Trump Action Archive

Supporting reports

• Trump administration eased oil sanctions to benefit Russia during Iran War — The Trump administration eased sanctions on Russian oil, allowing millions of barrels sitting on ships to go to India, with the financial benefit flowing to Russia as it wages war in Ukraine. Ambassador to the UN Mike Waltz acknowledged the policy but framed it as "common sense," while Energy Secretary Chris Wright stated the U.S. is "temporarily suspending some sanctions on Russia to make Russian oil available."
• Trump administration temporarily lifted sanctions on Russian oil shipments — The Trump administration temporarily lifted sanctions on Russian oil shipments in an effort to stabilize oil markets and reduce economic fallout from the Iran war. The move allows Russia to sell approximately 128 million barrels of oil previously loaded onto tankers facing U.S. restrictions. Brent crude futures closed above $100 per barrel for the first time since 2022. Experts estimate Russia has already received approximately $150 million per day from increased oil sales since the U.S. attacked Iran two weeks prior, with Moscow earning an estimated $1.9 billion windfall in taxes on oil exports.
• Trump administration lifted sanctions on Russian oil shipments — Late on March 13, the Trump administration lifted sanctions on Russian oil shipments, permitting sales to buyers worldwide until April 11. Treasury Secretary Scott Bessent cited the need to ease skyrocketing oil prices caused by Iran's closure of the Strait of Hormuz. The move contradicts G7 consensus; German Chancellor Friedrich Merz stated G7 heads had urged Trump not to ease sanctions, noting there was a price problem but not a supply problem, and questioned the U.S. government's additional motives.

Supporting reports

• Trump grants clemency to dozens convicted of fraud, including billionaires and political allies — President Trump has pardoned or commuted sentences for dozens of people convicted of white-collar crimes, particularly fraud offenses. Notable recipients include former Puerto Rico governor Wanda Vázquez Garced (campaign finance violation), Venezuelan businessman Julio Herrera Velutini (wire fraud, whose daughter donated $2.5m to pro-Trump PAC), and others convicted of money laundering, bank fraud, and wire fraud. An analysis by House Democrats found Trump's pardons have deprived victims of $1.3bn in restitution and fines. The pardons occur as Trump simultaneously accuses Democratic-run states of fraud and has attempted to cut federal funding to those states.
• No civil rights investigation initiated by DOJ into fatal shooting of Alex Pretti — Despite the fatal shooting of Alex Pretti by federal agents during immigration enforcement in Minneapolis, the U.S. Justice Department has not initiated a civil rights investigation, a departure from recent standard practice in federal officer-involved shootings. Trump stated he was awaiting results of an internal DHS investigation, which is conducted by the parent agency of the agents involved, raising questions about independent oversight and accountability.

Supporting reports

• Trump administration pursues equity stake in Intel via Chips Act conversion — Commerce Secretary Howard Lutnick announced on Tuesday that the Trump administration is pursuing conversion of Chips and Science Act funding into equity ownership in Intel. The administration seeks non-voting equity in the semiconductor manufacturer, framing the move as ensuring taxpayer return on investment rather than a grant. Treasury Secretary Scott Bessent clarified that the stake would not obligate US businesses to purchase Intel chips. The announcement followed days of circulating reports and preceded SoftBank's $2 billion investment in the company.

Supporting reports

• Trump administration in talks with Intel for government stake — Bloomberg reported that the Trump administration is in talks with Intel Corp. to give the federal government a stake in the tech company. The move follows a meeting between Trump and Intel CEO Lip-Bu Tan, whom the president said was "highly conflicted" and should resign on Truth Social last week.
• Trump administration pursues equity stake in Intel via Chips Act conversion — Commerce Secretary Howard Lutnick announced on Tuesday that the Trump administration is pursuing conversion of Chips and Science Act funding into equity ownership in Intel. The administration seeks non-voting equity in the semiconductor manufacturer, framing the move as ensuring taxpayer return on investment rather than a grant. Treasury Secretary Scott Bessent clarified that the stake would not obligate US businesses to purchase Intel chips. The announcement followed days of circulating reports and preceded SoftBank's $2 billion investment in the company.

