Trump tries to save Tesla, recession fears, and dismantling the DOE: Politics news roundup
President Donald Trump's burgeoning clashes with some of the U.S.' top trade partners aren't just trade disputes — they could be part of an economic war, according to one expert. Tariffs — which are set to slam most U.S. industries, including tech and media companies — are just part of that.
Those duties on imports from foreign countries are also expected to hinder economic growth and potentially lead to a recession, which the president has yet to rule out as a possibility. The Federal Reserve has also raised its forecast for inflation and unemployment, even as uncertainty clouds its economic projections.
Catch up on all that and more — including how the White House is trying to give Elon Musk's Tesla a helping hand and what Trump's push to weaken the Education Department could mean for millions of Americans — in this week's politics roundup.
As protests — peaceful and violent — against Tesla (TSLA) and its CEO Elon Musk show no signs of slowing down, the White House is stepping in.
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In the first few weeks of his second administration, President Donald Trump has followed through — then pulled back — on tariff threats, sending stocks tumbling into correction territory. — Britney Nguyen
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With the U.S. Department of Education on the chopping block, the agency is getting more scrutiny than usual. But what does the Department of Education do? Experts lament the impact the Department's demise will have on some of its lesser-known roles. — Kevin Williams
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President Donald Trump's ever-shifting trade war could cost the U.S. technology, media, and telecommunications (TMT) industry billions of dollars annually, according to a new PwC report analyzing the impact of ongoing tariffs. With heightened duties — particularly on imports from China — companies are scrambling to assess financial risks and rethink supply chains. — Bruce Gil
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Commerce Secretary Howard Luntick made a direct public recommendation on Wednesday that Americans should buy shares of Tesla (TSLA), the company run by Elon Musk.
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President Donald Trump's policies on trade, government employment, and immigration will cause an unnecessary economic recession if they're fully or almost fully enacted, while also boosting inflation, according to the UCLA Anderson Forecast. — Josh Fellman
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As Wall Street grapples with the increasing likelihood of a U.S. recession, the Trump administration has gone to bat defending President Donald Trump's stock market-slamming trade policies.
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The Federal Reserve kept interest rates on hold on Wednesday as expected, but it raised its inflation and unemployment forecasts, trimmed its GDP projection, and slowed the pace of the sale of some assets from its balance sheet. The CPI outlooks for this year and next are now 2.7% and 2.2%, respectively. — Josh Fellman
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The Hill
18 minutes ago
- The Hill
ICE raids accelerate, protests spread
Evening Report is The Hill's P.M. newsletter. Sign up here or subscribe in the box below: Thank you for signing up! Subscribe to more newsletters here THE WHITE HOUSE vowed Wednesday that Immigration and Customs Enforcement (ICE) raids would continue 'unabated,' as protests spread from Los Angeles into other major American cities. Demonstrations have sprung up in Washington, D.C., Philadelphia, Chicago, Austin, Denver, San Francisco and other major cities. California Gov. Gavin Newsom (D) sought to rally the nation to his side, as U.S. Marines prepared to join National Guard troops dispatched to keep the peace in Los Angeles. 'This isn't just about protests here in Los Angeles,' Newsom said in a direct-to-camera address. 'This is about all of us. This is about you. California may be first, but it clearly will not end here. Other states are next. Democracy is next. Democracy is under assault before our eyes.' The White House warned protesters there would be consequences if demonstrations in other cities get out of hand. 'Let this be an unequivocal message to left-wing radicals in other parts of the country who might be thinking about copy-catting the violence in an effort to stop this administration's mass deportation efforts,' said press secretary Karoline Leavitt. 'You will not succeed. Any lawlessness will only strengthen this president's resolve to defend the majority of Americans who want to live their lives peacefully, free from the fear of violent criminal illegal aliens.' The New York Police Department said at least 80 people were arrested at anti-ICE protests in lower Manhattan on Tuesday night. Texas Gov. Greg Abbott (R) deployed the National Guard to deal with protests in his state. 'Peaceful protest is legal,' Abbott posted on X. 'Harming a person or property is illegal & will lead to arrest. @TexasGuard will use every tool & strategy to help law enforcement maintain order.' ICE took more than 70 people into custody during an immigration enforcement operation at a meat packaging facility in Omaha. Leavitt said more than 330 people in the country illegally have been arrested in Los Angeles over the past few days, and that more than 100 had prior criminal convictions. 'This administration is going to continue the mass deportation effort that the president promised the American public,' she said. President Trump's border czar Tom Homan said the protests are making immigration raids and deportations 'difficult' and 'dangerous' for the officers seeking to carry them out. 'They're not going to stop us,' Homan told 'NBC Nightly News' anchor Tom Llamas. 'They're not going to slow us down.' Organizers with 'No Kings' are planning about 1,500 demonstrations across the country to protest the military parade scheduled for Saturday in D.C. to mark the Army's 250th birthday. It's also Trump's 79th birthday. Protests and boycotts could also be in effect tonight at the Kennedy Center, where Trump and first lady Melania Trump will attend a production of 'Les Misérables.' LOS ANGELES ON EDGE Hundreds of U.S. Marines are expected to be deployed soon alongside the thousands of National Guard troops in Los Angeles, which has been racked by vandalism, looting and some violent altercations with the police. Los Angeles Mayor Karen Bass (D) instituted an 8 p.m. curfew on Tuesday night, resulting in dozens of arrests for those who stayed out. Two men have been arrested for allegedly possessing Molotov cocktails. Attorney General Pam Bondi said Los Angeles is 'at a good point.' 