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Senate Majority Leader Mitch McConnell speaks to the media on June 4. Photo: Mark Wilson/Getty Images

A few days after President Trump announced that tariffs against Mexican goods were "indefinitely suspended," Senate Majority Leader Mitch McConnell (R-Ky.) has backed off his previous tariff criticism.

What he's saying: "I think the cold, hard reality is, even though almost none of my members were enthusiastic about the prospect of tariffs, you have to give the president credit — it worked," he said, Politico reports.

Flashback: Last week, McConnell told administration officials that Trump "should hold off on imposing tariffs on Mexico until he can personally make his argument to Republicans in Congress," per Bloomberg.

  • One person in the room at a Senate Republican lunch told Bloomberg there was frustration that "the president doesn't understand how tariffs work and that they will hurt American consumers and businesses."
  • "There is not much support in my conference for tariffs, that's for sure," McConnell said last week.

Go deeper: Business "freak out" spurs plans to tame Trump on trade

Go deeper

Wall Street braces for more turbulence ahead of Election Day

Illustration: Eniola Odetunde/Axios

Wall Street is digging in for a potentially rocky period as Election Day gets closer.

Why it matters: Investors are facing a "three-headed monster," Brian Belski, chief investment strategist at BMO Capital Markets, tells Axios — a worsening pandemic, an economic stimulus package in limbo, and an imminent election.

Dave Lawler, author of World
4 hours ago - World

How Biden might tackle the Iran deal

Photo illustration: Aïda Amer/Axios. Photo: Drew Angerer/Getty Images

Four more years of President Trump would almost certainly kill the Iran nuclear deal — but the election of Joe Biden wouldn’t necessarily save it.

The big picture: Rescuing the 2015 Joint Comprehensive Plan of Action (JCPOA) is near the top of Biden's foreign policy priority list. He says he'd re-enter the deal once Iran returns to compliance, and use it as the basis on which to negotiate a broader and longer-lasting deal with Iran.

Kamala Harris, the new left's insider

Photo illustration: Eniola Odetunde/Axios. Photo: Joe Buglewicz/Getty Images     

Progressive leaders see Sen. Kamala Harris, if she's elected vice president, as their conduit to a post-Biden Democratic Party where the power will be in younger, more diverse and more liberal hands.

  • Why it matters: The party's rising left sees Harris as the best hope for penetrating Joe Biden's older, largely white inner circle.

If Biden wins, Harris will become the first woman, first Black American and first Indian American to serve as a U.S. vice president — and would instantly be seen as the first in line for the presidency should Biden decide against seeking a second term.

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