| | | |  | | By Jack Blanchard | Presented by The American Council of Life Insurers | With help from Eli Okun, Garrett Ross and Bethany Irvine
| | | | Good Thursday morning. This is Jack Blanchard, getting all excited about the cheap Aston Martins and MINI Coopers headed our way. Yep — It’s trade deal day. But first, a bunch of scoops to start your morning. SCOOP — Biden staffs up for fight: With his image badly damaged and facing more bruising battles ahead, former President Joe Biden has tapped Chris Meagher to “help him transition past the first 100 days of the Trump administration,” POLITICO’s Adam Wren, Elena Schneider and Brakkton Booker scoop this morning. Meagher is an experienced Dem operator who served as deputy press secretary in Biden’s White House. And he’s going to be busy in his new role … SCOOP — release the tapes: … Because the hiring comes as the Trump administration makes plans to release the audio from Biden’s interview with Robert Hur, the special counsel who raised questions about his mental acuity, POLITICO scoop-machines Adam Wren and Dasha Burns revealed last night. Though the administration has not yet made a final decision, the explosive recordings would tee off another bitter round of debate about Biden’s cognitive decline. “The Hur audio will confirm what is one of the biggest cover-ups in American history,” Mike Davis, a key outside Trump ally, told Adam and Dasha. Biden and wife Jill are scheduled to appear on “The View” at 11 a.m. this morning. AND ONE MORE SCOOP — A MUST-READ ON TRUMP’S WASHINGTON: Ever since Donald Trump’s election, Florida operative Brian Ballard has enjoyed a golden aura as the go-to lobbyist for those seeking to influence Trump world. His firm has added 130 new clients since November (including Chevron, JPMorgan, Palantir, Netflix and Axel Springer, POLITICO’s owner and parent company), and pulled in $14 million just in Q1 of 2025 alone. “But there is a chasm between Ballard’s reputation and how he’s currently perceived in the West Wing,” POLITICO’s Rachael Bade and Caitlin Oprysko report this morning. Inside the Trump-Ballard split: In early March, after Trump greenlit a Truth Social post promoting a “Crypto Strategic Reserve,” the president came away “furious and felt like he’d been used,” Rachael and Caitlin write: The whole thing happened at the urging of a Ballard employee, and Trump hadn’t realized that Ripple Labs, a company behind one of the crypto tokens, was a Ballard client. “Ballard has been persona non grata in the West Wing ever since,” Rachael and Caitlin report. There’s loads more juice in the piece. OK — In today’s Playbook: — Trump lands his first trade deal — and it’s Britain in the passenger seat. — Xi meets Putin in Moscow as Russia’s three-day Ukraine ceasefire begins. — It’s MAGA vs. MAHA as Laura Loomer takes aim at another surgeon-general.
|  | DRIVING THE DAY | | | 
President Donald Trump speaks before Steve Witkoff is sworn as special envoy during a ceremony in the Oval Office of the White House on May 6, 2025, in Washington. | Mark Schiefelbein/AP | BRIT POPS: Donald Trump will unveil his first post-Liberation Day trade deal this morning — a “major” agreement with the United Kingdom on rolling back tariffs. The U.S. president will be in the Oval Office at 10 a.m. alongside U.K. government officials to sign what he promised last night would be the “first of many” such agreements. It’s another big moment in the rollercoaster story of the Trump 2.0 economy, coming almost a month to the day after the president was forced to roll back his flagship reciprocal tariffs after sending U.S. markets into freefall. Today’s announcement should settle a few nerves. The final details are still under wraps — but helpfully the FT published an excellent readout on the deal’s parameters earlier this week. They reported Trump is lining up tax breaks for U.S. tech giants, plus cheaper access to U.K. car and agricultural markets for American exports. In return, he’s expected to lower steel and automobile tariffs from their current 25 per cent levels for a proportion of U.K. car and metal imports. On the face of it, that sounds like a fairly substantial agreement. On the flip side … that doesn’t mean it’s literally all going to be signed and sealed today — real-life trade deals generally take a little longer than that. Over in the U.K., your author’s former podcast partner Sam Coates reports this is a “heads of terms” agreement only, albeit a “substantive” one. And the NYT quotes a trade expert, Timothy Brightbill, who predicts that all we’ll ultimately see today is “an agreement to start the negotiations.” We’ll have to pick through the hype and the hyperbole once we’ve seen the detail. And the details matter: Because as Jamie Weinstein notes on X, the detail will give us the first real insight into the kind of concessions Trump will accept as a win — and how far he’s actually willing to reduce tariffs in return. But here’s the truth: Both sides need this to work. Despite his claims to the contrary, Trump really does need to get some deals over the line to keep the (reviving) markets on side. Confirmation of the first “agreement in principle” this morning — with the promise of more to follow — should give a further boost of confidence to traders and investors who are starting to believe that many of those so-called reciprocal tariffs will never see the light of day. And for Britain, under-pressure Prime Minister Keir Starmer — who landed a separate free trade deal with India earlier this