President Donald Trump marked the week by unveiling an unprecedented wave of tariffs on imports to the U.S., aligning with his long-held position that other countries have taken advantage of the U.S. in trade. 

Trump disclosed the historic tariffs in a ceremony at the White House’s Rose Garden for a ‘Make America Wealthy Again’ event, asserting these new duties would generate new jobs for U.S. workers. 

‘For nations that treat us badly, we will calculate the combined rate of all their tariffs, nonmonetary barriers and other forms of cheating,’ Trump said Wednesday.

‘And because we are being very kind, we will charge them approximately half of what they are and have been charging us,’ he said. ‘So, the tariffs will be not a full reciprocal. I could have done that. Yes. But it would have been tough for a lot of countries.’

The tariff plan establishes a baseline tax of 10% on all imports to the U.S., along with customized tariffs for countries that place higher tariffs on American goods. The baseline tariffs of 10% will take effect Saturday, while the others will take effect Wednesday. 

The Trump administration previously imposed a 25% tariff on imported vehicles, up to 25% tariffs on certain goods from Mexico and Canada and a 20% tariff on shipments from China. The tariffs already imposed on Canada and Mexico remain unaffected, but the new tariffs on China will be added on top of the previous duties on Beijing, according to the White House. 

The tariffs have faced backlash from both parties in Congress, and allies, including Canada and Australia. A bipartisan group of senators introduced legislation Friday called the Trade Review Act of 2025 that would require the executive branch to provide Congress a 48-hour notice before imposing tariffs. Likewise, the measure would permit tariffs to expire after 60 days, unless Congress moves to approve a joint resolution codifying the duties. 

Treasury Secretary Scott Bessent urged countries against imposing retaliatory tariffs against the U.S. in response. 

‘My advice to every country right now: Do not retaliate,’ Bessent said in an interview Wednesday with Fox News. ‘If you retaliate, there will be escalation.’

Here’s what also happened this week: 

National Security Council firings 

Trumpalso disclosed that several members of the National Security Council, headed by National Security Advisor Mike Waltz, were fired Thursday. Trump said the firings affected a small number of employees, and he still had a high level of confidence in his national security team. 

‘Always, we’re going to let go of people we don’t like or people we don’t think can do the job or people who may have loyalties to somebody else,’ Trump told reporters on Air Force One when asked about media reports on the firings.

The firings come amid scrutiny over Waltz’s use of a Signal group chat to discuss strikes in Yemen after a journalist was accidentally added to the group. 

Waltz created the group chat that included White House leaders like Vice President JD Vance and Secretary of Defense Pete Hegseth. The chat also included Atlantic editor-in-chief Jeffrey Goldberg.

The White House said classified information was not shared via the encrypted messaging service. However, The Atlantic published the full exchange of messages March 26. The messages included certain attack details, including specific aircraft and times of the strikes. 

Still, the White House has defended Waltz and said the White House is no longer looking into the incident. 

‘As the president has made it very clear, Mike Waltz continues to be an important part of his national security team,’ White House press secretary Karoline Leavitt told reporters Monday. ‘And this case has been closed here at the White House as far as we are concerned.’

Musk’s DOGE status 

The White House confirmed that SpaceX and Tesla CEO Elon Musk would depart his position spearheading the Department of Government Efficiency (DOGE) later this spring in response to reports from Politico that Trump was disclosing to those close to him that Musk would ‘step back’ from his role with DOGE in the forthcoming weeks. 

‘This ‘scoop’ is garbage,’ Leavitt posted on X Wednesday. ‘Elon Musk and President Trump have both *publicly* stated that Elon will depart from public service as a special government employee when his incredible work at DOGE is complete.’

Musk is a ‘special government employee.’ The executive or legislative branches are permitted to take on temporary employees to address short-term projects for up to 130 days in a single 365-day period. For Musk, that period of time will expire at the end of May.

Musk and Trump have previously said they anticipate Musk will complete the work necessary for DOGE within that window of time. 

Fox News’ Emma Colton contributed to this report. 

A cohort of Democratic representatives and senators are proposing legislation aimed at stalling President Donald Trump’s efforts to relocate federal agencies outside of Washington, D.C., something the president has taken steps to start doing. 

