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5 days ago | 
nytimes.com | Matthew Cullen
President Trump removed the acting head of the Internal Revenue Service, Gary Shapley, after less than a week on the job. The change was prompted by a power struggle between Treasury Secretary Scott Bessent and Elon Musk. Bessent, who oversees the tax agency, had complained that Musk had persuaded the White House to appoint Shapley without his knowledge. Bessent's deputy, Michael Faulkender, will replace Shapley, who had only been selected for the job on Tuesday.
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6 days ago | 
nytimes.com | Matthew Cullen
Google could be forced to significantly restructure its operations after a federal judge in Virginia ruled today that the company had illegally maintained a monopoly over lucrative technology that delivers online ads. The Justice Department and several states had sued Google, arguing that the search giant had used its size and influence to lock out competitors and charge higher prices.
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1 week ago | 
nytimes.com | Matthew Cullen
In an Oval Office meeting today with President Trump, El Salvador's leader said that he would not return a man who was wrongly deported from the U.S. and sent to a notorious prison in El Salvador. "Of course I'm not going to do it," the Salvadoran president, Nayib Bukele, said. He compared returning the migrant, Kilmar Armando Abrego Garcia, to smuggling "a terrorist into the United States." Trump smiled in approval.
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1 week ago | 
nytimes.com | Matthew Cullen
The exuberance that spread yesterday across Wall Street after President Trump dialed down his expansive tariffs did not last long. The U.S. stock market fell sharply today, with the S&P 500 down 3.5 percent. The mood shift highlighted the worries that many investors and economists still have about Trump's tariff policies. The White House clarified today that imports of Chinese goods now face a 145 percent fee - 20 percent larger than it was understood last night.
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2 weeks ago | 
nytimes.com | Matthew Cullen
Just hours after President Trump imposed steep tariffs on dozens of America's trading partners, he reversed course. The president announced this afternoon that nearly all of his so-called reciprocal tariffs would be paused for 90 days. The stock market reacted with glee, rebounding after a week of sharp declines. The S&P 500 ended the day up 9.5 percent, its largest daily increase since 2008.
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2 weeks ago | 
nytimes.com | Matthew Cullen
Just hours from now, at midnight, President Trump is set to impose steep new tariffs on many of America's biggest trading partners. The fee on imports from China, for example, will rise from 30 percent to at least 104 percent. America's top trade official defended the levies today as "a moment of drastic, overdue change."At least 70 governments have already approached the U.S. to discuss rolling back the tariffs, and the administration signaled today that it was ready to negotiate.
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2 weeks ago | 
nytimes.com | Matthew Cullen
The fiddle will be used in the night's final performance of "Auld Lang Syne," by the Scottish poet Robert Burns. The instrument once belonged to the dance master William Gregg, who taught him. "Just to be able to hear it gives you a connection to Robert Burns," said the violinist Duncan Chisholm, who will play it. Have a resounding weekend. Thanks for reading. I'll be back on Monday. - Matthew Kirsten Luce was our photo editor today. We welcome your feedback. Write to us at [email protected].
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2 weeks ago | 
nytimes.com | Matthew Cullen
President Trump had the world's attention yesterday when he unveiled his plan to rewire the global economic order by imposing expansive tariffs on nearly all of America's trading partners. Today, the world responded. The S&P 500 suffered its worst day since 2020, falling 4.8 percent. Some tech stocks like Apple and Amazon fell further. Markets in Asia and Europe pulled back. Business groups, trade experts, Democratic lawmakers and even a few Republicans denounced the tariffs.
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3 weeks ago | 
nytimes.com | Matthew Cullen
President Trump announced this afternoon that he would impose new tariffs of at least 10 percent on all goods imported into the U.S. from every country other than Canada and Mexico. He also promised steep additional levies on dozens of countries that he claimed had been unfairly taking advantage of America. Here's the latest. Together, the new tariffs are by far Trump's most expansive to date.
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3 weeks ago | 
nytimes.com | Matthew Cullen
In Wisconsin and Florida, voters went to the polls today for elections that will offer the best evidence yet of whether President Trump maintains robust support. In Florida, two Republicans are expected to win special elections for deep-red House seats. But Democrats have been able to feed on their voters' fury to make at least one of the races closer than expected. We're tracking each party's turnout in the state, and you can see the results here as they come in.
