BREAKING: House votes to rename the Gulf of Mexico in an attempt to codify Trump’s executive order
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U.S. stocks fell to their session low as Trump spoke in the Oval Office, describing the trade agreement with the United Kingdom.
The S&P was about flat, the Nasdaq was up only about 0.3%, and the Dow was higher by around 100 points.
British Prime Minister Keir Starmer praised the deal with the U.S., calling it “truly historic” and touting the two countries’ close alliance.
“We’ve always had a fair and balanced arrangement between our countries. This builds on that,” he said.
Starmer, who called into Trump’s news conference, also drew parallels to the deal being announced 80 years after the allied troops achieved victory in Europe during World War II.
Trump says the U.S. has reached a “historic agreement” with the United Kingdom on trade that will reduce nontariff barriers for U.S. exports.
Trump added that the agreement, which will be written up in the coming weeks, increases U.S. access to markets for selling beef and ethanol fuel.
Trump says the U.K. will fast-track goods through its customs processes as the U.S. receives new market access for machinery and chemicals.
Reporting from Washington
Senators are expressing concerns about an escalating standoff after a terrorist attack in the Indian-administered part of Kashmir last month, which prompted India to retaliate with strikes on the Pakistan-administered areas of Kashmir and Pakistan itself.
Sens. Elissa Slotkin, D-Mich., and Ted Cruz, R-Texas, both emphasized to NBC News the necessity for both countries to de-escalate, and senators from both parties pointed to India’s and Pakistan’s nuclear status as reason for concern.
Other senators took a more definitive position criticizing Pakistan.
Sen. Tim Sheehy, R-Mont., a veteran of the war in Afghanistan and member of the Armed Services Committee, called Pakistan a “known harbor of terrorist organizations,” pointing to Osama bin Laden’s compound and assassination in the country. Sheehy also said the escalation tensions between the two countries are “not our problem.”
Sen. Kevin Cramer, R-N.D., similarly said “our hands are full, the world is on fire, you know?” But Cramer clarified there would be nothing to gain with two nuclear powers getting involved in a potential war.
Upon hearing the first reports of the strikes, Trump called them “a shame” and said he hoped the fighting “ends very quickly.”
Two important House committees overseeing contentious policy issues are eyeing markups of their portions of the massive bill for Trump’s agenda Tuesday.
According to two sources familiar with the matter, the tax-writing Ways and Means Committee is planning to meet at 2 p.m. ET Tuesday to consider its part of the legislation, which will include an extension of the 2017 Trump tax cuts, as well as other politically difficult issues like the state and local tax deduction (SALT).
And the Energy and Commerce Committee, which oversees Medicaid and is tasked with finding $880 billion in savings, is planning to begin its markup Tuesday, though it’s unclear when it will finish, according to two lawmakers.
Neither committee has released its bill text yet, and depending on the status of negotiations, the timing could be fluid.
Former Rep. Jennifer Wexton, D-Va., has thrown her support behind Fairfax County Supervisor James Walkinshaw in the race to replace retiring Rep. Gerry Connolly in Virginia’s 11th district.
Connolly, who has esophageal cancer, announced last month that he would not seek re-election. He then endorsed Walkinshaw, his former chief of staff.
In a statement first obtained by NBC News, Wexton said Walkinshaw first encouraged her to run for Congress in 2018, when she flipped a Republican-held district. Wexton said she believes Walkinshaw is ready to take on the fight against Trump.
“Given Donald Trump’s and his minions’ relentless attacks on federal workers and our values of justice, equity, and fundamental fairness, we need a champion in Congress who can hit the ground running and fight back on Day One, and I can think of no one better able to do that than James. I enthusiastically endorse him,” Wexton said.
Wexton retired from Congress last year due to health issues. Wexton, who represented the neighboring 10th district in Virginia, has an aggressive form of Parkinson’s disease, which has limited her mobility and speech. She delivered the first House floor speech in history with the assistance of an artificial intelligence program that replicated the sound of her voice.