Guidance issued in February from the Trump administration instructed federal agencies to submit any proposed relocation of agency bureaus and offices by April 14, instructions that were tied to the president’s broader efforts to eliminate waste, fraud and abuse within the federal government. 

The pair of companion bills from Democrats in the House and Senate seeks to require agencies to conduct and share a comprehensive cost-benefit analysis with Congress and the public prior to any relocations.

‘Everyone standing here, every one of my colleagues, wants to get rid of fraud, waste and abuse… but that rhetoric [from the administration] is a cover for an agenda that is perverse and contrary to the interests of the United States of America,’ Rep. Steny Hoyer, D-Md., said during a press conference held at the Capitol announcing the new legislative effort.

‘All of this is targeted at depleting the federal workforce and nullifying the government of the United States,’ Rep. Jamie Raskin, D-Md., added. ‘That is the philosophy that is driving this entire thing.’ 

Maryland Democratic Sen. Chris Van Hollen previously introduced ‘The COST of Relocations Act’ in 2020, and again in 2023.

‘We hoped [the bill] wouldn’t be necessary again, but it is,’ Van Hollen stated at the press conference. ‘It’s necessary in order to stop Donald Trump and Elon Musk from wasting American taxpayer dollars by sabotaging services that the American public depends on.’

Let us be honest: When most people hear ‘tariffs,’ they think about price hikes and trade wars. But the Trump administration’s latest tariff rollout is not merely a knee-jerk protectionist move—it is part of a far broader strategy.

What is actually in play here is a high-stakes effort to build up leverage and resources to manage America’s debt, reset its industrial base, and renegotiate its standing in the global order.

And it all begins with a problem most people have not been told enough about.

In 2025, the U.S. government must refinance $9.2 trillion in maturing debt. Some $6.5 trillion of that comes due by June. That is not a typo—that is a debt wall the size of a small continent.

Now, here is the math: According to Treasury Secretary Scott Bessent, each basis-point (one one-hundredth of a percent) drop in interest rates saves the government roughly $1 billion per year. Since the announcement of tariffs on April 2, 10-year Treasury yields have fallen from 4.2 percent to 3.9 percent—a 30 basis point drop. If that holds, it translates to $30 billion in savings.

So, keeping yields low is not just sound policy—it is a fiscal necessity.

But we are in a difficult environment. Inflation has not fully cooled, and the Federal Reserve remains wary of cutting rates too quickly. So the question becomes: How does one bring yields down without the Fed’s help?

Here is where the strategy becomes interesting.

By introducing sweeping tariffs, the administration is creating precisely the kind of economic uncertainty that drives investors toward safer assets such as long-term U.S. Treasuries. When markets are spooked, capital exits risk and equity assets (as we see with the stock market collapse) and piles into safe assets, primarily the 10-year U.S. treasury bond. That demand pushes yields lower.

It is a counter-intuitive move, but a calculated one. Some have called it a ‘detox’ for the overheated financial system. And it appears to be working.

However, even cheaper debt does not solve everything. The deficit remains massive—and that is where spending cuts come in.

Backed by the Department of Government Efficiency (DOGE) and Elon Musk, the administration is reportedly targeting $4 billion in daily spending cuts. If their recommendations translate to cuts and get ratified by Congress, that could amount to a trillion dollars off the deficit by late 2025.

At this point, we have two pillars: lower borrowing costs and tighter spending. But there remains a third—and arguably most important—pillar: growth.

Tariffs serve as the ignition switch. By making imports more expensive, they create space for American producers to step back in. The objective is not to punish trade partners—it is to make domestic industry viable again, even if only long enough to rebuild critical capacity.

Yes, prices will rise. But the administration is fully aware of that. In fact, it is front-loading the pain now, hoping to deliver visible job growth and factory activity before the November 2026 midterm elections.

In the meantime, tariffs themselves will generate revenue—an estimated $700 billion or more in the first year. That creates more fiscal room for the administration to enable tax cuts and keep spending on Social Security, Medicaid and other programs.

Where the picture becomes even more interesting is on the geopolitical front.

