Axios

A group of House Democrats is launching a concerted campaign to force Elon Musk out of the Trump administration by May 30, Axios has learned.

Why it matters: The effort is hinged on a legal requirement that special government employees — the designation given to Musk as he leads DOGE — not serve past 130 days.

Many Republicans in Congress were shell shocked Wednesday when President Trump abruptly announced that he was pausing his sweeping reciprocal tariffs for every country except China.

Why it matters: For some GOP lawmakers, the lack of notice from the administration was part of a disturbing pattern that has left them struggling to display the kind of loyalty the president demands of his party.

The more than 200 migrants sent to a maximum-security prison in El Salvador by U.S. immigration agents should stay there "for the rest of their lives," Homeland Security Secretary Kristi Noem said Wednesday.

Why it matters: Noem's remark reflects the Trump administration's harsh approach to noncitizens it views as criminals or gang members — in this case, arresting and deporting them to a foreign, maximum-security prison without giving them a court hearing.

After weeks of confusion and outcry, the Social Security Administration is backing off its announced drastic cuts to phone services.

Why it matters: The changes would've strained an already backlogged agency and possibly even kept eligible Americans from receiving benefits.

The White House will ignore reporters whose emails contain gender pronouns in the signature, a spokesperson confirmed to Axios on Wednesday.

The big picture: The move is a part of the Trump administration's pattern of trying to control the press — blocking AP reporters from the White House, taking over press pool coverage, removing outlets from their Pentagon workspaces and planning to take over the briefing room seating chart.

The past eight days have proven to be perhaps the highest-stakes study yet in how President Trump negotiates.

Why it matters: "Many of you in the media clearly missed the art of the deal," White House press secretary Karoline Leavitt said Wednesday, after the President announced a tariff pause.

Defense Secretary Pete Hegseth said the Panama Canal faces "ongoing threats" as he singled out China during a visit to the key trade route on Tuesday.

The big picture: Hegseth's comments following a meeting with Panama President José Raúl Mulino that the U.S. and Panamanian officials would "take back" the key trade route "from China's influence" built on previous warnings from Trump administration officials, and they drew a strong rebuke from Beijing.

Chuck Schumer (D-N.Y.) has a growing list of candidates who won't yet back him to be the next leader of Senate Democrats, Axios has learned.

Why it matters: Schumer has moved to quash any question about his position as Senate Democratic leader, but it's an issue that could split Democrats on the campaign trail.

Markets were ecstatic today after President Trump said he would pause some — but not all — of his sweeping tariffs.

• Trump offered a 90-day reprieve on the reciprocal tariffs he had imposed on dozens of countries.
• But he kept a baseline 10% tariff in place, and increased levies on Chinese goods to 125%.

💬 "People were jumping a little bit out of line," Trump told reporters as he explained his decision. "They were getting a little bit yippy. They were getting a little bit afraid."

The tariff reprieve is especially good news for Elon Musk, Axios' Nathan Bomey notes.

• Musk became increasingly public in his opposition to tariffs in recent days, ripping Trump trade adviser Peter Navarro as a "moron" and calling for "a zero-tariff situation" between Europe and North America.

💥 Tesla's stock went on a blistering rally immediately after Trump's announcement Wednesday, soaring 18% to nearly $262 per share in mid-afternoon trading.

• But tensions with China could still be a big problem for Tesla, and therefore for Musk.

1. 💧 Many Kentuckians still can't get safely back to their homes, after days of intense rain caused widespread flooding. Go deeper.
2. ⚖️ Federal judges blocked two specific deportations today — an indication that the legal dispute over Trump's authority is still an active one, despite a narrow Supreme Court order in the administration's favor. NYT (gift link)
3. 🇺🇦 Ukrainian President Volodymyr Zelensky said at least 155 Chinese nationals are fighting with the Russian military in Ukraine. White House national security spokesman Brian Hughes said the U.S. is still working to confirm that assertion, but if it's true, "this would be a concerning escalation and the U.S. will consider options moving forward." Go deeper.

North Carolina is the most valuable program in men's college basketball, despite a disappointing season this year, the Wall Street Journal reports.

• The estimates come from Ryan Brewer, a professor at Indiana University, Columbus, who tries to determine what each college program would be worth, if it could be sold like a pro team.

🎓 UNC clocked in at $378 million, followed by its eternal rival, Duke, at $370 million.

• UConn was the top women's program, with an estimated valuation of $95 million.

U.S. exports to China account for hundreds of billions of dollars and hundreds of thousands of jobs — but that's all now caught up in a fast-escalating trade war.

Why it matters: If sky-high tariff rates announced Wednesday remain in place, many U.S. companies will no longer be able to compete in China's market.

President Trump blew up global trade and rattled the economy with huge, hotly disputed tariffs on major trading partners. Exactly one week later, he said never mind.

Why it matters: The new question for top CEOs and Wall Street traders is which of Trump's "burn-it-all-down" economic policies actually stick.

