| | | |  | | By Ali Bianco and Makayla Gray | | Presented by |  | | | |  | THE CATCH-UP | | | 
Defense Secretary Pete Hegseth speaks to members of the media during a press briefing at the Pentagon in Washington, Thursday, March 19, 2026. (AP Photo/Manuel Balce Ceneta) | AP | THE DRUMBEAT OF WAR: All eyes remain on the war in Iran this morning as President Donald Trump stares down threats of escalation and market turmoil. Iran has doubled down on attacks on energy facilities in the Gulf following Israel’s attack yesterday on South Pars, a key Iranian gas field. The retaliatory strikes risk raising the stakes and plunging the greater region further into conflict, AP’s Jon Gambrell and colleagues report. Iran’s attacks on Qatar knocked out 17 percent of the country’s liquid gas export capacity — causing a $20 billion revenue loss and impacting their capacity for up to five years, Reuters’ Maha El Dahan and colleagues scooped. The market fallout has been swift: Oil and natural gas prices surged this morning, with oil nearing an eye-popping $120 a barrel, while the stock market opened lower for a second day of declines, per WSJ. The World Trade Organization is now forecasting slower than expected global trade because of the conflict. And top Iranian officials including Foreign Minister Abbas Araghchi are promising “ZERO restraint” if their energy infrastructure is targeted again. Speaking to reporters today, Trump said he told Israeli PM Benjamin Netanyahu not to attack oil and gas fields in Iran. “I told them, don't do that,” Trump said. “We get along great, it's coordinated, but on occasion, he will do something and if I don't like it,” the president added, repeating he had no knowledge of the attack (which Israeli officials have cast doubt on.) But Trump put a finer point on it: “We’re not doing that anymore.” At the same time, top intelligence officials including DNI Tulsi Gabbard testified before Congress again this morning, where lawmakers honed in on questioning over the war in Iran and the stunning resignation of one of her top aides. Gabbard told House members the U.S. and Israel’s objectives in the war are “different”: “We can see through the operations that the Israeli government has been focused on disabling the Iranian leadership and taking out several members,” she said. “The president has stated that his objectives are to destroy Iran’s ballistic missile launching capability.” More from NBC The fallout from the war is forcing new solutions to try to bring prices down and mitigate its impact. Treasury Secretary Scott Bessent this morning opened the door to suspending sanctions on Iranian oil already at sea, which could bring costs down for the “next 10 or 14 days,” POLITICO’s Gregory Svirnovskiy and Ben Lefebvre report. That’s on top of tapping the U.S. Strategic Petroleum Reserve and easing some sanctions on Venezuela’s state oil and gas company authorized yesterday. The “chokepoint,” as Bessent called it, is the effective closure of the Strait of Hormuz that is strangling the flow of oil. Major U.S. allies — which Trump has both asked to help but also said the U.S. does not need — have largely resisted getting involved. But that may be changing after a joint statement from European leaders and Japan that they will act to stabilize markets and get involved in “appropriate efforts” to reopen the strait, Reuters’ Andrew Mills and Timour Azhari write. That new shift to secure the strait is good timing for Japanese PM Sanae Takaichi, who joined Trump in the Oval Office this morning and echoed that commitment to help avoid an energy catastrophe. Trump told reporters he expects Japan to “step up,” adding “we have had that kind of relationship.” The conflict shows no signs of abating, with Defense Secretary Pete Hegseth telling reporters this morning that Iran will face the “largest strike package yet” while dismissing the idea the U.S. is careening toward another “forever war,” CBS’ Caroline Linton and Tucker Reals write. He said the operation is “on plan” with clear objectives, but has no time limit yet and will end at “the president’s choosing, ultimately.” Adding to fears of prolonged conflict is the whopping $200 billion ask for supplemental funding — which would be the largest supplemental spending bill since the Covid era and far more than any funding given to other conflicts, like the war in Ukraine. The big price tag could intensify the partisan fight over the war, and while Republicans have offered a cautious yes on funding, many told POLITICO’s Connor O'Brien and Leo Shane III they need to see details first. Speaker Mike Johnson didn’t rule out the full $200 billion and said he expects a “detailed and specified” DOD request, per POLITICO’s Meredith Lee Hill. But Senate Majority Leader John Thune said it “remains to be seen” if that ask could pass the Senate, per Punchbowl. DEEPER READ: “Trump is poised to take Iran’s Kharg Island. Here’s what could unfold next,” by POLITICO’s Scott Waldman: “The president’s attacks on Iran’s oil infrastructure could determine the course of the war — and its domestic political fallout.” Good Thursday afternoon. This is Ali Bianco and Makayla Gray. Thanks for reading Playbook PM. Drop us a line at abianco@politico.com and mgray@politico.com.