These tariffs do not exist in a vacuum. They are being deployed alongside a deliberate reshaping of global alliances. The U.S. is quietly distancing itself from NATO, recalibrating ties with Europe, and opening previously frozen diplomatic channels with the Gulf nations and Russia.

Why? Because the post-Cold War trade order no longer serves U.S. interests. It enabled deficits, offshoring, and strategic dependency. Now, tariffs become leverage. Allies who align with U.S. priorities receive relief; others face higher costs.

China, naturally, is the central player. For years, economists have argued that its artificially weak currency and industrial overcapacity have distorted global trade. Tariffs are one way to force a reckoning—and potentially, a revaluation of the yuan.

Other countries will not be spared. Europe could be asked for terms on Ukraine. India may be pressured for deep tariff cuts. Canada and Mexico will likely face demands related to fentanyl and border enforcement.

This is not random. It is trade policy as a means to force countries to the negotiating table.

Domestically, the political logic is equally clear. The sectors most likely to benefit—steel, automobiles, textiles—are concentrated in battleground states. The administration is betting that visible wins in those regions will outweigh short-term pain in sectors dependent on cheap imports.

There are serious risks here. If inflation returns or if the reshoring bet fails, the blowback could be severe. But make no mistake: This is not improvisation. It is disruption by design.

Whether one agrees with it or not, this is one of the most ambitious fiscal and industrial resets in a generation.

The only question that remains is—will it work?

In a week that saw French right-wing leader Marine Le Pen banned from running for office, the South Korean Constitutional Court’s ouster of President Yoon Suk Yeol from office on Friday has critics looking towards Beijing’s hand in efforts to remove the leader from power.

‘Yoon’s foreign and security policies stand in stark contrast to the pro-China figures long supported and controlled by the [Chinese Communist Party (CCP)],’ Anna Mahjar-Barducci, Middle East Media Research Institute (MEMRI) project director, told Fox News Digital. She explained that those policies ‘posed a threat to Beijing’s long-term strategy of cultivating a pro-China faction in South Korea,’

Mahjar-Barducci claimed the CCP has used ‘overt economic cooperation, political donations, covert benefit transfers and even illegal sexual bribery’ to cultivate ‘certain South Korean political figures over time, aiming to undermine the U.S.-South Korea alliance, weaken South Korea’s strategic independence and expand its regional influence at the expense of the U.S.’ 

Mahjar-Barducci also claimed that one Korean activist who spoke to her on Friday told her that election fraud in South Korea had been organized in cooperation with China, whose government had unduly influenced the past two general elections. 

The Associated Press reported on Friday that supporters of the ousted president were enraged by the decision. Kim Min-seon, a Yoon supporter, is quoted as saying it was the only way to deal with liberals blocking Yoon’s efforts to fight Pyongyang and Beijing’s campaigns to threaten South Korea’s democracy through cyberattacks, disinformation and technology theft — something denied by the opposition party. 

Yoon had long provoked the ire of North Korean dictator Kim Jong-un over his plans to increase his country’s nuclear capacity. The former South Korean leader sought increased cooperation with the U.S. as a deterrent to the North Korean threat.

A spokesman from the Chinese embassy in Washington D.C. did not answer Fox News Digital questions on allegations the country interferes in Seoul’s politics. Questions sent to the South Korean embassy were not returned. 

Mahjar-Barducci also explained that given the ‘intensive coverage by Beijing’s media’ of Yoon’s dismissal, the CCP is ‘brimming with pride’ and ‘extremely pleased’ with the turn of events. Beijing ‘has already taken down two pro-American South Korean presidents, Park Geun-hye and Yoon Suk Yeol, which shows just how deep Beijing’s infiltration and influence in South Korea are,’ she said.

‘South Korea needs to be the strongest ally, along with Japan, of America,’ Mahjar-Barducci continued. But Beijing is poising itself to ‘win over this important strategic area,’ which the U.S. ‘cannot afford to lose.’

Mahjar-Barducci said Yoon’s removal is part of a ‘pattern… all over the world’ of right-wing candidates being forbidden from seeking election, including Romanian right-wing presidential frontrunner Călin Georgescu and French right-wing politician Le Pen. ‘The judiciary has been weaponized once again,’ she explained.

