As the Trump Administration prepares to announce its next round of tariffs this week, we are monitoring the following:
The next sweeping wave of tariffs is set to go into effect on April 2, but significant uncertainty remains over their size, scope and targets. Trump plans to unveil the new package of tariffs during a Rose Garden event on Wednesday.
- Last week, President Trump announced that he would be imposing 25% tariffs on automobile imports in addition to a reciprocal tariffs package, the parameters of which are still being decided.
- Trump also suggested during an NBC interview last night that he would levy secondary tariffs against nations that purchase oil from Russia if a ceasefire with Ukraine is not reached soon.
- Last week, White House officials were indicating that tariffs would be focused on the 10-15 nations with whom the U.S. has the largest trade deficits; however, Trump himself has subsequently indicated that the scope could be much more far-reaching.
- Yesterday, White House aide Peter Navarro asserted that auto import tariffs would bring in $100 billion per year, and other tariffs would net $600 billion each year over the next decade.
President Trump continues to sign executive orders, with additional releases expected later today. Notable executive orders signed last week included:
- Orders targeting government contracts with additional law firms including Jenner & Block and WilmerHale (both of which have filed suits to block the orders).
- New restrictions on collective bargaining for employees of certain federal agencies.
- Reforms aimed at enhancing voter ID verification requirements for state election officials.
Trump will reportedly speak to Russian President Vladimir Putin later this week, following last week’s negotiations between Ukraine, Russia, and the United States in Saudi Arabia. Other recent news on travel and appearances include:
- The White House announced that Trump will travel to Saudi Arabia on the first foreign trip of his second administration, planned for early May.
- Secretary of Transportation Sean Duffy will appear before the Senate Environment and Public Works Committee tomorrow, where he is expected to be the target of tough questioning from Democrats over the administration’s attempts to cut government funding.
- Secretary of Health and Human Services Robert F. Kennedy, Jr. traveled to West Virginia last Friday, where he advocated for restricting SNAP recipients from using their benefits to purchase certain ultra-processed foods and beverages.
Congress remains in session this week as Senate Majority Leader John Thune considers bringing a compromise budget resolution to the floor, paving the way for the reconciliation process to move forward.
- Leadership will also be closely monitoring pending rulings from the Senate Parliamentarian about budget scoring mechanisms, which will be instrumental in guiding how Republicans craft their budget instructions.
Special elections to replace former Rep. Matt Gaetz and National Security Adviser Mike Waltz will take place in Florida tomorrow. While both seats are generally considered safe Republican holds, Democrats are looking at the possibility of closer-than-expected margins for signs of potential voter reaction to the Trump agenda.
- The surprisingly tight polling in the race to replace Waltz has fueled early GOP concerns about their ability to pass major agenda items through a closely-divided Congress, as well as their electoral prospects in the midterms.
- This concern was further underscored last week when President Trump rescinded the nomination of Rep. Elise Stefanik (R-NY) for U.S. Ambassador to the UN, as Republicans were unwilling to risk a special election even in her safe Republican district.
- Also tomorrow, a high-profile Supreme Court election in Wisconsin will take place that will serve as another early bellwether for voter sentiment under Trump.
Numerous sub-cabinet nomination hearings and confirmation votes are scheduled for this week as the Senate continues to process President Trump’s nominees.
- Tonight, the Senate will begin floor consideration of the nomination of Matthew Whitaker to be U.S. Permanent Representative on the Council for NATO.
- Many sub-cabinet nominees will receive hearings before their respective committees of jurisdiction, including Lt. General John Caine, Ret. (Chairman of the Joint chiefs of Staff, DoD), Tilman Fertitta (Ambassador to Italy), Katharine MacGregor (Deputy Secretary of the Interior), James Danly (Deputy Secretary of Energy), Scott Kupor (Director of the Office of Personnel Management), and Eric Euland (Deputy Director for Management, Office of Management and Budget)
- Last week, the Senate voted to confirm Paul Lawrence (Deputy Secretary of Veterans Affairs), Michael Faulkender (Deputy Secretary of Treasury), and Aaron Reitz (Assistant Attorney General for the Office of Legal Policy).