Trump Administration Live Updates: Markets Tumble as Economic Fears Grow
Where Things Stand
Growing economic worries: Stock markets around the world fell on Monday, a day after President Trump did not rule out the possibility that his aggressive trade policies aimed at crucial economic partners could cause a recession this year. The Canadian province of Ontario put in place retaliatory tariffs on energy it exports to Michigan, Minnesota and New York, while Mr. Trump’s trade war with China intensified as Beijing began imposing retaliatory tariffs on American farm products. The S&P 500 was down more than 2 percent at midday.
Ukraine talks: President Volodymyr Zelensky of Ukraine was scheduled to meet with Crown Prince Mohammed bin Salman of Saudi Arabia on Monday, a day before planned talks between Ukrainian and American officials in the kingdom. Mr. Zelensky is working to repair his strained relationship with the United States and secure a favorable deal to end his country’s war with Russia. Read more ›
Public niceties: Days after an ugly confrontation at the White House, Secretary of State Marco Rubio and Elon Musk tried to smooth over tensions with an awkward social media exchange, as Mr. Rubio formalized drastic cuts to the U.S. Agency for International Development that Mr. Musk had demanded. Last week, Mr. Musk jeered Mr. Rubio during a cabinet meeting for not making broader staffing cuts, while Mr. Rubio bristled at how the billionaire had undercut his leadership to flatten the government’s lead agency for distributing foreign aid. Read more ›
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