The CCP’s hand in South Korea comes at a time when Beijing is holding large-scale military drills around Taiwan, with 19 vessels from the Chinese navy being spotted in the waters surrounding Taiwan between Monday and Tuesday morning. Mahjar-Barducci said that while Beijing has attempted to make such drills ‘a new normal,’ it has also warned that the ‘drills could unexpectedly turn into a real war.’

South Korea will hold elections for a new president in two months. Fox News Digital has reported that surveys show liberal opposition Democratic Party leader Lee Jae-myung is ‘an early favorite’ for the position.

The Senate approved changes to the House’s budget resolution on Saturday after an hourslong series of amendment votes during which Democrats sought to put Republicans on record on issues like tariffs and the Department of Government Efficiency (DOGE). 

It passed mostly along party lines in a 51 to 48 vote.

The amended framework would raise the debt ceiling by up to $5 trillion within the reconciliation process, taking future leverage away from Senate Democrats. It would also make President Trump’s 2017 tax cuts permanent by using what’s called a current policy baseline that Budget Committee Chairman Lindsey Graham, R-S.C., decides.

The scoring tool essentially means the cost of making Trump’s tax cuts permanent would be factored at $0 because it extends current policy, rather than counting it as new dollars being added to the federal deficit.

Budget reconciliation lowers the vote threshold in the Senate from 60 to 51, which lets Republicans approve certain priorities with no Democrat support. 

Washington’s Republican trifecta thus sees reconciliation as a key tool for delivering on Trump agenda items. 

The Senate’s Friday night ‘vote-a-rama’ was triggered by the chamber agreeing to a motion to proceed to the budget resolution amendment on Thursday night. Nearly a day of debate followed before the vote series was initiated.

During this type of voting series, senators of both parties can introduce an unlimited number of amendments, and many get floor votes.

The budget would address border funding for the Trump administration as well as extend the hallmark tax cuts Trump passed in 2017. 

Initially, there was stark disagreement between Republicans in the House and Senate on how to organize a budget reconciliation resolution. The House GOP leaders preferred one bill with both the border and taxes included, while those in the Senate wanted to have two separate resolutions for them. 

But the House’s approach ultimately won out, with Trump supporting their plan. 

Defense Secretary Pete Hegseth is slated to meet with Panama leaders next week amid President Donald Trump’s continued efforts to regain control of the key strategic and military resource. 

The Trump administration has been outspoken about national security threats presented by alleged Chinese interference.

During a February visit to the country, Secretary of State Marco Rubio wrote in an X post that ‘the United States cannot, and will not, allow the Chinese Communist Party to continue with its effective and growing control over the Panama Canal area.’ 

Chief Pentagon spokesman Sean Parnell confirmed on Friday the secretary of defense will attend the 2025 Central American Security Conference, participating in discussions that will ‘drive ongoing efforts to strengthen the U.S.’s partnerships with Panama and other Central American nations,’ according to a report from the Associated Press.

The president, who has criticized the six-figure premiums imposed on U.S. ships traveling along the vital waterway, previously suggested repurchasing the canal.

It was built by the U.S. over the span of multiple decades, but was eventually handed over to Panama during the Carter administration.

The ‘Panama Canal Repurchase Act,’ a bill that was recently introduced in Congress, would give Trump the authority to negotiate with appropriate Panamanian government officials to reacquire the Panama Canal.

Panama President José Raúl Mulino previously said China does not have influence over the canal and accused Trump of ‘lying’ about potentially acquiring it, according to the AP.

BlackRock, Inc. later announced a $23 billion deal with Hong Kong-based CK Hutchinson to take ownership of the Panamanian ports of Cristobal and Balboa, along with 43 ports in 23 other countries, Fox News Digital previously reported.

The canal could be used as leverage for China in U.S. tariff negotiations.

Hegseth will also visit Eglin Air Force Base in Florida to meet with military members and leadership at the 7th Special Forces Group, according to the AP.

Fox News’ Morgan Phillips contributed to this report.

