Today in one sentence: Trump scaled back tariffs on Chinese imports after being warned that his trade policies were hurting “Trump’s people"; Trump still plans to accept a $400 million luxury jet from Qatar, even though converting the 13-year-old aircraft into Air Force One could cost U.S. taxpayers more than $1 billion and may not be completed before he leaves office in 2029; Trump claimed Saudi Arabia pledged $600 billion in investment during his Middle East trip, but the White House released details for only $283 billion; a Chinese tech company with no revenue and just eight employees plans to buy up to $300 million of Trump’s $TRUMP memecoin; Rep. Shri Thanedar forced a House vote on impeaching Trump, filing seven articles that accuse him of corruption, abuse of power, and unconstitutional conduct; 59% of Americans pessimistic about the state of politics in the U.S.; and 40% approve of Americans Trump’s job performance, while 56% disapprove.

1/ Trump scaled back tariffs on Chinese imports after being warned that his trade policies were hurting “Trump’s people.” White House aides warned that the 145% duties imposed in April were hurting truckers, longshoremen, and manufacturers. Polling also showed Trump underwater on the economy for the first time, and business leaders warned of price hikes, canceled orders, and job losses. “The key argument was that this was beginning to hurt Trump’s supporters,” one official said. As a result, Trump agreed to a deal cutting tariffs to 30%, while China lowered its own to 10%. The pact delivered no major wins beyond a pledge to keep talking, but gave Trump political cover to back down. (Washington Post / New York Times)

2/ Trump still plans to accept a $400 million luxury jet from Qatar, even though converting the 13-year-old aircraft into Air Force One could cost U.S. taxpayers more than $1 billion and may not be completed before he leaves office in 2029. The plane would need to be dismantled, stripped of potential surveillance equipment, and rebuilt with classified communications and defense systems. “Every square centimeter of that plane would have to be reviewed,” Sen. Thom Tillis said. Trump, however, called it a “gift” and said rejecting it would be “stupid,” despite having condemned similar foreign donations in 2016 as corrupt. “Qatar—these are people that push gays off buildings,” Trump said then, attacking the Clinton Foundation for accepting funds from Middle Eastern countries. The Constitution bars federal officials from accepting foreign gifts without congressional approval, but House Speaker Mike Johnson defended the move, saying the jet was “a gift to the United States.” Meanwhile, Qatar Airways struck a $96 billion deal to buy 210 Boeing jets, the largest widebody order in the company’s history. (NBC News / Washington Post / Wall Street Journal / Politico / HuffPost / New York Times / CNN / CNBC / Bloomberg / Bloomberg)

3/ Trump claimed Saudi Arabia pledged $600 billion in investment during his Middle East trip, but the White House released details for only $283 billion. Many deals were vague, lacked timelines, or had been previously announced. The biggest was a $142 billion defense package – nearly double Saudi Arabia’s 2025 military budget – with no delivery schedule. Other deals included U.S. companies like Google, Oracle, and Uber committing billions to Saudi tech projects. At the same time, Trump’s sons promoted new Trump Tower developments in Dubai and Jeddah, and pitched their crypto firm’s stablecoin to Gulf investors. (CNBC / Axios / Associated Press / New York Times / Bloomberg / CNN)

4/ A Chinese tech company with no revenue and just eight employees plans to buy up to $300 million of Trump’s $TRUMP memecoin. GD Culture Group said in an SEC filing that it will fund the purchase through a stock deal with an unnamed investor based in the British Virgin Islands. The company sells products on TikTok and noted in March that “the Chinese government may intervene or influence its operations at any time.” Trump launched the $TRUMP coin three days before taking office. The coin financially benefits Trump by generating revenue through Trump-affiliated entities, though the exact structure and arrangements haven’t been disclosed. Ethics experts say the setup allows foreign money to flow into a venture tied directly to a sitting president. (New York Times / Wall Street Journal)

  • House Speaker Mike Johnson supports banning members of Congress from trading individual stocks. “I don’t think we should have any appearance of impropriety,” Johnson said, while also expressing “sympathy” for members struggling to manage on a $174,000 salary. He said some lawmakers feel they “at least” need to trade stocks to “take care of their family.” Johnson, who does not trade stocks himself, said he believes the system has been “abused in the past” and that “a few bad actors discolor it for everyone.” (Politico / Business Insider / The Hill)

5/ Rep. Shri Thanedar forced a House vote on impeaching Trump, filing seven articles that accuse him of corruption, abuse of power, and unconstitutional conduct. Thanedar introduced the resolution without caucus support, days after drawing a second primary challenger. House Democrats called the move reckless and self-serving with Jerry Nadler saying “This is idiotic.” Several lawmakers said Thanedar falsely implied leadership backed the measure and listed colleagues as co-sponsors without their consent. Party leaders moved to kill the resolution, calling it a distraction from Republican spending cuts. “Our focus is on health care being stripped away,” Rep. Pete Aguilar said. Nevertheless, Thanedar refused to back down, saying, “I took an oath […] so did Mr. Trump. He has violated his oath.” (Axios / Associated Press / Axios)

poll/ 59% of Americans pessimistic about the state of politics in the U.S. – down from 66% last July. 55% of Republicans are optimistic about their party’s future – up from 47% last year – while 35% of Democrats felt the same – down from 57%. (AP-NORC)

poll/ 31% of Americans believe the Trump administration is handling the ongoing measles outbreak responsibly, while 40% disagreed, and the rest were unsure. The U.S. is currently facing its largest single outbreak of measles in 25 years. (USA Today)

poll/ 40% approve of Americans Trump’s job performance, while 56% disapprove, including 42% who strongly disapprove. Trump is also underwater on inflation (31% approve, 63% disapprove), the economy (38% approve, 55% disapprove), trade (36% approve, 57% disapprove), health care (36% approve, 52% disapprove), and immigration (47% approve, 49% disapprove). Border security (52% approve, 42% disapprove) is the only issue has a positive net approval rating. (Strength in Numbers)

The midterm elections are in 538 days.