'We're hoping it's going to get under control, we hope the curfew will work and we're going to continue to do everything we can to keep California safe if the government of California is not going to help them,' Bondi said. Newsom fumed at what he described as federal interference that furthered the chaos. 'This brazen abuse of power by a sitting president inflamed a combustible situation,' he said. A judge rejected Newsom's request to limit troop deployment, pending a Thursday hearing. The Department of Justice called Newsom's lawsuit a 'crass political stunt.' On Thursday, three Democratic governors from blue 'Sanctuary States' will testify before Congress: Govs. Tim Walz (Minn.), Kathy Hochul (New York) and JB Pritzker. 'Sanctuary cities and states will no longer be allowed to shield illegal criminal from deportation,' Leavitt said. 💡Perspectives: • American Conservative: Trump, Newsom play to their bases. Who will win? • Washington Post: Dems ignored the border. The consequences are here. • The Liberal Patriot: Both parties lose the plot on immigration. • The New York Times: The military may find itself in an impossible situation. • City Journal: Trump's unapologetic defense of the rule of law. Read more: • Trump team to send thousands of migrants to Guantanamo. • McIver indicted on federal charges for immigration center encounter. • Senate Dems spar with Hegseth over legality of Los Angeles deployments. • Dems rage against Trump's moves in LA, as some worry about optics. • GOP backs Trump on LA, but there's skepticism over deploying Marines. CATCH UP QUICK NEWS THIS AFTERNOON Trump, Musk talk reconciliation President Trump and Elon Musk are talking about reconciliation, days after their relationship imploded in a mess of threats and allegations. Early Wednesday morning, Musk expressed regret over the feud, which he escalated by alleging Trump had ties to convicted sex offender Jeffrey Epstein. 'I regret some of my posts about President @realDonaldTrump last week,' Musk wrote just after 3 a.m. EDT. 'They went too far.' Trump, who threatened to end government contracts for Musk's companies, was asked if he could reconcile with Musk. 'I guess I could,' Trump said in a podcast interview. 'But you know, we have to straighten out the country. Yeah, and my sole function now is getting this country back to a level higher than it's ever been.' Trump said he was mostly upset at Musk for trying to sink his 'big, beautiful bill.' Musk has been raging at the levels of spending and debt in the Trump agenda bill ever since his time at the White House leading the Department of Government Efficiency (DOGE) came to an end. 'I have no hard feelings,' Trump told the New York Post's Miranda Devine. 'I was really surprised that that happened,' Trump continued. 'He went after a bill… And when he did that, I was not a happy camper.' The New York Times reports that Trump and Musk spoke on the phone ahead of Musk's expression of regret. The latest on the 'big, beautiful bill'… Senate Majority Leader John Thune (R-S.D.) says he'll keep senators in Washington during the July 4 recess to complete work on Trump's agenda bill by the self-imposed deadline. House Republicans are teeing up changes to the bill, with intent of voting later this week. The Hill's Mychael Schnell and Emily Brooks explain: 'The tweaks come after the Senate parliamentarian reviewed the sprawling package and identified provisions that do not comply with the upper chamber's procedural requirements for using the budget reconciliation process, which allows Republicans to circumvent a Democratic filibuster and approve the legislation by simple majority.' MEANWHILE… A pair of House panels voted to advance legislation laying out oversight of the crypto market, amid opposition from Democrats. And House Republicans advanced legislation that calls for more than $450 billion to fund the Department of Veterans Affairs, military construction and other programs for fiscal 2026. It's the first of the 12 annual funding bills House GOP appropriators are hoping to move out of committee before Congress leaves for its August recess. 💡Perspectives: • The Spectator: The tech-MAGA alliance is far from over. • Very Serious: A terrible field of New York mayoral candidates. • The Hill: Trump, Congress can end abuse of taxpayers by PBS and NPR. • The Guardian: Trump wages war against U.S. citizens. • MSNBC: Americans prep for nationwide 'No Kings' rallies. Read more: • House GOP schedule interviews with former Biden aides. • Foreign investors recoil from 'discriminatory' tax in Trump's big bill. • 5 takeaways from the New Jersey primaries. • Sergio Gor cements himself as 'vital' part of Trump's White House. • Most voters in favor of Trump's 'most favored nation' drug price policy. IN OTHER NEWS US, China agree to new trade framework U.S. and Chinese officials announced an agreement in principle on a new trade framework after three days of meetings in London. The deal effectively restores a previous agreement, which the U.S. had accused China of breaking. Both countries will lower tariffs and roll back export controls on goods that are critical to technology. The deal still must be signed off on by President Trump and Chinese President Xi Jinping. Trump said over Truth Social the U.S. would impose 55 percent tariffs on Chinese goods, while China would impose a 10 percent tariff on U.S. products. In addition, China will supply magnets and 'any necessary rare earths,' while the U.S. will draw back restrictions on Chinese students attending U.S. universities, Trump said. Trump enjoyed a raft of good news on trade and the economy on Wednesday. An appeals court ruled that the bulk of Trump's tariffs can remain in place for now, extending a pause after a different court ruled the tariffs were illegal. 'A great and important win for the U.S.,' Trump wrote on Truth Social. And the latest Consumer Price Index (CPI) data showed inflation coming in lower than expected, contrary to economic forecasts that predicted tariffs would provoke a spike in inflation. Trump has openly pressured Federal Reserve Chairman Jerome Powell to lower interest rates, but Powell has refused, citing uncertainty from the trade wars. Vice President Vance ripped the Fed on Wednesday, saying Trump has been proven right. 'The president has been saying this for a while, but it's even more clear: the refusal by the Fed to cut rates is monetary malpractice,' Vance posted on X. 💡Perspectives: • The Hill: Military spending is out of control. • The New Republic: The audacity of Trump's self-dealing. • USA Today: Progressives are destroying Democratic norms. • Wall Street Journal: Newsom positions himself as leader of the opposition. • The Economist: Is there a woke right? Read more: • GM investing $4 billion in production shift to US. Someone forward this newsletter to you? Sign up to get your own copy: See you next time!
