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McConnell says "unlikely" Senate will upend Trump's tariffs

Senate Majority Leader Mitch McConnell, R-Ky. Photo: Tom Williams / CQ Roll Call

Senate Majority Leader Mitch McConnell said Tuesday that it is “highly unlikely” lawmakers in the Senate will approve legislation to rollback President Trump’s recent move imposing heightened tariffs on imported steel and aluminum.

“The thought that the president would sign a bill that would undo actions he’s taken strikes me as remote at best, and I like to use floor time in the Senate for things that actually have a chance to become law. So I think it’s highly unlikely we’d be dealing with that in a legislative way.”
— McConnell told reporters at his weekly news conference

He did, however, highlight that Republicans — who largely lambasted Trump's move — are still concerned about the tax implications and will continue engaging the White House with hopes that “in the end this will be a narrowed process rather than a broad application.”

The backdrop: Trump's announcement that the U.S. is imposing tariffs of 25% on steel and 10% on aluminum has triggered outcry among GOP lawmakers and industry officials. He later decided to exempt Canada and Mexico, for now. Sen. Jeff Flake (R-Ariz.), a retiring Trump critic, has introduced a bill seeking to nullify the tariffs.

Dan Primack 49 mins ago
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Why the stock markets are tanking

Stock market trader adjusts his glasses.
Photo by Xinhua/Wang Ying via Getty Images

Stock markets are down sharply on Thursday, with the Dow Jones Industrial Average off around 1.25% as of 2 p.m. EST.

Three key drivers: Tariffs, inter-bank lending rates and Facebook's troubles.

Caitlin Owens 2 hours ago
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How Congress missed yet another chance for an immigration deal

Congressional leaders with President Trump
Congressional leaders with President Trump. Photo: Olivier Douliery - Pool / Getty Images

Congressional leaders and the White House failed to come to an agreement on temporary protections for Dreamers over the past week as part of the giant spending bill, leaving the issue unresolved.

Why it matters: After all of the fighting over President Trump's decision to end DACA — including a government shutdown over it — the White House and Congress ended up with nothing. The issue is currently tied up in the courts. And though both sides agree it's better to give Dreamers more certainty over their future, they just can't agree how to do it.