✏️ Notables.

  1. The Trump administration killed a proposed rule that would have forced data brokers to get Americans’ consent before selling their Social Security numbers, financial histories, and other personal data. Acting CFPB director Russell Vought formally withdrew the rule without a press release or public statement, citing a shift in “interpretation” of the Fair Credit Reporting Act. The decision followed a letter from the Financial Technology Association, a fintech lobbying group, that called the rule “harmful to financial institutions.” (WIRED / TechCrunch / Bloomberg)

  2. Elon Musk’s Department of Government Efficiency deleted $122 million in claimed savings after federal agencies revived dozens of contracts. DOGE removed 31 canceled-but-reinstated contracts from its “Wall of Receipts,” including one worth $108 million that the Department of Veterans Affairs reinstated just eight days after scrapping it. The group, however, left 12 other revived contracts on the site while still claiming $121 million in savings. DOGE continues to claim $170 billion in total savings even though at least $243 million of that comes from cuts that no longer exist. (New York Times)

  3. A federal grand jury indicted Milwaukee County Judge Hannah Dugan for helping an undocumented immigrant escape arrest from immigration agents outside her courtroom. Prosecutors said Dugan directed Eduardo Flores-Ruiz through a private exit after confronting the agents and telling them they needed a different warrant. “Judge Dugan then escorted Flores-Ruiz and his counsel out of the courtroom through the ‘jury door,’” the FBI said. Agents chased and arrested Flores-Ruiz outside the courthouse. The Wisconsin Supreme Court suspended Dugan, calling it “in the public interest.” Her lawyers called the arrest “unnecessary” and said she “asserts her innocence.” The Trump administration, meanwhile, said the case sends a message: “If you break the law, we will prosecute you.” (Milwaukee Journal Sentinel / New York Times / CNN / Axios)

  4. The Trump administration made a deal to allow 17 relatives of Sinaloa cartel leader Ovidio Guzmán López enter the U.S. Footage showed the group crossing the border near Tijuana with suitcases, escorted by U.S. agents. None of the family members face charges in Mexico. Guzmán López, son of El Chapo, is expected to plead guilty after giving up information on rival traffickers. Mexico’s top security official, Omar García Harfuch, said that “It is evident that his family is going to the U.S. because of a negotiation or an offer that the Department of Justice is giving him.” Trump, who once claimed Mexico was sending criminals and “rapists,” has not explained why cartel relatives received safe passage. (Associated Press / New York Times / New Republic)

  5. California Gov. Gavin Newsom proposed freezing new Medi-Cal enrollment for undocumented adults and charging existing enrollees $100 per month. The changes would start in 2026 and 2027, respectively, and are expected to save California $5.4 billion by 2029. Newsom framed the rollback as a fiscal necessity: “We’re just capping it.” His office, meanwhile, blamed the move on a $12 billion budget deficit and a $16 billion drop in state revenue tied to Trump-era tariffs. The Medi-Cal expansion cost $2.7 billion more than expected last year. (CalMatters / Los Angeles Times / Politico / NBC News / New York Times)

  6. 20 sued the Trump administration over threats to withhold disaster relief and infrastructure funds unless states help identify undocumented immigrants and assist with deportations. California Attorney General Rob Bonta called it “a blatantly illegal attempt to bully states.” Homeland Security and the Department of Transportation told states they must share data with ICE and eliminate diversity programs or risk losing money for airports, bridges, and emergency services. “We are experiencing creeping authoritarianism in this country,” Rhode Island AG Peter Neronha said. (Axios / CBS News)

  7. The Trump administration will roll back federal limits on four toxic “forever chemicals” in drinking water, reversing parts of a 2024 Biden-era rule designed to reduce cancer and other health risks. The EPA will rescind mandatory limits for GenX, PFBS, PFHxS, and PFNA while delaying enforcement of existing rules for PFOA and PFOS until 2031. EPA Administrator Lee Zeldin claimed the move allowed for “common-sense flexibility.” (CBS News / Washington Post / Politico / The Hill)

  8. Health and Human Services Secretary Robert F. Kennedy Jr. told Congress that “people should not be taking medical advice from me” – despite leading the nation’s top public health agency. Kennedy made the comment under questioning about vaccines, saying that “My opinions about vaccines are irrelevant” while refusing to say whether he would vaccinate his children today. Rep. Rosa DeLauro responded bluntly: “You’re the secretary of HHS […] it’s horrifying that you will not encourage families to vaccinate their children.” (ABC News / NBC News)

end note/ The End of Rule of Law in America. “The 47th president seems to wish he were king – and he is willing to destroy what is precious about this country to get what he wants.” (The Atlantic)

Last year today: Day 1211: "It's cheating."
Four years ago today: Day 115: "Very concerning."
Six years ago today: Day 845: Echoes.
Seven years ago today: Day 480: A fucked-up feedback loop.