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Bonus Quote of the Day

April 4, 2025 at 2:33 pm EDT By Taegan Goddard Leave a Comment

“Don’t even get me started on how disgraced must these law firms feel now, how disgraced must these companies that are sucking up to him, that are giving him tens of millions of dollars for access? Do you know what’s going to happen? Do you know how this ends? Do you know how collaborators with this country are going to feel toward collaborators with this regime? Maybe you need to go in history and see what happened in August of 1944 after Paris was liberated. They didn’t take very kindly to the collaborators. No, it was not a very pretty sight in the streets of Paris.”

— Jame Carville, on his podcast.

‘Everyone Is Terrified’ of Trump

April 4, 2025 at 2:30 pm EDT By Taegan Goddard Leave a Comment

“Capitol Hill Republicans, corporate America and White House allies are terrified about what’s next in President Donald Trump’s escalating trade war. But they fear Trump’s wrath even more,” Politico reports.

“Republican lawmakers are signaling they’re willing to tolerate the pain for now, despite the economic fallout back home. Lobbyists, who are quietly prodding the same lawmakers to defend their interests, don’t want to have a target on their back — or their clients’. Even some Trump world confidantes, alarmed about the tariffs’ impact, are hoping someone else intervenes.”

Said one operative: “There is zero incentive for any company or brand to be remotely critical of this administration. It destroys your ability to work with the White House and advance your policies, period.”

Ted Cruz Warns Tariffs Are ‘Terrible for America’

April 4, 2025 at 2:28 pm EDT By Taegan Goddard Leave a Comment

Sen. Ted Cruz (R-TX) is warning about major risks for the American economy and its automotive industry thanks to President Trump’s trade war, saying it could result in the biggest tax hike in a “long, long time,” Politico reports.

He added that that if countries respond with reciprocal tariffs — which some like China already have — while Trump’s tariffs remain in place, that could be “terrible for America.”


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Senate Takes Up Budget Blueprint Tonight

April 4, 2025 at 2:25 pm EDT By Taegan Goddard Leave a Comment

“Senate Majority Leader John Thune is forging ahead with a plan to adopt a crucial budget blueprint by Saturday after hitting a last-minute snag Thursday afternoon that delayed a procedural vote for hours,” Politico reports.

“Where things almost broke down was lingering GOP concerns that letting Senate Budget Chair Lindsey Graham make the decision on using the ‘current policy baseline’ accounting tactic — which makes an extension of Trump’s 2017 tax cuts appear to cost nothing — sidestepped the chamber’s parliamentarian and could come back to bite them if the final bill runs aground of strict budget rules.”

Said Sen. John Cornyn (R-TX): “People got a little spooked by the fact we weren’t going to the parliamentarian on setting the baseline.”

“During vote-a-rama, look for Democrats to force Republicans to take tough votes on Trump’s tariff escalation.”

Trump Extends TikTok Deadline

April 4, 2025 at 1:46 pm EDT By Taegan Goddard Leave a Comment

Bloomberg: “Trump said he will give Beijing-based ByteDance an additional 75 days to agree to a deal that would sell TikTok’s U.S. operations to an American buyer and avoid a ban that was set to take effect as soon as this weekend.”

Billionaires Have Lost Near Half-Trillion Dollars in 2 Days

April 4, 2025 at 1:36 pm EDT By Taegan Goddard Leave a Comment

“The world’s 500 richest people are seeing the biggest two-day loss ever recorded by the Bloomberg Billionaires Index as fallout from President Donald Trump’s tariff announcement continues to roil global markets,” Bloomberg reports.

“As of 12:20 p.m. in New York, billionaires on the wealth list had lost $485 billion since Thursday’s stock market open.”

Felon Freed by Trump Is Sent Back to Prison

April 4, 2025 at 1:32 pm EDT By Taegan Goddard Leave a Comment

“A violent felon whose sentence was commuted by President Trump was arrested Friday and charged with violating the terms of his supervised release after he was accused of a string of crimes that included assaulting a 3-year-old child,” the New York Times reports.

Europe and China Weigh Closer Economic Ties

April 4, 2025 at 1:07 pm EDT By Taegan Goddard Leave a Comment

Washington Post: “Europe has long looked warily on China’s economic power, discouraged from engaging by the United States but also out of a homegrown sense of distrust. But as Trump levies crippling tariffs on Europe, China and the rest of the rest of the world, the E.U. is cautiously looking to Beijing as one way to achieve what it now calls a need to ‘diversify’ its economic partners in the face of U.S. aggression.”