| | 6 THINGS YOU NEED TO KNOW | | 1. DHS DIGEST: The Senate Homeland Security Committee voted 8-7 to advance Sen. Markwayne Mullin’s nomination to be DHS secretary this morning. The vote was mostly along party lines, with Chair Rand Paul voting no with most Democrats after the Kentucky Republican dramatically clashed with Mullin during his confirmation hearing yesterday. Sen. John Fetterman (D-Pa.) joined Republicans to advance Mullin’s nomination, POLITICO’s Eric Bazail-Eimil reports. Meanwhile, Transportation Secretary Sean Duffy is warning that small airports could close as a result of the DHS shutdown, as 50,000 airport security officers go without pay, Reuters’ David Shepardson reports. “Since Sunday, around 10% of Transportation Security Administration airport personnel have failed to show for work daily - about five times the normal rate. That's led to long security lines at a number of major airports.” Follow the money: “Some DHS contractors told White House officials they were asked to pay Corey Lewandowski,” by NBC’s Julia Ainsley and colleagues: “Some companies complained to the Trump administration that Lewandowski has stood to personally profit from the DHS contracting process. Lewandowski denies the allegations.” 2. STAY FOR A WILES: “How Susie Wiles is balancing one of the most powerful jobs in the world with her cancer diagnosis,” by CNN’s Alayna Treene and Adam Cancryn: “When White House chief of staff Susie Wiles told President Donald Trump she had breast cancer last week, he urged her to start treatment immediately — and take as much time away from the White House as needed. Wiles agreed, but made one thing clear: She wasn’t going anywhere. “The 68-year-old insisted she continue serving as his top aide while undergoing cancer treatments that are expected to last several weeks … Wiles’ diagnosis has generated fresh anxiety among aides and allies who describe her as perhaps the sole irreplaceable figure in Trump’s orbit — and the only one capable of imposing order on a White House led by a famously unmanageable commander in chief.” 3. 2026 WATCH: Sen. Elizabeth Warren (D-Mass.) is endorsing Graham Platner in his bid to best Gov. Janet Mills in the Democratic primary as Democrats vie to flip Maine and unseat GOP Sen. Susan Collins, Bloomberg’s Magan Crane reports. As the midterms approach, with plenty of heated primaries still to come, some progressives are starting to focus on backing one candidate per race in an effort to cut back on splitting votes to create an opening for moderates, according to Axios’ Andrew Solender. More endorsements to watch: Thune and Sen. Tim Scott (R-S.C.) endorsed Rep. Kevin Hern’s bid to replace Mullin, POLITICO’s Finya Swai reports. Thune said Hern was a “proven conservative leader” and staunch supporter of the Republican agenda. “He will be a great asset in the Senate and has my full support and endorsement,” Thune said in a statement. Somewhere in between: “Six Gubernatorial Rating Changes in Favor of Democrats, but Republicans May Still Come Out Ahead,” by Kyle Kondik and J. Miles Coleman of the Center for Politics: “We are making six gubernatorial race rating changes this week, all in favor of Democrats. … Despite these changes, Republicans may still be better-positioned to maintain an overall advantage in governorships held, and thus defy the usual trend of gubernatorial losses for the president’s party in midterms.”
| | | | A message from BlackRock: BlackRock launched Future Builders, a $100 million philanthropic initiative designed to expand economic opportunity for 50,000 tradespeople nationwide and support the next generation of America's skilled trades. As the U.S. faces historic demand for new and modernized infrastructure, the initiative helps address urgent labor needs by connecting workers to training, supporting licensure, and helping participants build long-term financial security. Learn more. | | | | 4. ANTITRUST THE PROCESS: Eight states filed a lawsuit over Nexstar’s proposed $6.2 billion acquisition of Tegna, arguing it violates federal antitrust laws, NBC’s Daniel Arkin reports. The suit was filed by AGs from California, New York, Colorado, Illinois, Oregon, North Carolina, Connecticut and Virginia. 5. HEALTH OF A NATION: “How Robert F. Kennedy Jr.’s Vaccine Agenda Risks a Resurgence of Deadly Childhood Plagues,” by ProPublica’s Patricia Callahan: “[HHS] Secretary Robert F. Kennedy Jr., who founded an antivaccine group and once likened the immunization of children to a holocaust, is transforming a government that long championed the lifesaving benefits of shots into one that spreads doubts about their safety here and abroad. Kennedy is also considering changes that could prompt the few companies that make vaccines for American kids to abandon the U.S. market, leaving parents who want the shots unable to get them.” 6. DOJ’S DANCE: “Inside the Justice Dept.’s Push to Prosecute Protesters,” by NYT’s Alan Feuer and colleagues: “[E]ven though the Trump administration has portrayed protesters as left-wing terrorists and pushed for serious charges to be filed, often over actions that defense lawyers say are protected by the First Amendment, the efforts have failed so far to reveal a pervasive web of leftist groups working together. Indeed, the conspiracy cases the Justice Department has filed against demonstrators it has cast as left-wing activists have had limited success, for now.”
