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      Trump Officials Point to Outreach on Tariffs in a Bid to Calm Markets

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      President Trump’s top trade official defended the administration’s aggressive tariff moves on Tuesday, arguing before a Senate committee that the U.S. economy is facing “a moment of drastic, overdue change” after decades of being propped up by the financial sector and government spending.The remarks by Jamieson Greer, the United States trade representative, came as the Trump administration faced blowback from trading partners, businesses and investors over Mr. Trump’s approach. The president’s moves this month to impose a 10 percent global tariff and steep “reciprocal” tariffs on dozens of countries have already triggered a trade war with China and caused other countries to draw up their own retaliation plans. Economists now consider a recession increasingly likely.Mr. Trump has dismissed those concerns and said he will not back away from his trade agenda, which he says is necessary to return manufacturing and industrial production to the United States. He and his economic advisers have claimed that countries are clamoring to make new trade agreements with the United States and to lower their tariffs and other trade barriers.In a social media post on Tuesday, Mr. Trump described a call with South Korea’s acting president, Han Duck-soo, about trade and tariffs and that South Korean officials were heading to the United States for talks. He also expressed optimism that a trade war with China could be averted.“China also wants to make a deal, badly, but they don’t know how to get it started,” Mr. Trump wrote. “We are waiting for their call. It will happen!”Mr. Greer said in his prepared remarks that nearly 50 countries have approached him to discuss how to “achieve reciprocity on trade.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Chris Sununu Skips a New Hampshire Senate Bid, Dashing Trump’s Hopes

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      The former New Hampshire governor had been seen as a top Republican recruit in the liberal-leaning yet competitive state. President Trump had said on Sunday, “I hope he runs.”Chris Sununu, the Republican former governor of New Hampshire, announced on Tuesday that he would not run for Senate in 2026, dashing the hopes of President Trump and others in their party that he would help flip a seat in the state after a Democratic senator’s retirement.Mr. Sununu, who served for four two-year terms as governor, was once a vocal critic of Mr. Trump’s — he endorsed Nikki Haley in the 2024 primary race — but the president had warmed to the possibility of luring the popular former governor into the Senate race.“I hope he runs,” Mr. Trump said on Air Force One on Sunday, noting that he had met recently with Mr. Sununu in the Oval Office. “He’s been very nice to me over the last year or so.”Senator Jeanne Shaheen, a Democrat, announced her retirement last month. Representative Chris Pappas of New Hampshire, a Democrat, recently began a bid to succeed her. The other House member from the state, Representative Maggie Goodlander, has said she is also considering a run.Mr. Sununu, who has flirted with Senate campaigns for years but never actually declared a candidacy, officially pulled himself out of contention on Tuesday.”No, I’m not going to run,” he said in a radio interview on The Pulse of NH, saying it was not right for his family.He said that Republicans could still win, and that he had on Tuesday informed Senator Tim Scott of South Carolina, the chairman of the National Republican Senatorial Committee, of his decision. “It doesn’t have to be me,” Mr. Sununu said.A spokeswoman for the Democratic Senatorial Campaign Committee, Maeve Coyle, called it “ an embarrassing recruitment failure.”Another potential Republican candidate is Scott Brown, a former senator from Massachusetts, whom Ms. Shaheen needled after she announced her exit, telling Semafor: “He’s making noises. He’s not from New Hampshire.”The New Hampshire seat is one of three vacancies that Democrats must defend in 2026, along with Michigan and Minnesota. No Republican senators in competitive states have yet to announce retirements. More

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      Case in Texas Could Shed More Light on Invocation of Alien Enemies Act

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      Immigration lawyers are reacting to the Supreme Court’s ruling, which declared that any legal challenges to the Trump administration’s plan to use a wartime statute to deport a group of Venezuelan migrants have to be filed where the men are being held.And as they scrambled to adjust on Tuesday, their efforts could be guided by a similar case that is underway in Federal District Court in Brownsville, Texas. It was filed last month by Daniel Zacarias Matos, a Venezuelan migrant who claimed that the administration tried to deport him — without a hearing or an order of removal — under President Trump’s recent proclamation invoking the wartime law, the Alien Enemies Act.In mid-March, Judge Fernando Rodriguez Jr., who is handling the case, issued an order stopping Mr. Zacarias Matos from being deported until he could look deeper into the matter. His lawyers and lawyers for the Justice Department are expected to file dueling court papers this month laying out the details of what happened.While the facts in Mr. Zacarias Matos’s case do not line up exactly with those in the cases of the Venezuelan migrants directly affected by the Supreme Court’s ruling, they could shed light on some of those proceedings as they start to move forward, most likely one by one.According to court papers, Mr. Zacarias Matos came to the United States with his 8-year-old daughter in December 2023, seeking asylum from Venezuela. Federal immigration agents took him into custody in October at the El Paso County Jail after he was arrested on charges of violating the terms of his probation on two, now-dismissed misdemeanor charges, court papers show.Early last month, the papers say, Mr. Zacarias Matos was sent to the El Valle Detention Center in Raymondville, Texas, where the administration was holding scores of Venezuelan migrants they were planning to deport to a prison in El Salvador under the expansive powers of the Alien Enemies Act.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Glenn Youngkin on D.E.I., Trump’s Tariffs and a Possible 2028 Run

