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Photo: Ira L. Black/Corbis via Getty Images

A judge on Wednesday ordered Eric Trump to comply with a subpoena to testify before the presidential election in a New York probe into the Trump family business.

The state of play: New York Attorney General Letitia James (D) last month said her office had filed a lawsuit to compel the Trump Organization to comply with subpoenas related to an investigation into whether President Trump and his company improperly inflated the value of its assets on financial statements.

  • The investigation was launched after the president's former personal attorney Michael Cohen testified to Congress that Trump inflated and deflated his net worth at various times in order to obtain tax benefits and more favorable terms for loans.

Context: Lawyers for Eric Trump said the president's middle son had agreed to testify, but only after the election. They said his “extreme travel schedule” warranted the delay.

  • The New York attorney general's office argued that “Mr. Trump shouldn’t be able to profit from his own dilatory conduct here.”
  • A state judge on Wednesday said that he found Eric Trump's argument "unpersuasive."

What's next: Eric Trump must testify before Oct. 7, per the judge's order, which added that the probe and court are “bound by the timelines of the national election.”

The big picture: The attorney general's investigation is one of several probes that Trump and his company are facing as he seeks re-election in November, including a criminal inquiry led by the Manhattan district attorney.

Go deeper

Trump pardons Paul Manafort, Roger Stone and Charles Kushner

Stone and Manafort. Photos: Drew Angerer/Getty Images, Alexandria Sheriff's Office via Getty Images

President Trump granted full pardons to 26 more people on Wednesday night, including his former campaign chairman Paul Manafort, longtime associate Roger Stone and Charles Kushner, the father of Trump's senior adviser and son-in-law Jared Kushner.

Why it matters: It's a continuation of the president's controversial pre-Christmas pardon spree, which began in earnest Tuesday night with pardons for a trio of convicted former GOP congressmen and several military contractors involved in the 2007 massacre of Iraqi civilians.

Updated Apr 18, 2019 - Politics & Policy

What the Mueller report tells us about Trump and Russia

President Trump at the Helsinki summit with Vladimir Putin. Photo: Chris McGrath/Getty Images

The first part of special counsel Robert Mueller's redacted report addresses Russian interference in the 2016 election and any role the Trump campaign may have played in those efforts.

What to know: Mueller defines election interference as comprising of 2 sets of efforts: The social media disinformation campaign carried out by a Russian troll farm known as the Internet Research Agency, and the hacking and dissemination of Democratic emails by Russian intelligence officers. He narrowly defines "coordination" as an "agreement—tacit or express—between the Trump Campaign and the Russian government on election interference."

This post is breaking news and will be updated.

Felix Salmon, author of Capital
3 mins ago - Economy & Business

Inflation will rise. Don't panic

Illustration: Annelise Capossela/Axios

It's been 40 years since America last saw a damaging level of inflation. Yet despite that — or perhaps because of it — inflation fears are widespread, and could even become self-fulfilling.

Why it matters: The government's strategy for bringing back employment and widespread prosperity involves a necessary — yet temporary — increase in inflation. When an entire generation has never experienced such a thing, that can be disconcerting. And for the time being, Americans are not buying what the government is selling.