| | TALK OF THE TOWN | | SPORTS BLINK — The UFC’s Freedom 250 match scheduled to take place on the White House's South Lawn on June 14 — Trump’s birthday — has donors, lobbyists and members of Congress battling for tickets, Axios’ Alex Isenstadt reports. Trump says it’s the “hottest ticket that I've ever seen.” The fight will have 5,000 VIP seats available, “but many of those tickets will go to military personnel, leaving perhaps just a couple thousand — and far fewer cage-side — for the well-connected.” THE NEXT VANITY PROJECT? — “Trump’s face on a gold coin? His hand-picked panel will decide,” by WaPo’s Dan Diamond: “A federal arts commission will weigh whether to approve a commemorative gold coin featuring Donald Trump on Thursday, the administration’s latest effort to celebrate the president … The proposal calls for a 24-karat gold coin depicting Trump leaning on a desk with clenched fists, based on a photograph taken by his chief White House photographer and now displayed in the Smithsonian’s National Portrait Gallery. … The Commission of Fine Arts — composed entirely of Trump appointees … has so far signaled support for the administration’s projects.” PLAYBOOK METRO SECTION — “Why the iconic drum circles at D.C.’s Malcolm X Park are going silent,” by WaPo’s Liam Scott: “Since the 1960s, the drum circle has been among the defining features of the park, which has served as a center of community in that corner of D.C. … But [Doc Powell] said the drums will go silent over the next several months as a new wave of construction from the National Park Service will force most of the park — also known as Meridian Hill Park — to close beginning Monday.” OUT AND ABOUT — Amazon hosted an advance screening of “Project Hail Mary” at the Smithsonian’s National Air & Space Museum last night. SPOTTED: NASA Administrator Jared Isaacman, Rep. George Whitesides (D-Calif.), Christopher Browne, Ashleigh de la Torre, Charles Bolden, Vietnamese Ambassador Nguyen Quoc Dzung, Scott Kelly, Michael Lopez-Alegria, Sandra Magnus, Garrett Haake, John Neal, Bill Nye, Liza Mundy and Lindsay Holst. — The Washington AI Network hosted a podcast taping at the House at 1229 last night with Tammy Haddad and National Cyber Director Sean Cairncross and Sanjay Poonen. SPOTTED: Alex Flemister, Lara Smith, Seval Oz, Lucy Ferguson, Senay Bulbul, Ryan Williams, Matt Gorman, Patty Stolnacker Koch, David Ashley, Maryam Mujica, Sumi Somaskanda, Phil and Chelsea Mattingly, Stephen O’Dwyer, Liz Johnson, Jaisha Wray, Firas Ibrahim, Nicoletta Giordani, Colin Moneymaker, Cat Zakrzewski, Harry Knight, Deniz Houston, Elizabeth Falcone, Julian Ramirez, Maggie Eastland and Benjamin Guggenheim. — Center Forward and Puck hosted a reception honoring the bipartisan House Chiefs of Staff Association at the Embassy of Luxembourg with Ambassador Nicole Bintner-Bakshian. SPOTTED: Leigh Ann Caldwell, Riley Kilburg, Cori Kramer, Julia Ioffe, Ali Hattamer, John McCarthy, Zach Weidlich, Shahid Ahmed, Roddy Flynn, Jaryn Emhof, Anne-Marie Boisseau, Bryan Wheat, Cara Camacho, Ellis McGinnis, Margaret Mulkerrin, Ava Bowman Thomas, Mallika Vastare, John Richter, Matt Lathrop, Julius West, Darien Flowers, Jon Hixson, Shelly Marc, Kristen Hawn and Javier Gamboa. — Invest In Our Land held a reception yesterday to announce the launch of American Farmers For Conservation. The event featured refreshments, a first-of-its-kind projection display that took over the full marble walls of the Rayburn foyer with a performance by D.C.'s Cantate choir. SPOTTED: Rep. Dusty Johnson (R-S.D.), Rebecca Bartels, Callie Eideberg, Jenny Lester Moffitt, Jake Middlebrooks, Mason Ohnstad, T.A. Hawks and Hannah Peyton. TRANSITIONS — Sean Coit is joining Cornerstone Government Affairs as principal on their comms team. He previously led Swivel Public Affairs. … Peter Newell has joined Advanced Aviation Team as president. He previously worked at KPMG and is a White House Travel Office alum. … Sameera Fazili, Andrew Hammond, Kyla Scanlon and Joel Thayer are joining Vanderbilt Policy Accelerator as senior fellows. Fazili is a Biden White House alum and has also worked at Treasury and the Fed. Hammond is a professor at Indiana University Maurer School of Law. Scanlon is an economic commentator and creator with more than one million followers on social media. Thayer is president of the Digital Progress Institute, a senior fellow at the America First Policy Institute and a tech and telecom attorney. 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 Giuseppe Macri and deputy editor Garrett Ross.
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