest people immediately after a judge has ordered them to be deported or after prosecutors move to drop their cases.”
Trump Flexes Muscles to Force Republicans to a Deal
“President Trump used every lever of power available to muscle a massive tax bill through the House, showing his iron grip on the Republican Party four months into his second term,” the Wall Street Journal reports.
“Now, to get the legislation to his desk, he next will need to get it through the Senate, and then likely drive a changed bill back through the House.”
“Trump this week aggressively pushed lawmakers to come together—at times cursing, at times cajoling and ultimately demonstrating his control over the party he has transformed since entering politics in 2015.”
Republican Bill Would Limit Judges’ Contempt Power
“The sprawling domestic policy bill Republicans pushed through the House on Thursday would limit the power of federal judges to hold people in contempt, potentially shielding President Trump and members of his administration from the consequences of violating court orders,” the New York Times reports.
“Republicans tucked the provision into the tax and spending cut bill at a time when they have moved aggressively to curb the power of federal courts to issue injunctions blocking Mr. Trump’s executive actions.”
Trump Seeks Extensive Student Data at Harvard
“The latest confrontation between Harvard University and the Trump administration began last month with a far-reaching demand for data on international students,” the New York Times reports.
“Kristi Noem, the secretary of the Department of Homeland Security, sent a letter to Harvard requesting, among other things, coursework for every international student and information on any student visa holder involved in misconduct or illegal activity.”
“Harvard rebuffed parts of the request, and the Trump administration retaliated on Thursday. In one of its most aggressive moves so far against the university, the government said Harvard could no longer enroll any international students, who account for about one-fourth of its total enrollment.”
Trump Downsizes National Security Council
“President Donald Trump moved to dramatically downsize the National Security Council, part of a restructuring that could see the group responsible for coordinating and implementing foreign policy at the White House cut in half,” Bloomberg reports.
CNN reports some NSC officials were placed on administrative leave and given less than two hours to clean out their desks.
Why Trump Lashed Out at Europe Over Trade
“President Trump’s surprise tariff threat against the European Union came in the midst of deepening frustration on his economic team over the 27-nation bloc’s approach to taxes, regulations and China,” the Wall Street Journal reports.
“Trump’s advisers have privately expressed irritation to European officials that EU member nations’ differing trade priorities have slowed down the talks, according to people familiar with the discussions. The advisers have complained about what they see as Europe’s cautious approach to the negotiations and what they refer to as the EU’s reluctance to make concrete offers that address U.S. concerns.”
Politico: Trump revives global trade war.
Paul Weiss Loses Partners in Wake of Trump Deal
Investors Are Sending a Warning to Congress
Victoria Guida: “As Republicans haggled this week over a tax bill that would add trillions to federal deficits, the long-term cost of financing the national debt surged. That wasn’t a coincidence — it was a warning. And it was as gently as the bond market is going to warn the U.S. that the path of the national debt is a problem…”
“In conversations with investors this week, I heard a new level of focus on the sheer volume of debt that Washington is set to pump out and, in some cases, real concern about how it will play out in markets. It was a shift from the perennial elite conversation, where the consensus has generally been that the debt is a worry, but not an immediate one. … Congress is not known for heeding gentle warnings.”
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