Supporting reports

• Trump institutes 10% universal tariff on all imported goods — On April 5, 2025, President Trump declared "liberation day" and instituted a 10% universal tariff on all imported goods, followed on April 9 by "reciprocal tariffs" including 34% on Chinese imports and 20% on EU goods. The tariffs sparked a global market collapse, with the Dow Jones falling over 2,000 points in two days. Economists warned of recession and inflation risk. Trump announced a 90-day pause on reciprocal tariffs hours after they took effect, except for China, where he increased tariffs to 125%.
• Stock futures plunged again as Trump doubled down on tariffs — U.S. stock futures plunged on the evening of April 6, with Dow Jones Industrial Average futures down 1,250 points (3.3%), S&P 500 futures down 3.7%, and Nasdaq futures down 4.6%. Despite the market decline, Trump posted on social media that tariffs are "a beautiful thing to behold" and that "Some day people will realize that Tariffs, for the United States of America, are a very beautiful thing!"
• Stock market declines sharply; Dow futures down 1,500 points — Following two difficult trading days, stock market futures indicated a significant decline heading into the week, with Dow futures down approximately 1,500 points. The markets had lost more than $6 trillion in value over the preceding days. Treasury Secretary Scott Bessent dismissed concerns about the market volatility, stating that Americans should not worry about day-to-day fluctuations and that "everything is working very smoothly." White House Trade Advisor Peter Navarro predicted the market would reach 50,000 on the Dow by the end of Trump's term.
• Trump administration imposes tariffs on uninhabited islands and multiple countries — The Trump administration imposed a 10% tariff on the Heard and McDonald Islands, which have zero human inhabitants and are populated only by penguins. Agriculture Secretary Brooke Rollins defended the tariffs when questioned by CNN's Jake Tapper, claiming the administration was "serious, intentional, and patriotic." The administration also imposed tariffs on Ukraine, Vietnam, Madagascar, and numerous other countries. Commerce Secretary Howard Lutnick defended the broad tariff list, stating that leaving any country off would allow products to be routed through those nations to the U.S.
• Trump and Defense Secretary Pete Hegseth proposed a $1 trillion defense budget — In an Oval Office press conference, Trump and Defense Secretary Pete Hegseth promised a defense budget of $1 trillion, a significant increase from the current $892 billion defense budget. Trump justified the increase by stating the need to be "strong because you've got a lot of bad forces out there now."
• Trump announces $1 trillion military budget for fiscal year 2026 — On April 7, President Trump announced plans to propose a $1 trillion military budget for fiscal year 2026, representing a $107 billion increase from current spending. Trump stated during a meeting with Israeli Prime Minister Benjamin Netanyahu that the increase was necessary to strengthen U.S. military capacity. This reverses Trump's February position that military spending of nearly $1 trillion was excessive and should be reduced through arms-control negotiations with China and Russia. Secretary of Defense Pete Hegseth endorsed the proposal.
• Trump maintains broad tariff regime despite business pressure and market losses — President Trump has implemented a 10% across-the-board tariff with higher rates (up to 50%) targeting approximately 60 countries, causing a $6 trillion decline in U.S. stock values and significant losses in Asian and European markets. Despite pressure from business leaders including billionaire Bill Ackman and foreign leaders, Trump rejected calls for a 90-day negotiation pause, stating countries would need to pay "a lot of money on a yearly basis" for tariff reconsideration. Trump characterized the tariffs as necessary "medicine" for economic issues.
• Trump Administration Announces Tariffs Impacting Stock Market — On April 2, 2025, President Donald Trump announced tariffs that resulted in a $5 trillion loss in the stock market, prompting criticism from Wall Street leaders and concern among farmers. The announcement led to widespread protests across the country, reflecting growing discontent with the administration's economic policies. Administration officials attempted to reassure the public, but their statements appeared contradictory and out of touch with the economic crisis.
