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      Delta Warns Trump’s Trade War Could Lead to a Recession

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      Delta Air Lines on Wednesday became one of the largest American companies to warn that President Trump’s escalating trade war was weighing on its business and the global economy.In an interview with CNBC on Wednesday, Delta’s chief executive, Ed Bastian, said a recession was possible as companies pulled back spending.“Everyone’s being prepared for uncertainty,” he said, “if that continues, and we don’t get resolution soon, we will probably end up in a recession.”Airlines are highly sensitive to changes in the economy because air travel is among the first things that individuals and businesses can cut back on when they are worried about their paychecks or profits.Mr. Bastian expressed shock at the speed at which the trade tensions had taken the wind out of the economy.“We’re in uncharted, unprecedented uncertainty, when you look at what’s happened and the pivot so quickly to this self-inflicted situation,” he said.Mr. Bastian’s comments are at odds with those of the Treasury secretary, Scott Bessent, who said on Wednesday that chief executives had told him the economy was solid.In its first-quarter earnings release, Delta said it no longer expected its business to grow in the second half of the year and added that a lack of the clarity about the economy prevented it from telling investors how much money it expects to make this year.Mr. Bastian said summer bookings were in line with last year. Some customs data show a sharp decline in foreigners entering the United States. Mr. Bastian said around 80 percent of Delta’s international bookings are made in the United States. “U.S. consumers are looking to go somewhere, particularly to try to get a reprieve from all the craziness we’re going through,” he said.Delta’s shares have fallen around 40 percent this year. More

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      Trump Administration Freezes $1 Billion for Cornell and $790 Million for Northwestern, Officials Say

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      The Trump administration has frozen more than $1 billion in funding for Cornell and $790 million for Northwestern amid civil rights investigations into both schools, two U.S. officials said.The funding pause involves mostly grants from and contracts with the Departments of Agriculture, Defense, Education and Health and Human Services, according to the officials, who spoke on the condition of anonymity to discuss the unannounced decision.The moves are the latest and largest in a rapidly escalating campaign against elite American universities that has resulted in roughly $3.3 billion in federal funds being suspended or put under review in just over a month. Other schools that have had funds threatened include Brown, Columbia, Harvard, the University of Pennsylvania and Princeton.Cornell and Northwestern are both facing investigations into allegations of antisemitism and into accusations of racial discrimination stemming from their efforts to promote diversity.Cornell officials said in a statement that they had received more than 75 stop-work orders from the Defense Department on Tuesday, but that they had no information to confirm that more than $1 billion in funding had been suspended. The affected grants, they said, supported research that they described as “profoundly significant to American defense, cybersecurity and health.”“We are actively seeking information from federal officials to learn more about the basis for these decisions,” according to the joint statement from Michael Kotlikoff, the university president; Kavita Bala, the provost; and Robert Harrington, provost for medical affairs.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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      Amid Tension Around H.H.S. Cuts, Kennedy Meets With Tribal Leader

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      At the very moment that Health Secretary Robert F. Kennedy Jr. was set to take the stage, the governor of Gila River Indian Community was still standing at the podium, articulating his uneasiness around recent Trump administration moves.“Let me repeat that: We have spent a good part of this year providing education on why tribes have a political status that is not D.E.I.,” Gov. Stephen Roe Lewis said to a room of 1,200 people, who clapped and cheered.When it comes to cuts sought by what has been called the Department of Government Efficiency, “we need a scalpel and not a chain saw approach to making these changes,” he said. The Gila River Wild Horse Pass Resort and Casino in Chandler, Ariz., owned and operated by two tribes, was the latest stop on Mr. Kennedy’s Make American Healthy Again tour through three Southwestern states. Mr. Kennedy was set to host a “fireside chat” at the Tribal Self-Governance Conference, an event celebrating 50 years of tribal sovereignty under the Indian Self-Determination and Education Assistance Act.The act, passed by Congress in 1975, marked a shift away from federal government control, so that Native communities could run their own programs based on their unique cultural needs.Mr. Kennedy has long expressed a particular zeal for improving tribal health, citing his family’s long history of advocacy, his childhood trips to American Indian reservations, and parts of his own environmental career.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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      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