Walkinshaw is expected to be one of several Democrats to run for the deep-blue seat. State Sen. Stella Perkarsky also launched her campaign this week. No Republican has announced plans to run.
The full U.S. Circuit Court of Appeals for the District of Columbia ruled overnight that the Trump administration must return funds and staff to government-supported media outlets such as the Voice of America, Radio Free Asia and Radio Free Europe/Radio Liberty while litigation continues.
A three-judge panel of the court previously ruled any re-funding and re-staffing should be paused while legal appeals are underway; the full court’s overnight order reversed that previous decision.
Three judges who were appointed by Trump and one appointed by George H.W. Bush dissented from the full court’s ruling, with one of the Trump appointees calling the decision a “gambit” that “is an abuse of the court’s remedial discretion.”
Trump signed an executive order in March to try to gut the U.S.-funded media outlets.
Trump tiptoed away this week from the idea that he might try to win a third term, opening the door to a fresh round of intrigue: Who does he see as his successor?
In practically the same breath in an interview with NBC News’ “Meet the Press,” Trump suggested national security adviser and Secretary of State Marco Rubio and Vice President JD Vance — in that order — as potential candidates.
Read the full story.
Analysts at JPMorgan said the trade deal between the United States and the United Kingdom that Trump is announcing this morning would likely have a “limited” impact.
“It remains to be seen whether the UK can arrange an exemption from the baseline tariff following subsequent negotiations,” they wrote.
“If there is no further breakthrough on the US baseline tariff, that would significantly limit the economic upside from continued negotiations and further concessions,” the analysis said. “With the UK having broadly balanced goods trade with the US, a reasonably good political relationship, no real threat of retaliation from Westminster and extensive bilateral negotiations having taken place, it is not clear where the UK can go from here.”
The U.K. was the top buyer of U.S. services in recent years, but ranked fifth behind Canada, Mexico, China and Japan as a buyer of actual goods. While Britain is a key ally, the country does not even rank in the top five sources of imports for the U.S.
Trump will return to familiar ground in Saudi Arabia next week, choosing the kingdom as the destination for his first major foreign trip of his second term, just as he did in 2017 — once again bypassing the traditional allies who have usually hosted presidents.
The decision underscores a broader Trump White House strategy, prioritizing the Middle East’s economic and strategic influence over North America’s deep-rooted trade and security ties.
With an eye on blockbuster deals, a Nobel-worthy diplomatic breakthrough and the Middle East’s role as a geopolitical fulcrum, Trump is chasing defining moments in a region that he has treated as a diplomatic and economic cornerstone. Meanwhile, his unpredictable tariffs and diplomatic approach has cast a shadow over partnerships with Canada and Mexico.
Read the full story here.
Reporting from Washington
The Republican-led House is expected to vote today on legislation that would make Trump’s renaming of the Gulf of Mexico to the Gulf of America federal law.
The GOP bill, authored by Rep. Majorie Taylor Greene, follows an executive order signed by Trump in January that ordered Interior Secretary Doug Burgum to “take all appropriate actions to rename the Gulf” and update a database of the “official names for geographic features in the 50 states.”
While Trump does not need congressional approval to ensure the name change is reflected across the federal government, the bill would prevent a future president from easily reversing the move through executive action.
“As the previous administration made it painfully clear, executive orders can be undone and overwritten, and that’s why we have to move it through the legislative process — and we are,” House Speaker Mike Johnson, R-La., told reporters Tuesday. “We’re going to pass Marjorie Taylor Greene’s bill to permanently rename the Gulf of Mexico, the Gulf of America.”
Read the full story here.
Trump said this morning that he will sign a trade deal with Britain that will be America’s first since he announced sweeping global tariffs that hammered markets and threaten to upend the global economy.
In a post on Truth Social, the president wrote: “This should be a very big and exciting day for the United States of America and the United Kingdom. Press Conference at The Oval Office, 10A.M. Thank you!”
Read the full story.
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