• Trump announced additional 50% tariffs on China effective Wednesday unless China drops retaliatory tariffs — President Trump posted on his social media network that he will impose additional 50% tariffs on China effective Wednesday unless China drops the retaliatory tariffs it has placed on U.S. products. China responded by stating it would "fight to the end." The announcement came as markets experienced extreme volatility, with the CBOE Volatility Index spiking to 60, and foreign markets, including Hong Kong's Hang Seng, suffered significant losses.
• Goldman Sachs raised recession probability to 45% — Goldman Sachs raised its probability assessment of a recession occurring to 45%, citing concerns about the tariff policies announced by the Trump administration and their potential inflationary and growth-dampening effects.
• Trump administration implements sweeping tariffs on major trading partners — President Trump rolled out tariffs on most key U.S. trading partners, triggering a historic stock market crash. The S&P 500 fell 15% in three trading sessions, erasing more than $5 trillion in American wealth. Stock futures on Sunday evening pointed to further declines on Monday. The White House remained defiant despite the market rout. Investors initially expected tariffs to be temporary, but the administration's stance suggests they will persist, raising the prospect of deeper economic damage ahead.
• Trump threatened 50% additional tariff on China — On Truth Social, Trump threatened to impose an additional 50% tariff on China, beginning Wednesday, after the country added 34% to tariffs on US imports.
• European Commission announced 25% countertariffs in retaliation for Trump's tariffs — The European Commission announced 25% countertariffs in retaliation for Trump's tariffs on European goods. This represents a formal retaliatory response to the U.S. tariff escalation and signals the beginning of a broader trade conflict with major trading partners.
• EU announced reciprocal tariffs on US goods — Reuters reported that the European Union will impose reciprocal tariffs of 25% on US goods effective May 16, 2025, in response to Trump administration tariff policies.
• Trump issued ultimatum to China on tariffs with April 8 deadline — Trump posted on Truth Social that if China does not withdraw its 34% tariff increase above long-term trading abuses by April 8, 2025, the US will impose an additional 50% tariff on China effective April 9, 2025. Trump also stated that all talks with China concerning their requested meetings will be terminated and that negotiations with other countries will begin immediately.
• Trump threatened Iran — Trump threatened Iran, saying if the country doesn't agree to a deal with the US, it will be in "great danger."
• Trump announces additional tariffs on China — President Trump declared he would impose an additional 50% tariff on China, effective Wednesday, unless China drops its retaliatory tariffs on U.S. products. This announcement further escalates the ongoing trade war between the two nations.
• Trump discusses historical tariff policy in press conference — During a press conference, President Trump discussed his rationale for initiating a global tariff war, citing a misinterpretation of historical economic policies and expressing a desire to eliminate income taxes. His comments reflect a broader ideological stance on taxation and trade.
• Trump threatens additional tariffs on China — President Trump announced plans to impose an additional 50% tariff on China unless it drops its retaliatory tariffs on U.S. products. This escalation in the trade war reflects Trump's commitment to his tariff strategy despite international backlash.
• Trump issues Executive Order 14259 raising tariffs on Chinese imports to 84% in response to PRC retaliation — President Trump signed Executive Order 14259 on April 8, 2025, amending reciprocal tariffs on low-value imports from China. The order raises duties from 34% to 84% under Harmonized Tariff Schedule heading 9903.01.63, effective April 9, 2025, in response to China's announced 34% retaliatory tariff on U.S. goods. The order also increases de minimis duties on postal items from $25–$50 to $75–$150. Implementation is directed to Commerce, Homeland Security, and the U.S. Trade Representative.