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      In an interview, the Republican governor of Virginia spoke at length about his views on diversity efforts, among other subjects.Five years ago, Glenn Youngkin was a co-chief executive at a major private equity firm, where he repeatedly made the case that diversity and inclusion were good for business.Now, he is the Republican governor of Virginia, a term-limited conservative who criticizes diversity, equity and inclusion programs and is seen as a potential future candidate for president.On Sunday, he spoke by phone about his thinking on diversity, President Trump’s tariffs and whether he might be interested in running for president in 2028.Here are excerpts from the interview, edited and condensed.When you began as co-chief executive at Carlyle, you were asked by Bloomberg Markets about whether there was a need for more racial and gender diversity. And you said addressing that challenge would be one of your key priorities. Do you still believe that racial and gender diversity are important?When you are building a world-class talent pool, you have to make sure that you are looking everywhere for it. And in order to do that, you will embrace a diverse work force that is inclusive.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Glenn Youngkin, an Anti-D.E.I. Governor, Once Championed Diversity

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      Not long before he became Virginia’s governor, Mr. Youngkin helped lead, and spoke approvingly of, efforts to improve racial and gender diversity at his private equity firm.Before Glenn Youngkin was a culture warrior who cheered the demise of diversity, equity and inclusion programs, he was a financial executive who worried about a lack of diversity in his field.“One of the clear challenges in the financial sector broadly is both race and gender diversity,” Mr. Youngkin said in a 2018 interview with Bloomberg Markets, soon after becoming a co-chief executive at the Carlyle Group, a private equity firm.His company, he noted approvingly, had worked for years to address disparities in representation.“The second we stepped into this role, we emphasized that this approach was not only going to continue,” he added, “but it was going to be one of our key priorities.”Seven years later, Mr. Youngkin is the Republican governor of Virginia, an ambitious conservative who harnessed concerns about classroom instruction on race into political power, and who has energetically embraced President Trump’s hostility to D.E.I. initiatives.“D.E.I. is dead in Virginia,” he declared recently.In tone and emphasis, his transformation has been striking, and more drastic than commonly understood, according to interviews with half a dozen people who worked with Mr. Youngkin during his time leading Carlyle, as well as a review of company statements, official filings and other documentation from that time.But in many ways, the evolution of Mr. Youngkin — who some Republicans hope will run for president — reflects the ever more chameleonic nature of his party at the dawn of a second Trump era.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      China Accuses U.S. of Blackmail After Trump Threatens More Tariffs

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      The country’s commerce ministry called President Trump’s threat to escalate tariffs on China by another 50 percent “blackmail.”China lashed out at the United States on Tuesday after President Trump demanded that Beijing rescind its retaliatory tariffs or face an additional 50 percent U.S. levy, calling his threat “blackmail,” as tensions between the two major powers rose.The Ministry of Commerce, without referring to the American president by name, said that Beijing had noted that the United States had threatened to impose a further 50 percent tariff on China. It said that Beijing would take countermeasures to safeguard its interests.“The U.S. threat to escalate tariffs on China is a mistake on top of a mistake, which once again exposes the blackmail nature of the United States,” the ministry’s statement said. “China will never accept it. If the United States insists on its own way, China will fight to the end.”China had announced last week that it would match Mr. Trump’s tariffs by imposing a retaliatory 34 percent tax on imports from America. The latest escalation that Mr. Trump described on Monday, if imposed, could bring the U.S. tariff on Chinese goods to 104 percent. For some products, though, the rate is likely to be much higher because of levies that date back to Mr. Trump’s first term. Mr. Trump also threatened to halt any further negotiations.American consumers last year bought $440 billion of goods from China, making it the second-largest source of U.S. imports after Mexico. Taken together, it could prove costly for American importers bringing in clothing, cellphones, chemicals and machinery from China.China said that the United States should cancel all unilateral tariffs against China, “stop suppressing China’s economy and trade, and properly resolve differences with China through equal dialogue on the basis of mutual respect.”China has been trying for months to engage in high-level talks with the Trump administration to try to lay the ground for a potential summit between Mr. Trump and China’s top leader, Xi Jinping. But despite Mr. Trump saying earlier this year that he was open to engaging with Mr. Xi, Beijing has struggled to receive much of a response from the White House.Berry Wang More