“Led by Spain and Hungary, some countries in the 27-nation E.U. are actively pushing the bloc away from its stated policy of ‘de-risking’ — a view of China as a strategic competitor that presents as much peril as potential for profit. But in a possible thaw in long tense trade relations, the E.U. and China agreed this week to restart talks over one of the thorniest issues dividing them: European tariffs on Chinese electric vehicles.”

American Brexit

April 4, 2025 at 12:54 pm EDT By Taegan Goddard Leave a Comment

President Trump is now celebrating what he calls “Liberation Day,” a full-throated embrace of American withdrawal from the global trading system.

It’s a message that carries an eerie resemblance to Britain’s ill-fated divorce from the European Union.

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Trump Says China ‘Played It Wrong’

April 4, 2025 at 12:28 pm EDT By Taegan Goddard Leave a Comment

President Trump said China “played it wrong” after Beijing retaliated against new U.S. tariffs, unveiling countermeasures that included additional duties of 34% on U.S. goods, Reuters reports.

Said Trump: “China played it wrong, they panicked — the one thing they cannot afford to do!”

Measles Outbreak Widens in Texas

April 4, 2025 at 12:20 pm EDT By Taegan Goddard Leave a Comment

The measles outbreak in western Texas has hit 481 cases, with 59 newly identified infections confirmed over the last three days, ABC News reports.

Fed Warns of Persistent Inflation

April 4, 2025 at 12:15 pm EDT By Taegan Goddard Leave a Comment

“Federal Reserve chair Jerome Powell said Friday that bigger-than-expected tariffs will translate into higher inflation and slower economic growth — and that the higher inflation could be persistent, not temporary,” Axios reports.

Powell said that the tariffs, and their impacts on the economy and inflation, are “significantly larger than expected.”

“Powell’s remarks suggest that the Fed will offer no imminent relief from plunging markets and scrambled supply chains.”

Trump Claims Vietnam Wants to Negotiate

April 4, 2025 at 12:12 pm EDT By Taegan Goddard Leave a Comment

President Trump said he had a call with Vietnam leader To Lam, and said that the latter wants to cut Vietnam’s tariffs down “to zero if they are able to make an agreement with the U.S.,” the Wall Street Journal reports.

Nearly $10 Trillion Evaporated Since Trump Took Office

April 4, 2025 at 12:09 pm EDT By Taegan Goddard Leave a Comment

MarketWatch: “Since Jan. 17, the Friday before Inauguration Day, the U.S. stock market has seen $9.6 trillion in value erased… Of those losses, $5 trillion has been erased just over the past two days — the largest two-day loss on record.”

Gavin Newsom Negotiating His Own Trade Agreements

April 4, 2025 at 11:01 am EDT By Taegan Goddard Leave a Comment

“California Gov. Gavin Newsom said Friday he is pursuing agreements with other countries to ensure California is exempted from retaliatory tariffs aimed at the U.S.,” Axios reports.

White House Cancels Garden Tours Ahead of Protests

April 4, 2025 at 10:59 am EDT By Taegan Goddard Leave a Comment

“White House spring garden tours scheduled Saturday were postponed in anticipation of large-scale anti-President Trump protests,” Axios reports.

“The mass movement is catching the eye of the Trump administration before demonstrators even take to the streets.”

The World Threatens Trump’s Agenda

April 4, 2025 at 10:26 am EDT By Taegan Goddard Leave a Comment

Punchbowl News: “The climate in Washington and across the country — both politically and economically — is making it much more difficult for Republicans to pass a massive tax-and-cut plan. Equity markets are getting rocked. Economists are already saying that a recession is possible. It will be difficult for Republicans to make the case that they should cut government spending. One almost wonders if the president should’ve waited on his tariff regime until after the reconciliation bill was passed.”

“The last two weeks especially – with Trump’s tariff frenzy and the Signal scandal dominating – have left Senate Republicans exhausted and more grumpy than usual during their closed-door meetings, per our conversations with GOP senators this week.”

“And for the budget reconciliation package, the costs of failure could not be higher. A vast majority of Americans would see a tax increase. Remember, too, that Republicans are trying to use the legislation to raise the debt limit, which likely needs to be done by late spring or early summer.”

Trump’s Tariff Math

April 4, 2025 at 10:00 am EDT By Taegan Goddard Leave a Comment

Matt Levine: “I have a patriotic appreciation for the U.S.’s export industry of finance, and two of that industry’s most popular products are: (1) Sprinkling some Greek letters on your work to add visual interest, and (2) Making up parameters to solve for the result you want. Even in this tariff announcement, you see the U.S. leaning into its comparative advantage.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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