• Trump issues executive order amending reciprocal tariffs on Chinese low-value imports — President Trump signed an executive order on April 8, 2025, amending reciprocal tariffs and duties on low-value imports from China in response to China's announced 34% retaliatory tariff on U.S. goods. The order increased tariffs on Chinese goods from 34% to 84% under Harmonized Tariff Schedule heading 9903.01.63, and raised de minimis duties on low-value Chinese imports from 30% to 90% ad valorem, effective April 9, 2025. The action invoked the International Emergency Economic Powers Act and National Emergencies Act.
• Trump signed Executive Order 14259 escalating tariffs on Chinese imports to 84% in response to announced Chinese retaliation — President Trump signed Executive Order 14259 on April 8, 2025, amending reciprocal tariff schedules against the People's Republic of China. The order escalates duties from 34% to 84% on specified Chinese imports, effective April 9, 2025, in response to China's announced 34% retaliatory tariff on U.S. goods (effective April 10, 2025). The order also increases de minimis duties on low-value Chinese imports from 30% to 90% ad valorem and raises per-item postal duties from $25–$50 to $75–$150. The order directs Commerce, Homeland Security, and the U.S. Trade Representative to implement these changes.
• European Commission announces countertariffs — The European Commission announced a 25% countertariff in retaliation for Trump's tariffs, indicating escalating trade tensions between the U.S. and Europe. This response highlights the international ramifications of U.S. trade policy.
• Canada announces retaliatory tariffs on U.S. vehicles — Canadian Prime Minister Mark Carney announced that Canada will impose 25% tariffs on all non-CUSMA-compliant vehicles from the U.S. and 25% tariffs on the contents of CUSMA-compliant vehicles that are not from Canada or Mexico, effective at 12:01 EDT. Carney stated that "Trump caused this trade crisis" and that Canada is responding "with purpose and with force."
• China blocks TikTok sale in retaliation for tariffs — Bloomberg reported that China intervened at the last minute to halt the sale of U.S. TikTok operations by Chinese social media group ByteDance to a consortium of American investors. China announced it will block any sale while the new tariffs remain in effect, using the transaction as leverage in the trade dispute.
• China's Ministry of Commerce rejects U.S. tariff escalation and threatens retaliation — China's Ministry of Commerce responded to the U.S. tariff announcement by characterizing the escalation as "a mistake on top of a mistake" and warning that if the U.S. persists, "China will fight to the end." The statement signaled China's intent to continue retaliatory measures in the trade conflict.
• Trump announces 90-day pause on reciprocal tariffs — Hours after reciprocal tariffs took effect on April 9, 2025, Trump announced a 90-day pause on them, with the exception of China, where he increased tariffs to 125%. White House press secretary Karoline Leavitt characterized the move as part of Trump's negotiating strategy, referencing "The Art of the Deal." The pause came after stock markets had fallen sharply and amid widespread economic warnings.
• Trump announced 10% tariff on all imports effective April 9 — On April 2, President Trump announced "Liberation Day" tariffs to take effect at 12:01 a.m. on April 9, imposing a 10% tariff on all imports to the United States with significantly higher rates on countries he claimed engaged in unfair trade practices. Trump's trade team, led by Peter Navarro, derived tariff rates using a formula that divided the U.S. trade deficit by the country's export value and cut the result in half—a methodology economists characterized as nonsensical.
• Trump announced 104% tariffs on China effective April 9, 2025 — President Donald J. Trump announced he was proceeding with 104% tariffs on China, effective at 12:01 am on Wednesday, April 9. U.S. Trade Representative Jamieson Greer stated there would be no exemptions for individual products or companies. The announcement followed Treasury Secretary Scott Bessent's earlier suggestion that the administration was open to tariff negotiations. Stock markets fell sharply in response: the Dow Jones Industrial Average dropped 320 points (0.8%) to a 52-week low, the S&P 500 fell 1.6%, and the Nasdaq Composite fell 2.2%.
