Axios PM

November 11, 2025
Good Tuesday afternoon, and thank you to all who have served. Today's newsletter, edited by Sam Baker, is 609 words, a 2.5-min. read. Thanks to Kathie Bozanich for copy editing.
1 big thing: Left rages at Schumer

The left's rage at Senate Minority Leader Chuck Schumer keeps growing as the government moves closer to reopening, Axios' Andrew Solender reports.
- Progressive activists wanted a shutdown, and Schumer voted against the compromise to end the shutdown β but the left is furious with his overall strategy.
π¬ What they're saying: "Sen. Schumer has failed to meet this moment and is out of touch with the American people," Rep. Rashida Tlaib (D-Mich.) said in a post on X.
- "It is time for us to have somebody who can stand up to Trump and someone that is unwavering, somebody who is more strategic, and, frankly, somebody with guts," Rep. Shri Thanedar (D-Mich.) said in a phone interview.
- "If I were a senator, I would be asking Senator Schumer to step down as minority leader. [He] simply cannot meet this moment," Rep. Sylvia Garcia (D-Texas) said in a statement to Axios.
- Democratic advocacy groups Indivisible and MoveOn have also joined the chorus.
β‘οΈ The other side: House Democratic Leader Hakeem Jeffries (D-N.Y.) still has Schumer's back β and so do Senate Democrats. None of them has called on Schumer to step down.
2. π Trump's tariff math

President Trump today claimed the U.S. would be on the hook for $3 trillion in refunds and lost investments if the Supreme Court rules against his tariffs.
- Trump is trying to ramp up the pressure on the court to preserve the centerpiece of his economic and foreign policy.
- He's repeatedly said losing the case could "literally destroy" the country.
π "The U.S. Supreme Court was given the wrong numbers. The 'unwind' in the event of a negative decision on Tariffs, would be, including investments made, to be made, and return of funds, in excess of 3 Trillion Dollars," Trump posted on Truth Social this morning.
- "That would truly become an insurmountable National Security Event, and devastating to the future of our Country - Possibly non-sustainable!"
π° By the numbers: The U.S. collected $195 billion in tariffs during the fiscal year that ended in September.
- Separate trade agreements call for investments of about $1.5 billion in the U.S., but those aren't lump sums β they're pledges for future years.
π‘ Reality check: The court may not require refunds even if it rules against some or all of the tariffs. Neal Katyal, who argued against the fees before the Supreme Court, noted during oral arguments that the justices could limit their ruling to future payments if refunds are too big a mess.
3. πΊπΈ Honoring veterans

Witold Brick, a 102-year-old World War II veteran, participates in a wreath-laying ceremony at the World War II Memorial in Washington today.
- Below, people visit the Vietnam Veterans Memorial.

4. π 1 for the road: Louvre mini-mystery solved

"Fedora Man" β the well-dressed mystery man who became an internet sensation in the aftermath of the Louvre heist β is actually a 15-year-old with no connection to the robbery or the investigation.
- Pedro Elias Garzon Delvaux went viral, anonymously, when he was photographed standing near police officers investigating the heist.
- His outfit β vest, fedora, overcoat, even an umbrella leaning against his side β prompted speculation that he was some sort of special investigator. Isn't that what you'd expect the French detective assigned to a jewel heist to look like?
π«π· But no. He's actually just a teenager who lives outside Paris with his family. He was at the scene of the crime because the family had gone to visit the Louvre. And he was dressed that well simply because he dresses well.
- "I like to be chic," he told AP in his first interview. "I go to school like this."
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