week — can sell this as a big win back home, evidence that his surprisingly warm relationship with Trump is now bearing fruit. A carveout for a proportion of high-end British cars should save some of the country’s flagship motor brands from financial disaster, with luxury firms like Bentley and Aston Martin hit hard by Trump’s 25 percent tariffs. So it’s good news for James Bond fans, at least. A Downing Street spokesperson said this morning that Starmer will deliver an update later today. So who’s next? Britain has turned out to be something of a dark horse in this race, defying expectations here in D.C. that the first trade breakthrough would come via one of the big Asian economies. (India and Japan were at the top of most people’s lists.) The NYT reports a deal with Israel also “appears” close, and notes negotiations are also ongoing with Vietnam and South Korea. Any or all of them could get over the line in the coming weeks. And what about China? Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer head to Switzerland today for what they insist are very important talks with the leaders of the central European nation of 8 million people. The real reason, of course, are the other important talks scheduled in switzerland for Saturday and Sunday — with the chief trade representative for China, He Lifeng. He (we are supposed to believe) just happens to be passing through Switzerland at the same time.
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People, businesses and communities across the country rely on life insurers for the $8 trillion they invest in the U.S. economy, the policies they guarantee and the financial safety nets they create. See how life insurers help America grow and prosper. | | | | WORLD ON FIRE SPEAKING OF CHINA: President Xi Jinping is in Moscow this morning for talks with Russian President Vladimir Putin. Xi is the guest of honor at Putin’s annual World War II victory parade tomorrow, which carries an added weight this year for the 80th anniversary of VE Day. In a statement released yesterday, Xi said the two men would seek to forge an even closer alliance — a troubling look for a leader who, as the NYT’s David Pierson and Paul Sonne point out, is seeking a closer trading relationship with Europe. Meanwhile in Ukraine: All is quiet in Kyiv this morning on the start of what Putin has said will be a three-day ceasefire. Sadly (but predictably), the general consensus is that this is less a humanitarian act than a cynical move from Putin to secure air cover for the three-day celebration in Moscow. The city has been peppered with Ukrainian drone strikes this past week. Live from the Kyiv streets: Ukrainian President Volodymyr Zelenskyy gave his verdict on Putin’s “victory parade” in a home-shot social media video this morning, greeting passersby as he walks. It’s well worth your time. Also backing Ukraine: Former House Speaker Nancy Pelosi, who told a POLITICO event last night on the sidelines of the Munich Leaders Meeting in Washington that the Russian army has committed “crimes against humanity.” And she praised Vice President JD Vance for his conciliatory tone toward Europe earlier in the day, stressing that the NATO alliance is essential for American security, too. “If we, as the United States of America, do not honor our commitments, I don’t know how we expect people to honor their commitments to us,” Pelosi said. MEANWHILE IN ASIA: Pakistani PM Shehbaz Sharif has condemned India’s deadly strikes in Pakistan and Kashmir, vowing to respond with “decisive action,” CNN’s Sophia Saifi and Sana Noor Haq report. Following an emergency national security meeting, Sharif “called on Pakistan’s Armed Forces to ‘avenge the loss of innocent Pakistani lives and blatant violation of its sovereignty.’” What could that look like? Defense minister Khawaja Asif said Islamabad will only hit military targets, and insisted Pakistan is “trying to avoid” a “full-fledged war,” per CNN. “The defense minister reiterated his call for an international investigation and said he hoped U.S. officials would push India to accept such an inquiry,” NYT’s Julian Barnes reports. DNI Tulsi Gabbard has been in contact with Indian officials as the Trump administration works to deescalate the situation. AND MEANWHILE IN GAZA: The White House is pressuring the U.N and other allies to back an Israeli plan to “resume distribution of limited amounts of humanitarian assistance in Gaza, under conditions that Jerusalem will strictly control,” WaPo’s Karen DeYoung and Claire Parker report. Trump’s envoy Steve Witkoff met with members of the U.N. Security Council yesterday to discuss the proposal, while European-based aid organizations are due to meet with U.S. officials in Geneva today. On the home front: Around 75 people were arrested as pro-Palestinian demonstrators took over a portion of Columbia University's main library last night, the Columbia Spectator reports. The effort was aimed in part at reigniting the protest movement that swept the school last spring, NYT’s Sharon Otterman writes. Those protests — and the university’s alleged failure to protect Jewish students from harassment — are at the center of the Trump administration’s effort to withhold more than $400 million in federal funding for the school. Like tick follows tock: “We are reviewing the visa status of the trespassers and vandals who took over Columbia University’s library,” Secretary of State Marco Rubio posted on X last night. “Pro-Hamas thugs are no longer welcome in our great nation.”