The Senate kicked off a marathon vote series on Friday night, which Republicans need to get through in order to approve their changes to the House’s plan for President Donald Trump’s budget. 

The endless amendment votes began after nearly a day of debate concluded. Republicans passed a key motion on Thursday to begin the process, which will end with a vote on their adjustments to the House GOP’s budget. 

During the ‘vote-a-rama,’ senators of both parties are able to introduce an unlimited number of amendments, and many are expected to get floor votes. Democrats are planning to use the marathon of votes as an opportunity to force Republicans to go on record on Trump’s tariffs and the actions of the Elon Musk-led Department of Government Efficiency (DOGE). 

On Thursday, the Senate agreed on a motion to proceed by a vote of 52 to 48, along party lines. 

The only exception was Sen. Rand Paul, R-Ky., who voted against it. He has notably criticized the budget amendment’s provision on the debt ceiling, which would raise it by up to $5 trillion. 

During the last such series in February, the Senate voted for about 10 hours, into the early morning. The budget they passed was the Senate GOP’s preferred strategy of having two budget reconciliation resolutions for the border and extending Trump’s tax cuts. 

But the House’s plan to address both in one bill ultimately won out after getting Trump’s blessing. 

It’s unclear how long the voting will last, as it depends on how many amendments get votes and when Democrat and Republican leadership in the Senate come to a time agreement. 

When the voting series ends, a final vote will take place to approve the Senate amendment to the House’s budget. If this passes, it will still need to return to the lower chamber before taking effect. 

In addition to raising the debt ceiling, and in doing so taking leverage away from the Senate Democrats, the Senate budget amendment makes Trump’s tax cuts permanent by what’s known as a current policy baseline, determined by Budget Committee Chairman Lindsey Graham, R-S.C.

Former President Barack Obama sought to distance himself from the Democratic Party after leaving it in shambles following his departure from the White House, according to a new book. 

The book, ‘Fight: Inside the Wildest Battle for the White House,’published by William Morrow and Company, claims that Obama was never a Democratic Party loyalist. Instead, the authors allege, Obama curried favor from a group of ‘Black professionals’ for his campaigns, unlike former President Bill Clinton and former Secretary of State and presidential candidate Hillary Clinton, and former President Joe Biden. 

Additionally, Obama’s creation of Organizing for Action — a nonprofit that launched in 2012 following Obama’s re-election to advance his legislative priorities — fractured the Democratic Party, according to the book, authored by political journalists Jonathan Allen ofNBC News and Amie Parnes of The Hill.  

‘Though Organizing for Action never realized his vision, it competed with the party for power and money,’ the book said. ‘He left the Democratic Party far weaker than he found it. Or, as one Black party operative put it, ‘Obama destroyed that s—.’’ 

The book also detailed how the Clintons, along with Biden and former Democratic National Committee Chair Donna Brazile and a few other party operatives, sought to ‘rebuild the party infrastructure’ following Obama’s 2016 departure from the White House. This meant preventing far-left Democrats from seizing control of the party and ensuring party loyalists ran the show, according to the book. 

‘By helping install party loyalists at the national and state committees over the course of years, these establishment Democrats kept progressive outsiders at bay. ‘You know who did that?’ said one Black Biden ally familiar with the maneuvering. ‘Bill and Hillary motherf—ing Clinton,’’ the book related. 

‘Fight,’ released Tuesday, also revealed how Obama remained hesitant to back former Vice President Kamala Harris in the 2024 election to replace Biden, amid concerns about his mental fitness. The book claimed that Obama didn’t believe Harris had the capacity to beat now-President Donald Trump in the November 2024 race, frustrating Harris. 

Ultimately, Obama endorsed Harris five days after Biden announced he would not run for office again in the 2024 race — a delay that offended Harris and required some ‘mending’ between the two Democrats, a source close to Obama said, Allen and Parnes wrote. 

A spokesperson for Obama’s press office did not immediately respond to a request for comment from Fox News Digital. 

Even so, Obama’s wife, former first lady Michelle Obama, appeared at the Democratic National Convention in August 2024 after Harris clinched the party’s nomination. 

