When most of us woke up Wednesday morning, President Donald Trump was still very excited about the tariffs he imposed on dozens of countries that had gone into effect just after midnight eastern time. At the National Republican Congressional Committee dinner the night before, he even claimed the scheme would be ‘legendary in a positive way’ and bragged, ‘These countries are calling us up. Kissing my ass.’ But by Wednesday afternoon, Trump had blinked, announcing a 90-day pause on nearly all of the ‘reciprocal’ tariffs he unveiled last week (China was the exception; he boosted tariffs to 125 percent after Beijing retaliated with it’s own reciprocal tariffs). Alex Jacquez, chief of policy and advocacy at the progressive think tank Groundwork Collaborative and a member of former President Biden’s White House National Economic Council, explains why all this volatility leaves America worse off economically.

And in headlines: Michigan Gov. Gretchen Whitmer made an uncomfortable guest appearance in the Oval Office, The White House said it’s freezing hundreds of millions in federal funding for Cornell and Northwestern universities, and two federal judges put limits on the Trump administration’s use of the Alien Enemies Act to deport alleged foreign gang members.

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