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      Read the Supreme Court’s Ruling on Venezuelan Migrants

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      Cite as: 604 U. S.
      (2025)
      9
      SOTOMAYOR, J., dissenting
      whether its March 15 deportations complied with the Dis-
      trict Court’s orders, it simultaneously sought permission to
      resume summary deportations under the Proclamation.
      The District Court, first, denied the Government’s motion
      to vacate its temporary restraining order, rejecting the as-
      sertion that “the President’s authority and discretion under
      the [Alien Enemies Act] is not a proper subject for judicial
      scrutiny.” App. to BIO 71a. At the very least, the District
      Court concluded, the plaintiffs were “likely to succeed” on
      their claim that, “before they may be deported, they are en-
      titled to individualized hearings to determine whether the
      Act applies to them at all.” 2025 WL 890401, *2. The D. C.
      Circuit, too, denied the Government a requested stay and
      kept in place the District Court’s pause on deportations un-
      der the Alien Enemies Act pending further proceedings.
      2025 WL 914682, *1 (per curiam) (Mar. 26, 2025).
      It is only this Court that sees reason to vacate, for the
      second time this week, a temporary restraining order
      standing “on its last legs.” Department of Education, 604
      U. S., at (JACKSON, J., dissenting) (slip op., at 1). Not
      content to wait until tomorrow, when the District Court will
      have a chance to consider full preliminary injunction brief-
      ing at a scheduled hearing, this Court intervenes to relieve
      the Government of its obligation under the order.
      II
      Begin with that upon which all nine Members of this
      Court agree. The Court’s order today dictates, in no uncer-
      tain terms, that “individual[s] subject to detention and re-
      moval under the [Alien Enemies Act are] entitled to judicial
      review’ as to ‘questions of interpretation and constitution-
      ality’ of the Act as well as whether he or she ‘is in fact an
      alien enemy fourteen years of age or older.”” Ante, at 2
      (quoting Ludecke v. Watkins, 335 U. S. 160, 163–164, 172,
      n. 17 (1948)). Therefore, under today’s order, courts below More

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      Why Did Wall Street Get Trump So Wrong?

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      Donald Trump’s 2024 election sent many finance types into spasms of anticipatory ecstasy as they imagined freedom from regulations, taxes and unfamiliar pronouns. “Bankers and financiers say Trump’s victory has emboldened those who chafed at ‘woke doctrine’ and felt they had to self-censor or change their language to avoid offending younger colleagues, women, minorities or disabled people,” The Financial Times reported a few days before Trump’s inauguration. It quoted one leading banker crowing — anonymously — about finally being able to use slurs like “retard” again. The vibes had shifted; the animal spirits were loose.“We’re stepping into the most pro-growth, pro-business, pro-American administration I’ve perhaps seen in my adult lifetime,” gushed the hedge fund manager Bill Ackman in December.One Wall Street veteran, however, understood the risk an unleashed Trump posed to the economy. After Trump’s victory in November, Peter Berezin, chief global strategist at BCA Research, which provides macroeconomic research to major financial institutions, estimated that the chance of a recession had climbed to 75 percent. “The prospect of an escalation of the trade war is likely to depress corporate investment while lowering real household disposable income,” said a BCA report.The surprising thing isn’t that Berezin saw the Trump tariff crisis coming, but that so many of his peers didn’t. You don’t have to be a sophisticated financial professional, after all, to understand that Trump believes, firmly and ardently, in taxing imports, and he thinks any country that sells more goods to America than it buys must be ripping us off. All you had to do was read the news or listen to Trump’s own words. Yet Berezin was an outlier; most of the people who make a living off their financial acumen had less understanding of Trump’s priorities than a casual viewer of MSNBC.On Monday, as stocks whipsawed on shifting news and rumors about the tariffs, I spoke to Berezin, who is based in Montreal, about how Wall Street had gotten Trump so wrong. He told me that many investors who pride themselves on their savvy are in fact just creatures of the herd. “All these cognitive biases that amateur retail investors are subject to, the Wall Street pros, are, if anything, even more subject to them because they’ve got career risk associated with bucking the trend,” he said.People in finance, said Berezin, are more likely to be punished for being too cautious and pessimistic than for being too hopeful and aggressive. Last year, for instance, a famed strategist named Marko Kolanovic left JPMorgan Chase abruptly when his gloomy predictions about 2023 and 2024 turned out to be wrong, or least premature. Mike Wilson, also known for his bearishness, stepped down from his post as chair of Morgan Stanley’s Global Investment Committee, though he stayed with the company. “You don’t get fired for being bullish, but you do get fired for being bearish on Wall Street,” said Berezin.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More