• President Donald Trump on Wednesday announced sweeping tariffs on imports of goods from around the globe.
• Two countries, Canada and Mexico, were notably spared from the latest round of tariffs.
• However, the two neighboring nations are still subject to pre-existing 25% tariffs.

President Donald Trump's latest round of tariffs had two surprising omissions: Mexico and Canada.

Many countries, including China, were slapped with large reciprocal tariffs on Wednesday. After Trump's announcement, CNBC reported that Chinese goods could receive a 54% tariff when combining the new tariffs (34%) with ones that have been previously announced. European Union goods will be subject to a new 20% tariff.

According to the White House, this doesn't mean the US's neighbors are off scot-free. Pre-existing 25% tariffs on most Mexican and Canadian goods will remain.

USMCA and Trump's previous tariffs

Under Trump's previous order, a 25% tariff was applied to all Mexican and Canadian goods that are not compliant with the United States-Mexico-Canada Agreement.

The White House has said the tariffs are necessary because the two countries are not doing enough to stop illegal immigration and the smuggling of fentanyl into the United States from the northern and southern borders. Leaders of both countries have disputed this claim.

The USMCA trade deal, which replaced the North American Free Trade Agreement in 2020, maintains NAFTA's zero-tariff treatment for most agricultural products, textiles, apparel, and other goods that meet the trade agreement's rules of origin.

Non-compliant energy and potash from the bordering nations remain subject to a 10% tariff; the latter was viewed as the White House bowing to pressure from the farm industry worried about a key ingredient in fertilizers.

Chris Tang, a UCLA professor and expert in global supply chain management and the impact of regulatory policies, told Business Insider the Trump administration's choice to leave Canada and Mexico off the tariffs list on Wednesday may be a symbol that the president recognizes the neighboring nations' significance to the US economy — but it's also likely a negotiation tactic.

"So, for example, right now, the products that comply with the USMCA are still tariff-free," Tang said. "But that's temporary. Trump has said, 'Well, that may adjust.' And that gives him still some wiggle room to negotiate."

If Trump's prior order were terminated, a spokesperson for the White House told Business Insider all non-USMCA compliant goods would be reduced to a 12% tariff.

Margaret Kidd, an instructional associate professor of supply chain and logistics technology at the University of Houston, told Business Insider, "It's not in our best interest for the United States to alienate our two closest trading partners."

She added that there was about $945 billion in trade between Mexico and the US in 2024, with most of the products exchanged flowing through Texas. The tariffs on the southern country, she said, have an outsized effect on the border states, which rely on the local economy built around international trade.

"It's all intermingled," Kidd said.

Tang said he's hopeful that the omission of Canada and Mexico from Wednesday's tariffs could act as a sort of olive branch with the nation's allies to soothe the trade tensions that have increased since Trump took office.

"Really, our economies are interlinked," Tang said. "So, hopefully, they can really sit down and work it out because these are our allies, our neighbors — this is very important. So I hope there is a possibility that these three countries can work together."

Inter Miami will travel to Los Angeles to face LAFC in the first leg of the Concacaf Champions Cup quarterfinal at BMO Stadium on Wednesday.

Nearly two dozen tornado warnings were in effect Wednesday night, from Arkansas to Indiana, with many more expected as an intense storm system moved in, per the National Weather Service.

The big picture: Damage was reported from multiple confirmed tornadoes, with the threat expected to last through the night in the Mid-South and parts of the Midwest and Ohio Valley.

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• In Arkansas, Gov. Sarah Huckabee Sanders declared a state of emergency ahead of the storms to provide funding in response to the severe weather. "We have reports of storm and tornado damage from around the state," she said on X Wednesday night.
• Tornado damage was also reported in Washington County, Missouri, on Wednesday evening.

8:18 PM - Multiple tornado warnings in effect, we are about to shelter in place here at the office!!! pic.twitter.com/l2XDmAucVz

— NWS Paducah, KY (@NWSPaducah) April 3, 2025

Threat level: In addition to tornadoes, rainfall totals from dangerous flooding could reach a few Aprils' worth in just four to five days in the hardest-hit areas.

• The National Weather Service warned of an "increasingly significant setup" with the potential for "catastrophic" flooding in the hardest-hit regions.
• It forecast rainfall totals that could exceed 15 inches in some locations, describing it as an "extreme flooding scenario."
• Forecasters will be closely watching as rains add up in the Mid-South, particularly across northeastern Arkansas, northwestern Tennessee and western Kentucky.

The NWS forecast office in Memphis warned of "Generational flooding" in northwestern Tennessee, saying on X, "This is a rare, high-impact, and potentially devastating event."