‘Kamala Harris is more than ready for this moment,’ Michelle Obama said at the convention. ‘She is one of the most qualified people ever to seek the office of the presidency and she is one of the most dignified — a tribute to her mother, to my mother, and probably to your mother, too, the embodiment of the stories we tell ourselves about this country.’ 

Meanwhile, Democrat strategists predict that Barack Obama’s influence over the Democratic Party is waning, and some have suggested he is out of touch with the appeal of Trump. 

For example, political commentator and author Ben Burgess wrote an op-ed after Obama delivered a speech at the Obama Democracy Forum that part of the ‘problem’ is Obama doesn’t understand why Trump won the 2024 election and that the American public should stop listening to the former president. 

‘​​Obama’s characteristic rhetorical virtues were on full display,’ Burgess wrote in December 2024 for MSNBC, following Obama’s speech. ‘He was a constitutional law professor before he was a politician, and he still sounds like one. At the same time, he was a once-in-a-generation talent as a political communicator. He knows how to convey a complex set of ideas in a digestible and appealing way.’ 

‘But there was a massive gaping hole at the center of his speech,’ the op-ed stated. ‘He still doesn’t understand why his eight years in power culminated in the rise of Trump.’ 

‘Fight’ details how Trump secured the White House for a second term and the fallout of his victory for the Democratic Party. It is based on interviews Allen and Parnes conducted with more than 150 political insiders, according to the book’s description. 

Fox News’ Hanna Panreck and Emma Colton contributed to this report. 

: Sen. Jacky Rosen plans to introduce amendments ahead of Friday night’s ‘Vote-A-Rama’ that would roll back President Donald Trump’s tariffs on certain materials on key tourism partners, likely forcing her Republican colleagues to go on record defending the policy again. 

‘President Trump broke his promise to lower costs, and has enacted reckless tariffs that are jacking up prices even higher for hardworking Nevada families and harming my state’s tourism economy,’ Rosen, D-Nev., told Fox News Digital in an exclusive statement. 

‘Donald Trump may not care if his tariffs raise prices, but I do, and that’s why I’m trying to stop his new national sales tax. Every senator should be on the record: Do you stand with America’s working families who need financial relief, or do you stand with Trump in giving his billionaire buddies even more tax giveaways?’ 

The Nevada Democrat’s amendments include one to stop the administration from levying tariffs on critical construction materials for building houses, and one that would bar Trump from putting across-the-board tariffs on countries with many who visit the U.S.

‘I’ve already heard from Nevadans and Nevada business owners who are worried about how these new tariffs will impact their businesses and livelihoods, including the founder of a small business in Reno. They wrote to me saying, quote, ‘We maintain a small production facility in Reno . . . these duties will force us to raise retail prices by 37 percent, and we don’t believe our customers will accept that. This policy could wipe us out entirely,” Rosen said during her debate time on the floor on Friday.

‘They go on to say, quote, ‘I’m not asking for a favor. I’m asking for leadership that reflects the urgency and reality we face. These tariffs do not bring jobs back. They raise prices, punish small businesses, and put livelihoods at risk, all while making it harder for companies like mine to do what we’ve done for 13 years: create jobs, innovate, and support our families,’’ she went on.

On Thursday, Republicans agreed to a motion that kicked off roughly a day’s worth of debate, before the ‘vote-a-rama’ begins. 

A marathon of amendment votes is now expected to take place at some point on Friday after the debate ends. 

During this process, senators can introduce an unlimited number of amendments, and many are expected to get floor votes. 

The ‘vote-a-rama’ marks movement on Trump’s budget for border funding and extending his hallmark 2017 tax cuts, which Republicans in Congress have long been pursuing. This week, the Senate released its changes to the House’s budget reconciliation resolution, taking a big step forward. 

This amendment to the resolution will get a Senate vote at the end of the ‘vote-a-rama.’ 

The expected budget vote comes after months of disagreement between Republicans in the House and Senate, the former of which sought a reconciliation bill to tackle both the border and taxes, while many in the Senate wanted to split it into two bills. 

Ultimately, House Republicans got what they wanted in a one-bill approach, which Trump blessed.