President Trump‘s tariff flip-flop, escalating tensions with Panama, and a controversial pause on aid to Ukraine dominated headlines this week.
Here’s our recap of key developments.
Trump tariffs sweep
Trump’s shifting position on tariffs rattled U.S. markets this week and incited a global trade war.
- By some estimates, the president’s tariffs on America’s closest trading partners could cost the average U.S. household $830 a year. And that’s before factoring in the cost of anticipated retaliatory tariffs.
The president on Tuesday imposed 25% tariffs on most imports from Mexico and Canada. He increased tariffs on China from 10% to 20%.
- By Thursday, he reversed himself and paused tariffs on Mexican and Canadian imports covered by a North American trade agreement until April 2.
Go deeper: Trump stares down early economic potholes
Trump’s many words to Congress
Trump’s first congressional address on Tuesday lasted nearly 100 minutes, making it the longest of its kind in recent history.
- It felt like a typical stump speech from the president. He boasted about the executive order blitz that’s upended American life and the nation’s position on the world stage and touched on immigration, sports, DEI and foreign policy.
- Elon Musk, current and former Supreme Court justices and members of Trump’s Cabinet attended.
The Democrats’ response to the speech sparked its own mini-news cycle.
- Democratic Rep. Al Green (Texas) was ejected from the chamber early in the evening for heckling Trump. Other House members either walked out, held signs or wore pink. House leadership and Democrats didn’t widely embrace the moves.
- Axios’ Hill team scooped that Democratic leadership privately scolded some members who defied orders not to make themselves the story. Ten Democrats joined every House Republican in a Thursday vote to censure Green.
- Sen. Elissa Slotkin (D-Mich.) delivered her party’s rebuttal,
Go deeper: Behind the Curtain: Trump, on steroids
Trump pauses aid to Ukraine
The caustic relationship between Trump and Ukrainian President Volodymyr Zelensky entered the next phase of volatility this week after a tense and televised meeting between the two last Friday.
- Trump on Monday halted—at least temporarily—military assistance the U.S. pledged to Ukraine until a date is set for peace negotiations with Russia.
- Zelensky agreed to a partial ceasefire on Tuesday, and Trump during his address to Congress, softened his tone on the Ukrainian president.
Negotiating with Hamas
The Trump administration is, for the first time, in direct talks with Hamas about the release of U.S. hostages held in Gaza and a wider deal to end the war, Axios’ Barak Ravid reported exclusively on Wednesday.
- Israel announced on Sunday it is halting humanitarian aid and fuel deliveries to Gaza after a ceasefire agreement with Hamas ended.
- Trump told Hamas he would authorize additional Israeli military strikes on Gaza unless the group releases its remaining hostages.
Separately, Secretary of State Marco Rubio is launching an AI-fueled “Catch and Revoke” effort to cancel the visas of foreign nationals who appear to support Hamas or other designated terror groups, senior State Department officials told Axios’ Marc Caputo.
Trump on Panama Canal
Panamanian President José Raúl Mulino accused Trump of “lying again” when he claimed Tuesday his administration will be “reclaiming” the Panama Canal.
- “I reject in the name of Panama and all Panamanians this new affront to the truth and our dignity as a nation,” Mulino said Wednesday in a post on X translated from Spanish.
- The U.S. president’s comments follow BlackRock’s agreement to acquire two ports serving the canal from a Chinese group, CK Hutchison, as part of a larger $22.8 billion deal.
Go deeper: BlackRock buying two Panama Canal ports from China’s Hutchinson
More from Axios:
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- White House now says firing probationary workers up to agencies
- Tracking Trump: Press pool takeover, Zelensky and the Musk effect