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90 million American families count on life insurers for the financial security that allows them to save, invest and build a future without worry. See how life insurers keep families going. | | | | ON THE HILL RECONCILABLE DIFFERENCES: House Republicans face another day of arduous talks as they struggle to resolve internal disputes over the GOP megabill. Follow the latest at Inside Congress Live On SALT: Ways and Means Republicans huddled over lunch yesterday with blue-state Republicans who are pushing higher deductions for state and local taxes, but the groups are far from an agreement on the issue, POLITICO’s Benjamin Guggenheim reports. Failure to resolve their differences could delay next week’s planned committee vote on the legislation. On tax breaks: As Republicans struggle to find offsets to pay for planned tax cuts, Rep. Ron Estes (R-Kan), a member of the Ways and Means panel, told reporters some may need to be time-limited in order to cut costs, POLITICO’s Brian Faler reports. But even if such a move placates concerns among House members, it would likely “antagonize some of their colleagues in the Senate, including Finance Chair Mike Crapo (R-Idaho) and other tax writers, who call permanency … a top priority.” On Medicaid: Speaker Mike Johnson is in a pickle. Simply put: “Swing-district Republicans are growing increasingly wary of significant Medicaid cuts as they face political heat, while conservative hard-liners are threatening to torpedo the bill unless it contains $2 trillion in cuts,” NBC News’ Sahil Kapur, Scott Wong and Kyle Stewart report. Energy and Commerce Republicans — tasked with finding $880 billion in savings will hold a third consecutive day of talks today. On safety-net spending: One approach GOP lawmakers are considering is shifting the cost of some safety-net programs (e.g. Medicaid and the Supplemental Nutrition Assistance Program) off the federal rolls and onto states. But the idea is vexing Republicans who have experience at the state level and “are not interested in addressing Washington’s fiscal woes by creating them in state capitals,” POLITICO’s Meredith Lee Hill, Jordain Carney and Ben Leonard report. Despite the obvious fractures, the White House and Johnson are still projecting optimism: “We are making great progress on ‘The One, Big, Beautiful Bill,’” Trump said in a Truth Social post, promising to make the economy “boom” while eliminating taxes on tips, Social security and overtime. For his part, Johnson called yesterday’s meeting at the White House with top tax writers and Treasury Secretary Scott Bessent “productive.” “I never have doubts,” he told reporters, per POLITICO’s Mia McCarthy. WHAT COULD SOUR THE RELATIONSHIP: Trump’s “impoundment” threat is not playing well on the Hill: “Republican appropriators are alarmed that the White House is open to unilaterally freezing cash Congress could approve in September, if lawmakers overshoot President Donald Trump’s latest budget request,” POLITICO’s Jennifer Scholtes and Katherine Tully-McManus write this morning. “That’s like a line-item veto, and I think it’s illegal,” said Rep. Mike Simpson (R-Idaho). “That’s a funny way to treat your friends,” added Rep. Mark Amodei (R-Nev.), another senior appropriator.