• Trump announces 104% tariffs on China — President Donald J. Trump announced that he would implement 104% tariffs on China, effective at 12:01 am on Wednesday. This decision follows a period of negotiations and discussions among business leaders and advisors, including U.S. Trade Representative Jamieson Greer, who stated there would be no exemptions for individual products or companies. The announcement led to a significant drop in stock markets, with the Dow Jones Industrial Average falling by 320 points.
• Trump imposed 145% tariffs on China and 10% global tariffs, then partially reversed course after bond market volatility. — President Trump announced new tariff rates including 145% on China (combining a 125% reciprocal rate with a 20% fentanyl tariff) and 10% on all other countries. After initial market gains, the Dow fell 1,014 points (2.50%) as traders realized the scope of the tariffs. Trump later claimed to lift most tariffs after leaders of 75 countries allegedly requested deals, but the White House refused to release the list of countries. Financial analysts attributed the reversal to bond market pressure, with 10-year Treasury yields spiking overnight. Tesla stock fell 7.27% due to exposure to Chinese markets and supply chains.
• Trump administration applied tariffs to approximately 90 countries including uninhabited islands — The Trump administration created a tariff schedule covering approximately 90 countries, including some uninhabited islands, as part of its broad tariff policy. The scope of the tariff application raised questions about the feasibility of negotiating bilateral trade deals with all affected nations.
• Trump issues executive order modifying reciprocal tariff rates in response to Chinese retaliation — President Trump signed an executive order on April 9, 2025, modifying reciprocal tariff rates following China's announced 84% retaliatory tariff on U.S. goods. The order increases tariffs on Chinese imports from 84% to 125%, suspends country-specific tariff rates for 75 other trading partners for 90 days and replaces them with a uniform 10% duty, and raises de minimis tariff rates on low-value Chinese imports. The action responds to China's retaliation against prior tariff orders while offering temporary relief to other trading partners willing to negotiate.
• Trump signed Executive Order 14266 modifying reciprocal tariff rates in response to trading partner retaliation — President Trump signed Executive Order 14266 on April 9, 2025, modifying reciprocal tariff rates established under prior orders. The order raises tariffs on Chinese imports from 84% to 125% in response to China's announced 84% retaliatory tariff on U.S. goods. Simultaneously, it suspends country-specific tariff rates for 75 other trading partners for 90 days, replacing them with a uniform 10% additional duty, citing those partners' willingness to address trade reciprocity concerns. The order also increases duties on synthetic opioid-related imports from China.
• Trump Announces Tariff Pause Amid Market Turmoil — President Donald Trump announced a temporary pause on certain tariffs following significant unrest in the bond markets. The decision came after financial markets reacted negatively to the unpredictability of U.S. trade policy, which included fluctuating tariffs and public disagreements among Trump's advisers. Despite the pause, baseline tariffs of 10% and 25% on automotive imports remain, and the tariff on Chinese imports has been increased to at least 145%. The pause is set for 90 days, with uncertainty about future trade deals with numerous countries.
• Trump imposes reciprocal and fentanyl-linked tariffs on Chinese imports, raising total burden to 145% — President Trump imposed "reciprocal" tariffs of 125% on goods imported from China, with an additional 20% fentanyl-linked border tax announced on Thursday, bringing the total tariff burden to 145%. The combined tariffs apply to all US imports from China, including Apple's iPhone components. Analysts warn this will significantly increase consumer prices, with some projecting iPhone prices could rise by 79% or more, and that moving production to the US would be prohibitively expensive and impractical given the lack of domestic manufacturing capacity and skilled labor.
• Trump maintains 145% tariffs on Chinese imports despite global pause — While Trump paused his "reciprocal" tariffs on dozens of other countries on April 10, he explicitly excluded China from the 90-day suspension and instead continued escalating duties on Chinese imports to 145%. This represents a deliberate intensification of the trade conflict with the world's second-largest economy, contradicting the broader tariff pause and fueling recession fears. The White House confirmed the 145% rate on Chinese goods.
