Wednesday, June 4, 2025

Trump's trade agenda enters new phase

President Donald Trump is implementing new tariff hikes on aluminum and steel on Wednesday. ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
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On Politics

Wed Jun 4 2025

 

Rebecca Morin Newsletter Writer

@RebeccaMorin_

Hello! Rebecca Morin here. In case you missed it: Elon Musk, once a fixture in the White House, trashed President Donald Trump's sweeping tax and policy bill, calling it a "disgusting abomination."

The next phase in Trump's trade agenda

No more "TACO ?" Despite repeated mockery for backing down from previous big tariff announcements, President Donald Trump is implementing new tariff hikes on Wednesday. Trump is increasing tariffs on aluminum and steel imports to 50%, double the amount from a previously imposed tariff. The Trump administration also issued a letter this week urging nations to provide an update on the status of negotiations by Wednesday. The new phase of Trump's tariff agenda isn't stopping there: the tariffs are expected to be a major topic in upcoming discussion with two foreign leaders, Germany's new chancellor, Friedrich Merz, and Chinese President Xi Jinping, who he is set to have a phone call with. What to know about Trump pushing forward with tariffs.

As Trump focuses on his tariff agenda, he is also ramping up his call for Federal Reserve Chair Jerome Powell to lower interest rates in response to new data showing U.S. employers in May added the fewest number of workers in more than two years. Private employers added only 37,000 jobs in May, according to the ADP National Employment Report released on June 4, significantly fewer than the 110,00 jobs that economists polled by Reuters had predicted. Trump said "Powell must now LOWER THE RATE."
Still, U.S. stocks opened slightly higher Wednesday despite the worrying data on jobs from the DP and a lack of progress on tariff negotiations.
A new nonpartisan analysis released Wednesday said Trump's tariffs would reduce federal deficits by $2.8 trillion over the next 10 years. However, the report from the Congressional Budget Office also noted that tariffs would slightly reduce economic output in the United States by 0.6% over the next 10 years, and contribute to a moderate 0.4% increase in inflation over the next year because the cost of consumer goods is expected to rise as a result of tariff policy.

Usa Trump Tariffs Lawsuit

President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House on April 2, 2025.

Carlos Barria, REUTERS

A politics pit stop

Breaking: Karine Jean-Pierre leaves Democratic Party to become an independent.
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Hegseth strips gay icon's name from U.S. Navy ship.
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Top Cuban official accuses Trump admin of escalating tensions.

Trump cancels Biden-era guidance protecting emergency abortions

The Trump administration has rescinded a Biden administration policy informing hospitals and doctors that they can provide emergency abortions to stabilize pregnant women, even in states restricting abortions. The Trump administration said Tuesday the guidance and communications from the Biden administration on emergency abortions "do not reflect the policy of this administration." What to know about the policy change.

Trump and Vance take center stage

President Donald Trump and First Lady Melania Trump will hear the people sing. The two, alongside Vice President JD Vance and Second Lady Usha Vance, are set to attend the opening-night showing of the musical Les Misérables at the Kennedy Center next week. The Trumps are making a rare public appearance in Washington's nightlife by visiting the cultural institution the president controversially took over. Some of the musical's cast members plan to sit out of the show that night, CNN and the Washington Post reported. Trump's Kennedy Center takeover has sparked a significant backlash.

Got a burning question, or comment, for On Politics? You can submit them here or send me an email at rdmorin@usatoday.com.

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MTG under fire after opposing AI provision in Trump tax bill

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