| | | | Don't miss POLITICO's Security Summit on May 15! Hear from Sen. Deb Fischer (R-Neb.), Rep. Rick Crawford (R-Ark.), Rep. Jim Himes (D-Conn.), Rep. Mike Lawler (R-N.Y.), Rep. Adam Smith (D-Wash.) and more on the future of defense and security policy. Register today. | | | | | FIRST IN PLAYBOOK — Antisemitism on Facebook: A new report from the Anti-Defamation League Center for Tech and Society shows that Jewish members of Congress have experienced a nearly five-fold increase in antisemitic harassment on Facebook following major changes to Meta’s content moderation policy in January 2025. Read the report BEST OF THE REST CHANGE OF OPERATION: ICYMI, Trump pulled his nomination of Janette Nesheiwat for surgeon general yesterday less than 24 hours before she was expected to appear at her Senate confirmation hearing, Bloomberg’s Madison Muller and Josh Wingrove scooped. The eleventh-hour switch came amid doubts about the accuracy of her resumé (including where she received her medical degree) and after far-right figures including Laura Loomer — who has taken it upon herself to vet Trump’s aides on his behalf — claimed she was “not ideologically aligned” with the president, ABC News’ Katherine Faulders, Kelsey Walsh and Ivan Pereira reported. Meet the replacement: In a social media post, Trump unveiled his new nominee for surgeon general: Casey Means, a 37-year-old doctor and online influencer whose brother, Calley Means, serves as a top adviser to HHS Secretary Robert F. Kennedy Jr. NYT’s Tyler Pager notes that the siblings “became especially popular among conservatives after they appeared on Tucker Carlson’s podcast last August, and Mr. Trump and Joe Rogan discussed them in October on Mr. Rogan’s podcast.” But but but: Loomer seems equally unimpressed with Means’ appointment, and spent most of last night attacking both Casey and Calley (and, indeed, their father) in a torrent of social media posts to her 1.6 million followers. Calley tried to offer up some defense — “This is insane…” — but the attacks kept coming with increasing velocity. Beyond all the vitriol, the row offers a rare peek inside what appears to be a broadening MAGA/MAHA split — with RFK’s former running mate, MAHA megastar Nicole Shanahan, backing Loomer over RFK’s own team. One to watch. Related read: “Kennedy Announces New Database for Research Into ‘Root Causes’ of Autism,” by NYT’s Sheryl Gay Stolberg
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| | | | FIRST IN PLAYBOOK — The spin cycle: Sen. John Fetterman (D-Pa.) is in damage-control mode after a dramatic New York magazine piece in which current and former staff publicly shared concerns about his mental and physical health, POLITICO’s Holly Otterbein and Nicholas Wu report this morning. The Pennsylvania Democrat’s tendency to rebuff his colleagues has left him with little outward support from his own party as the rumors around a primary challenge grow. Read the full story IMMIGRATION FILES: U.S. District Judge Brian Murphy warned the White House yesterday its reported plan to send a planeload of Asian immigrants to Libya would “clearly violate” an earlier court decision barring such deportations, POLITICO’s Myah Ward, Kyle Cheney and Josh Gerstein report. “Murphy’s assessment followed an emergency motion filed by lawyers for a group of Asian immigrants seeking to block a military flight that appeared to be on the verge of taking off from Texas,” they write. In an injunction issued last month aimed at blocking deportations to El Salvador, Murphy “ruled that any immigrant expelled to a country ‘not explicitly provided for on the alien’s order of removal’ be given written notice and a ‘meaningful’ chance to contest their deportation.” Related watch: Chief Justice John Roberts gave a rare on-stage interview last night which the ever-helpful Acyn has clipped up for us all to watch. Speaking in a “fireside chat” in his hometown of Buffalo, Roberts defended the independence of the judiciary and denounced any attempt to impeach judges over disagreements with their rulings. “Impeachment is not how you register disagreement with a decision,” the chief justice told a crowd of about 600 people, per the NYT. FIRST IN PLAYBOOK — Major new clean energy campaign: Protect Our Jobs, a new eight-figure campaign aimed at supporting clean energy workers and local economies, is launching its first national ad buy today. In a 30-second spot, entitled “Bracing,” the group calls on Congress to protect clean energy investments and warns viewers about potential higher energy costs. The ad will run nationally on FOX News, CNN, MSNBC’s “Morning Joe,” CNBC and FOX Business, and on streaming TV in D.C. Full ad