• China raises retaliatory tariffs on US goods to 125% — China's commerce ministry announced on Friday, April 11, that it was raising tariffs on all US imports from 84% to 125%, escalating the trade dispute with Washington. The move came hours after Xi Jinping stated there were "no winners in a tariff war." China indicated this may be its final unilateral tariff increase, suggesting future countermeasures would take other forms. The announcement cited lack of market acceptance for US goods at current tariff levels.
• Xi Jinping invites EU to resist US "bullying" on tariffs — During a meeting with Spain's Prime Minister Pedro Sánchez in Beijing on April 11, Xi Jinping invited the EU to work with China to jointly resist what he characterized as unilateral US "bullying" through tariffs. Xi stated there would be "no winners in a tariff war" and that "going against the world will isolate oneself." The Chinese leader called for maintaining economic globalization and the international trade environment while safeguarding international rules and order.
• China imposed 125% retaliatory tariffs on U.S. goods — On Friday, April 11, China imposed 125% tariffs on goods from the United States in response to Trump's tariff increases. A Chinese Finance Ministry spokesperson stated that Trump's tariff actions "will become a joke in the history of the world economy," signaling diplomatic and economic escalation.
• China characterizes U.S. tariffs as bullying and coercion — China's Commerce Ministry issued a statement declaring that U.S. tariffs have reached a level where they no longer have economic significance and are being used by Trump as a "tool of bullying and coercion" that has made the U.S. a "joke." The statement was made during Xi's meeting with the Spanish Prime Minister.
• China imposes reciprocal tariffs and refuses further engagement — In response to Trump administration tariffs, China's Ministry of Finance announced reciprocal tariffs matching U.S. duties and declared it will ignore further U.S. tariff escalations, stating that U.S. exports to China are no longer commercially viable at current tariff levels. China refused to initiate a leader-level phone call despite two months of White House pressure for Xi to call Trump first.
• French Prime Minister Macron warns of tariff fragility and uncertainty — French Prime Minister Macron issued a statement characterizing the temporary 90-day suspension of U.S. tariffs as "fragile," noting that 25% duties on steel, aluminum, and automobiles, plus 10% tariffs on other products, remain in place and amount to €52 billion in duties on the European Union. Macron stated that 90 days of pause means 90 days of uncertainty for businesses and called for negotiation to remove tariffs and reach a balanced agreement without asymmetry.
• Trump administration officials attempt to pressure China into initiating contact — CNN reported that White House officials have been attempting behind the scenes to pressure China into making the first move by calling Trump, with the administration conveying to Beijing for roughly two months that Xi should request a call. Beijing repeatedly refused to arrange a leader-level phone call, leaving Trump waiting without direct diplomatic contact.

Supporting reports

• Trump announces $1 trillion military budget for fiscal year 2026 — On April 7, President Trump announced plans to propose a $1 trillion military budget for fiscal year 2026, representing a $107 billion increase from current spending. Trump stated during a meeting with Israeli Prime Minister Benjamin Netanyahu that the increase was necessary to strengthen U.S. military capacity. This reverses Trump's February position that military spending of nearly $1 trillion was excessive and should be reduced through arms-control negotiations with China and Russia. Secretary of Defense Pete Hegseth endorsed the proposal.
• White House warned Trump would veto tariff approval bill — The White House warned that Trump would veto a bill that would require approval from Congress to impose new tariffs.
• CNBC reported false rumor of Trump tariff pause, causing market volatility — CNBC reported a false rumor that Trump would announce a 90-day pause on tariffs after Fox host Brian Kilmeade asked White House Economic Advisor Kevin Hassett if Trump would consider such a pause. The rumor caused stock markets to rally sharply mid-morning. When the White House denied the report as "fake news," markets declined again. The false report originated from Hassett's non-committal response that "the president is gonna decide what the president is gonna decide."