Nearly 400 students and recent graduates have seen their visas revoked by immigration officials in the weeks surrounding the arrest of Columbia alumnus Mahmoud Khalil, igniting concerns about First Amendment and immigration rights.

The big picture: The Trump administration has claimed that some of those impacted lost their status because they were affiliated with pro-Palestinian protests. For some, revocation was attributed to a crime or traffic offense and for others the reason is unknown.

President Trump's decision to pause many of the sweeping tariffs he announced only a week ago comes after all corners of the MAGAverse soured on financial earthquakes the levies unleashed.

The big picture: The self-inflicted market meltdown rattled Trump's allies across Wall Street, Silicon Valley billionaires like Elon Musk, anxious congressional Republicans and even supportive podcasters in the Manosphere.

President Trump paused — on all countries but China — the sweeping reciprocal tariffs the U.S. had imposed this week.

Why it matters: Trump left a base tax of 10% in place across the world, in addition to duties on some industries, and has hinted that more are coming.

Stocks skyrocketed Wednesday afternoon after President Trump announced a pause on most tariffs.

Why it matters: The market had been on a stretcher since Trump announced reciprocal tariffs on nearly all foreign countries last week, bringing the S&P 500 to the brink of a 20% bear-market fall in a little over a month.

If markets learned one thing from the last week's White House tariff drama, it was that President Trump is still paying attention.

Why it matters: The "Trump put" that investors relied on in his first term — the notion that Trump would change policy if stocks or bonds had a bad reaction — looked like it might be dead in the second term. Until Wednesday.

The Trump administration's massive tariffs on China have Apple flying planes full of iPhones to the U.S. and consumers rushing to buy them before the prices potentially skyrocket.

Why it matters: The iPhone maker is one of many large companies caught up in an escalating trade war between the world's two biggest economies. Most iPhones are assembled in China, and more than half of iPhone sales are in the U.S.

President Trump paused the sweeping reciprocal tariffs the U.S. imposed this week, saying dozens of countries had reached out to negotiate new trade deals.

Why it matters: It's the relief global markets, U.S. allies and many Trump advisers wanted, as fears of a global crisis mounted. But Trump didn't back off fully, keeping 10% baseline tariffs in place while increasing tariffs on China to 125%.

China retaliated against President Trump's tariffs on Wednesday with a new 84% levy on exports from the U.S., threatening American jobs and industry that rely on the crucial trade partner.

Why it matters: There's very little modern precedent for one of the largest importers of U.S. goods throwing up such a giant barrier. The full scope of the consequences for the economy are not yet clear.

JPMorgan Chase CEO Jamie Dimon on Wednesday said he expects a recession as President Trump's tariffs roil global financial markets.

Why it matters: Dimon's comments come amid a historic plunge in the bond market, part of what some strategists are calling a "sell America" trade.

Driving the news: Trump made good on his promise to charge reciprocal tariffs on about 60 countries on Wednesday, on top of the baseline 10% tariffs the U.S. started collecting last Saturday.

House Speaker Mike Johnson (R-La.) is angling to use a key budget vote to crush Democrats' plan to force a vote on blocking President Trump's across-the-board tariffs.

Why it matters: The move could invite opposition from a cohort of free trade-minded GOP lawmakers who are increasingly uneasy with the White House's trade policies and the resulting stock market turmoil.

The trade war is likely to cause fewer jobs and higher prices, a top Federal Reserve official tells Axios. But price hikes may not show up until the summer, as companies work through pre-tariff inventories.

Why it matters: Richmond Fed president Tom Barkin, in an exclusive interview, described a deep-seated uncertainty among businesses that is likely to slow activity — along with a surge in prices that requires the Fed to act cautiously in responding.

China and the European Union retaliated on Wednesday against President Trump's tariffs with new levies on more than $150 billion of U.S. exports.

Why it matters: The levies are the latest escalation stemming from Trump's trade war, which is deepening even as the U.S. says it's open to negotiations.

The Trump administration has halted more than $1 billion in federal funding for Cornell University and around $790 million for Northwestern University amid civil rights investigations, multiple outlets reported.

The big picture: Trump's squeeze on colleges and universities has hit institutions and their research capabilities through broad cuts and targeted threats over allegations of antisemitism and what the administration claims are civil rights violations under diversity, equity and inclusion efforts.

Former Rep. Wiley Nickel (D-N.C.) is launching his bid for U.S. Senate on Wednesday morning, the ex-congressman told Axios.

Why it matters: It could set up a contested Democratic primary ahead of what is expected to be one of the most hard-fought Senate elections in 2026.

Treasury Secretary Scott Bessent said on Wednesday that the economy was on steady footing, and played down the panic on display in financial markets as a result of the escalating global trade war.

Why it matters: The comments come hours after President Trump's reciprocal tariffs took effect, further unnerving investors worried that the economy might take a hit.