| | | | We are in an unprecedented moment in Canadian politics that will shape Canada and its relationship with the U.S. for decades. POLITICO will be your guide to the issues and players driving the agenda with a fresh version of one of our signature newsletters: Canada Playbook. Sign up here to get it straight in your inbox. | | | | | | | TALK OF THE TOWN | | Melania Trump — or, more precisely, her absence — is the subject of a buzzy new piece from NYT’s Shawn McCreesh. He writes that the first lady has “spent fewer than 14 days at the White House since her husband was inaugurated 108 days ago,” with some saying that even that estimate is “generous.” In her absence, President Trump “has taken to performing some duties that typically would fall to a first lady,” including “selecting light fixtures,” redesigning the Rose Garden, and hosting receptions for Women’s History Month. At least 10 members of the cast of “Les Misérables” at the Kennedy Center are planning to sit out the show on June 11, when President Trump will be in attendance for a high-dollar fundraiser, CNN scooped. Sally Quinn is coming out with a new novel, “Silent Retreat,” on June 3 from Amplify Publishing. The Washingtonian is out with its annual clicky list of Washington’s “500 Most Influential People.” OUT AND ABOUT — The National Association of Manufacturers and Rep. Brandon Gill (R-Texas) hosted a House GOP freshman class meet and greet with manufacturers on Capitol Hill on Tuesday night. SPOTTED: Reps. Mike Kennedy (R-Utah), Michael Rulli (R-Ohio), Pat Harrigan (R-N.C.), Gabe Evans (R-Colo.), Tony Wied (R-Wis.), Rob Bresnahan (R-Pa.), David Taylor (R-Ohio), Tim Moore (R-N.C.), Craig Goldman (R-Texas), Jefferson Shreve (R-Ind.) and Troy Downing (R-Mont.). — The Delegation of the European Union to the United States hosted their annual E.U. Transatlantic Bridge Awards last night at the E.U. Ambassador to the U.S. Jovita Neliupšienė’s residence last night. Honorees included Sen. Jeanne Shaheen (D-N.H.), Rep. Nathaniel Moran (R-Texas), Margaret Brennan and Fred Hutchison. SPOTTED: Ukrainian Ambassador Oksana Markarova, Rep. John Garamendi (D-Calif.), Courtney Austrian, Wendy Sherman, Lisa Gable, Kevin Natz, Klaus Becker, Victoria Espinel, Fred Hutchison, Matthew Mazonkey, Mark Nichols, Ladislas Paszkiewicz, Saul Anuzis and Ruth Berry. — SoundExchange hosted Hip Hop on the Hill reception and concert yesterday to benefit the Duke Ellington School of the Arts, featuring Big Boi of Outkast, at Union Stage last night. SPOTTED: Reps. Andre Carson (D-Ind.) and Steven Horsford (D-Nev.), Josh Dawsey, Annie Grayer, Zolan Kanno-Youngs, Phil Lewis, Geoff Earle, Tasia Jackson, Megan Sims, Rick Jakious, Francis Grubar and Helena Rodriguez, Marcus Garza, Aaron Harawa, Jessica Gail, Edgar Rivas, Ian Pigg, Ben Blackmon, Peter-Anthony Pappas, John Lee, Will Moschella, Thomas DeMatteo, Marla Grossman and Tripp McKemey. MEDIA MOVE — Former Rep. Patrick McHenry (R-N.C.) has joined Bloomberg as a politics contributor for TV, radio and podcasts. McHenry will appear on several programs, including “Balance of Power in Washington” and “Surveillance in New York.” TRANSITIONS — Stephanie Sutton is joining the Center for American Progress as chief operating officer. She most recently was acting assistant secretary of the Bureau of Global Public Affairs at the State Department. … Marcel Kaminstein is joining Tactic Global as a partner. He currently is CEO of AiBioTek Association. … Toby Douthat is now chief of staff for Rep. Chuck Edwards (R-N.C.). He was most recently executive director of the Problem Solvers Caucus. HAPPY BIRTHDAY: Reps. Vern Buchanan (R-Fla.), John Moolenaar (R-Mich.) and Dale Strong (R-Ala.) … Bill de Blasio … AP’s Chris Megerian … John Martin … Dave Catanese … CNN’s Ed Meagher … John Stirrup … Herald Group’s Ashley Oates … Melissa Moss of Moss Advisors … Stephen Peters … Anheuser-Busch’s Meghan DiMuzio … Qorvis’ Grace Fenstermaker … GMMB’s Anson Kaye … Guidehouse’s Cooper Smith … Tom McCuin … former Sen. Dennis DeConcini (D-Ariz.) … Cathy Duvall Did someone forward this email to you? Sign up here. Send Playbookers tips to playbook@politico.com or text us on Signal here. Playbook couldn’t happen without our editor Zack Stanton and Playbook Daily Briefing producer Callan Tansill-Suddath.
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