First Pass

24 stories from 10 sources

Trump’s power push meets courts, markets, and war costs

Day’s Recap

Supporting Articles

The administration put new tariffs into effect, including 25% duties on Brazilian imports and threats of 50% tariffs on Canadian goods. A lawsuit was filed within hours, with trade and legal experts arguing key elements may exceed presidential authority or fail under existing trade law tests.

10:23 AMCNBC

The Trump administration acknowledged it canceled $7.6 billion in clean energy projects because the grants went to states identified with Democratic voting patterns, including 16 states that supported Kamala Harris in 2024. The admission frames the cancellations as driven by state political identity rather than project merits or performance criteria.

10:54 AMFortune

The administration is asking Congress for tens of billions in emergency supplemental funding tied to the Iran war. The request lands after repeated claims from Trump and allies that the conflict is already effectively won.

7:43 AMNPR Politics

A federal appeals court declined to lift an injunction that blocks Trump from implementing an order affecting mail-in voting. Democratic-led states that sued to stop the order keep their court-ordered protections in place for now.

4:19 PMCNBC

A basket of stocks tied to expectations of a Trump-friendly policy mix has fallen sharply since May after outperforming early in the year. Ned Davis Research’s Trump Trade Index is down about 16% over that period.

4:40 PMFortune

Donald Trump delivered a combative, insult-heavy speech at the correspondents’ dinner and criticized his own speechwriters during the remarks. He referenced a previously planned speech that was postponed after a shooting disrupted the original event.

11:23 AMFortune

Other Developments

A curated list of other prominent stories from this day.

Progressive-aligned Democrats have recently notched a series of election and policy wins, building momentum inside the party. The next stress test is Michigan, where winning statewide power depends on persuading working-class and swing voters who have drifted away from Democrats in recent cycles.

11:58 PMBBC

Joe Biden will not appeal a court ruling that lets the Justice Department release recordings of his conversations with a writer working on his memoir. The decision clears the way for the tapes to become public.

3:36 PMNPR Politics

Lawmakers are considering an additional $11 billion farm bailout despite an existing pipeline of roughly $55 billion in support. Critics argue the extra spending is unnecessary and worsens the debt outlook while concentrating benefits in agriculture.

1:18 PMMarketWatch

Katy Perry condemned the White House for using her song “Firework” in a TikTok video that pairs the track with footage of military strikes and the caption “Iran has been warned.” She said she does not condone the use of her music to score images of violence.

12:13 PMVariety

Maine Democrats are selecting a new nominee to challenge Sen. Susan Collins in a race they view as their best pickup opportunity. The party is betting Maine's competitiveness and Trump’s 2024 loss there create a favorable map.

12:06 PMCNBC

Trump ordered warning signage at the National Museum of American History to counter what the White House described as politically activist and inaccurate presentation. The move seeks to reframe or contest how the Smithsonian presents parts of U.S. history.

9:38 AMNew York Times Arts

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