• White House denied tariff pause report as fake news — The White House social media account responded to the CNBC report of a tariff pause by stating "Wrong. Fake News. Not only did Director Hassett not say this, POTUS has been clear - 'it all has to change, but especially with CHINA!!!'" The denial clarified that Trump has not agreed to any tariff pause.
• Peter Navarro stated tariffs are not a negotiation but a national emergency response — White House trade advisor Peter Navarro told Fox News that the tariffs represent "a national emergency based on a trade deficit that's gotten out of control because of cheating," explicitly rejecting the characterization of tariffs as a negotiating tactic. This statement contradicted other administration messaging suggesting tariffs were leverage for trade negotiations.
• Trump posted on Truth Social that his policies will never change — President Trump posted on Truth Social stating "MY POLICIES WILL NEVER CHANGE," signaling that tariff policy would not be reversed despite market turmoil and economic concerns. This statement contradicted earlier messaging that tariffs were negotiating tactics.
• White House issued fact sheet stating tariffs remain in effect until trade deficit threat is resolved — The White House released a fact sheet claiming that tariffs would remain in effect "until such a time as President Trump determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated." This statement indicated tariffs were not temporary negotiating tools but permanent policy subject only to Trump's subjective determination.
• Trump announces 90-day pause on reciprocal tariffs — Hours after reciprocal tariffs took effect on April 9, 2025, Trump announced a 90-day pause on them, with the exception of China, where he increased tariffs to 125%. White House press secretary Karoline Leavitt characterized the move as part of Trump's negotiating strategy, referencing "The Art of the Deal." The pause came after stock markets had fallen sharply and amid widespread economic warnings.
• Trump announces 90-day tariff pause with modified rates, triggering market volatility and insider-trading allegations — On Wednesday, April 9, Trump announced a 90-day pause on his tariff plan, replacing his original broad tariffs with a 10% blanket rate on most countries through July, while raising China tariffs to 145% effective immediately. The announcement triggered a historic market rally Wednesday afternoon, followed by sharp sell-offs Thursday as economists warned the effective tariff rate was worse than worst-case scenarios. Democrats alleged possible insider trading and market manipulation; Republicans praised the move as strategic negotiation.
• Trump reversed course on tariffs with 90-day pause — After tanking the stock market, Trump reversed course on his "Liberation Day" tariffs. He announced a 90-day pause on a steep hike in tariffs on most countries, except for China, which he said would now face duties of 125%.
• Senators and representatives questioned insider trading related to tariff announcements. — Multiple members of Congress raised concerns about potential insider trading in the hours before Trump's tariff announcement. Senator Adam Schiff stated he would investigate whether Trump and associates tipped off friends to profit from market movements. Senator Bernie Sanders expressed skepticism that people with advance knowledge of the tariff reversal did not profit. Representative Alexandria Ocasio-Cortez called for disclosure of stock purchases made in the prior 48 hours and urged a ban on congressional insider trading. Senator Chris Murphy characterized the situation as "an insider trading scandal brewing."
• Trump's approval rating fell to 41% in new Quinnipiac poll. — A new Quinnipiac poll showed President Trump's approval rating at 41% with 53% disapproval. CNN analyst Harry Enten noted that only two presidents have had net negative approval ratings at this point in their term: Donald Trump in his first term and Donald Trump in his second term.
• White House refused to release list of 75 countries allegedly requesting tariff deals. — President Trump claimed that leaders of 75 countries had called "kissing my ass" to request trade deals, prompting him to lift most tariffs. When NBC News requested the list of these 75 countries, the White House refused to release it. The refusal raised questions about the veracity of Trump's claim and the basis for the tariff reversal.
• 30-year mortgage rates surge to 7.1% — The average mortgage rate on 30-year fixed-rate mortgages surged 1.3 basis points to 7.1% on this date. Matthew Graham, COO of Mortgage News Daily, characterized the week as the worst for bond markets in terms of 10-year yield jumps for anyone whose career began after 1981, indicating severe market volatility tied to administration policy.