The price of U.S. Treasury bonds is plunging, in what Treasury Secretary Scott Bessent on Wednesday called "deleveraging convulsions." The effect is to raise borrowing costs just as recession fears spike.

Why it matters: The last thing America needed amid a global trade war and a stock market meltdown was a debt crisis, too. But that now seems to be a real possibility.

The conventional wisdom about U.S. coal's grim prognosis is a tad murkier after President Trump threw unprecedented government weight behind the fuel.

Why it matters: His plan will test whether forces long battering coal — cheap gas, pollution regs, renewables' rise and more — can be undone by rising power demand and federal intervention.

The Internal Revenue Service's acting commissioner — its third leader this year — is resigning after reaching a controversial agreement to release immigrants' tax data to Immigration and Customs Enforcement (ICE), multiple outlets reported.

Why it matters: The leadership change adds to the cascading chaos at the agency amid its busiest season. It was already facing public backlash over DOGE seeking access to sensitive taxpayer data.

President Trump has done more unprecedented, lasting things in 80 days than many presidents do in a four-year term.

Why it matters: There are 1,382 days to go in this term.

Nearly half of all U.S. counties will experience economic losses of at least $250,000 as a result of the Trump administration's planned cuts to indirect funding by the National Institutes of Health, per the Science & Community Impacts Mapping Project.

Why it matters: Much of the discourse around the cuts has focused on the impact to states or individual universities. But this data compiled from a consortium of universities shows just how widespread the effects of the cuts would be at the local level, researchers tell Axios.

Even before President Trump's announcement that he plans a "major tariff" on pharmaceuticals, the sector was getting hammered in the markets — and not just over concerns about higher costs.

Why it matters: Investors are also responding to broader uncertainty about the Food and Drug Administration and how the industry will be regulated, experts tell Axios.

More than 20 bills focused on menopause care have been introduced across at least 13 states so far this year.

Why it matters: Menopause education isn't just having a moment. Changes that could permanently reshape insurance coverage and health care resources are being set in motion.

President Trump's global tariffs mean clothes at U.S. retailers stand to get a lot more expensive.

The big picture: With the U.S. importing nearly all of its clothing and shoes — more than half from China, Vietnam and Bangladesh alone — soaring apparel prices could send shoppers thrifting.

Distracted driving is a pervasive problem on American roadways, and more states are cracking down.

Why it matters: Around 3,300 people died nationwide in crashes attributed to distracted driving in 2022, while another 289,000 were injured, according to the latest available National Highway Traffic Safety Administration (NHTSA) data.

A pair of House Democrats is introducing a bill that would force DOGE to open its books to Congress and provide insight into its firings and other changes to federal agencies, Axios has learned.

Why it matters: The bill is likely a long shot in the Republican-controlled Congress, but it is the latest demonstration of how Democrats are trying to put their efforts to counter DOGE on display for voters.

Backstabbing was rampant in President Trump's first White House. In Trump 2.0, it's front-stabbing:

• Trump's trade adviser, Peter Navarro, slights Elon Musk's car company on TV. Musk, a senior adviser to Trump, then calls Navarro a "moron" on social media.
• At the White House, staffers shrug and chuckle. "Boys will be boys," Press Secretary Karoline Leavitt says.

President Trump's sweeping attempt to reorder the global economy went into effect early Wednesday, with historic tariffs on dozens of countries.

Why it matters: Trump says it'll revitalize the U.S. economy and bringing about a fairer global order. Economists and executives say it'll fracture global alliances and lead to a painful recession.

At least a dozen House Republicans are considering signing onto Rep. Don Bacon's (R-Neb.) bill to restrict the White House's ability to impose tariffs unilaterally, Axios has learned.

Why it matters: It's a significant break with President Trump, who has threatened to veto the bill should it pass Congress.

Meta whistleblower Sarah Wynn-Williams is set to testify before the Senate Judiciary Subcommittee on Crime and Counterterrorism on Wednesday.

The big picture: The former global public policy director at Facebook, now Meta, will allege that Facebook cooperated with China's ruling Communist Party, per her opening testimony, as seen by Axios.

President Trump on Tuesday ripped into Republican members of Congress who are trying to give Congress the ability to block him from unilaterally instituting tariffs.

Why it matters: The president's remarks during a speech to the National Republican Congressional Committee laid bare divisions within the GOP over the administration's hardline protectionist trade policies.

It's hard to think of a Senate duo further apart on President Trump's sweeping tariffs than Indiana Republican Sens. Todd Young and Jim Banks.

Why it matters: The divergent views from the state's two senators cast the broader divide in the GOP in sharp relief— the old guard free-traders vs. the party's new populist isolationists.

The Trump administration, which already closed a trade loophole that allowed cheap goods from China to avoid tariffs, is now tripling the planned levy.

Why it matters: Packages valued at less than $800 have enjoyed the "de minimis" exemption from added duties, which has enabled foreign online retailers like Temu and Shein to sell super-cheap items to American consumers.