The Hill
20 minutes ago
- The Hill
US scales back personnel in Middle East as Israel-Iran tensions mount
The United States is scaling back the number of personnel in the Middle East as the tensions between longtime foes Israel and Iran mount. The U.S. is downsizing its footprint in Iraq, while Defense Secretary Pete Hegseth has greenlighted the departures of military dependents across Northeast Africa, the Middle East, and portions of South and Central Asia. 'President Trump is committed to keeping Americans safe, both at home and abroad. In keeping with that commitment, we are constantly assessing the appropriate personnel posture at all our embassies,' a State Department official told The Hill in an emailed statement on Wednesday. 'Based on our latest analysis, we decided to reduce the footprint of our Mission in Iraq.' A defense official told The Hill's sister network NewsNation that 'Hegseth has authorized the voluntary departure of military dependents from locations across the CENTCOM AOR.' 'CENTCOM is working in close coordination with our Department of State counterparts, as well as our Allies and partners in the region to maintain a constant state of readiness to support any number of missions around the world at any time,' the defense official added. DEVELOPING
Fox News
21 minutes ago
- Fox News
Kim Kardashian says immigrants in LA suffering 'fear and injustice' thanks to Trump immigration plan
Despite working with President Donald Trump on issues in the past, Kim Kardashian indicated on Friday she does not support his administration's immigration policy. In a recent Instagram post, the reality TV star condemned operations conducted by Immigration and Customs Enforcement (ICE), calling them "inhumane." "When we're told that ICE exists to keep our country safe and remove violent criminals — great. But when we witness innocent, hardworking people being ripped from their families in inhumane ways, we have to speak up. We have to do what's right," she stated in an Instagram story Friday. The Los Angeles native shared the post as her hometown continues to be shaken by violent anti-ICE riots that started last week in response to the federal law enforcement agency detaining illegal immigrants. DHS said ICE raids in L.A. over the weekend resulted in "hundreds of illegal aliens [being] arrested by ICE officers and agents," including "many with a criminal history and criminal convictions." Protests and clashes outside multiple locations in downtown L.A. have grown so chaotic that Trump ordered National Guard troops into the city, followed by several hundred U.S. Marines, to restore order. Some California officials, including Gov. Gavin Newsom, have accused the administration of exacerbating the situation. Despite the attacks on cops and other law enforcement officials by rioters, Kardashian argued in her post that immigrants are dealing with "fear and injustice" at the hands of the federal government. She added, "Growing up in LA, I've seen how deeply immigrants are woven into the fabric of this city. They are our neighbors, friends, classmates, coworkers, and family. No matter where you fall politically, it's clear that our communities thrive because of the contributions of immigrants. We can't turn a blind eye when fear and injustice keep people from living their lives freely and safely." "There HAS to be a BETTER way," Kardashian declared, concluding her post. The celebrity followed that post by sharing a video of pop star Doechii bashing Trump and ICE while accepting the of best female hip hop artist award at the BET Awards on Monday night. During her acceptance speech, the musician stated, "There are ruthless attacks that are creating fear and chaos in our communities in the name of law and order," she said. "Trump is using military forces to stop a protest, and I want y'all to consider what kind of government it appears to be when every time we exercise our democratic right to protest, the military is deployed against us." Despite Kardashian's harsh stance on Trump's immigration agenda, she has had a constructive relationship with him in the past. In 2019, she appeared at the White House alongside Trump to promote his criminal justice reform policies, calling them "magic." By that point, Kardashian had been at the White House several times to discuss criminal justice reform issues and successfully lobbied President Trump to pardon Alice Marie Johnson, who was serving life without parole for drug offenses. The White House did not immediately reply to Fox News Digital's request for comment.