State of play: The flooding is only one of this upcoming storm's hazards, as a powerful and slow-moving low-pressure area slides across the Central states and Midwest.

• Severe thunderstorms with the threat of damaging winds and a large-scale, "major" tornado outbreak are forecast on Wednesday and Wednesday night across the Mid-South.
• The Storm Prediction Center is predicting a "high risk" — or level 5 out of 5 on its scale — of severe weather in the mid-Mississippi Valley to the Lower Ohio Valley on Wednesday into Wednesday night, including the threat of "[n]umerous tornadoes, along with multiple long-track EF-3+ tornadoes."
• Cities in the high risk zone include Memphis and Jonesboro, Tenn., with Louisville, Little Rock, Ark., Indianapolis, Evansville, Ind., and Bloomington, Ind., in the moderate risk zone.

As of Wednesday afternoon, tornado watches were in effect for more than a half-dozen states in the Mid-South, including one "Particularly Dangerous Situation" tornado watch that is reserved for the most significant severe weather threats.

Context: Extreme precipitation events are becoming more common and severe due to climate change, as warmer air temperatures hold more moisture.

• A new analysis from the nonprofit research group Climate Central found that heavy precipitation extremes are increasing in frequency in all regions of the country, though there is greater variability at the local levels.
• A marine heat wave in the Gulf of America (renamed by the U.S. from the Gulf of Mexico) and the Caribbean — a phenomenon increasingly tied to climate change — is also a factor, since this area will be the moisture source region for the heavy rainfall.

In another sign of the event's unusual nature, there is the potential for some spots to set records for the amount of precipitable water in the atmosphere.

• This is a way of measuring the precipitation that would result if all of the moisture in a column of air were to condense and fall as rain.

The extreme weather comes amid the Trump administration's push to give states the lead role in disaster response and recovery, potentially dissolving FEMA.

What we're watching: Where the heaviest rainfall sets up, and how severe the ensuing flooding gets.

Editor's note: This a breaking news story. Please check back for updates.

President Trump's announcement Wednesday that the U.S. will impose a baseline 10% tariff on imports, with heavier reciprocal levies on goods from some countries, has left world leaders reeling.

The big picture: The reciprocal tariffs will impact dozens of nations, including some of the country's largest trading partners.

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• Imports from the European Union, Japan and South Korea will be subject to tariffs of 20% or higher.
• Imports from Vietnam will face a tariff rate of 46% and Taiwanese imports will see 32% tariffs.

Between the lines: There were mixed reactions, with some airing on the side of caution while others vowed to challenge Trump's move.

What they're saying:

Canadian Prime Minister Mark Carney vowed to fight the tariffs with countermeasures. "We are going to protect our workers," he said. "In a crisis, it's important to come together and it's essential to act with purpose and with force."

Mexican President Claudia Sheinbaum said the country will "announce a comprehensive program, not a tit-for-tat on tariffs" and plans to "strengthen the economy under any circumstance, per a Reuters translation.

U.K. Prime Minister Keir Starmer, who recently met with Trump at the White House, said he believes it's not sensible to react by jumping into a trade war with the U.S.

• The government put out a statement saying it "is taking a calm and pragmatic approach ... opting not to impose retaliatory measures."

Australian Prime Minister Anthony Albanese said Trump's tariffs have "no basis in logic" and are "not the act of a friend." He called them "totally unwarranted."

Bank of Japan chief Kazuo Ueda said the tariffs could have a large impact on trade activities among nations, per the Japan Times. "It's unfortunate but uncertainties are high so we will be closely watching developments of policies to grasp their economic impacts more precisely," he said.

Spanish Prime Minister Pedro Sánchez vowed to "respond decisively." He said, "Europe will defend itself, we will act swiftly, proportionally and with unity."

Swedish Prime Minister Ulf Kristersson said that while he doesn't want a trade war, he "will continue to take every opportunity to reverse these developments."

Swiss President Karin Keller-Sutter said the country will quickly determine what to do next, and its "long-term economic interests are the priority." She noted, "Respect for international law and free trade are fundamental."

Irish Prime Minister Micheal Martin called the tariffs on the EU "deeply regrettable." He said he strongly believes tariffs benefit no one. "My priority, and that of the government, is to protect Irish jobs and the Irish economy."

Italian Prime Minister Giorgia Meloni, a Trump ally, said she considers the the tariffs a wrong approach. "We will do everything we can to work a deal with the United States, aiming to prevent a trade war that would inevitably weaken the West in favor of other global actors."

Polish Prime Minister Donald Tusk wrote, "Friendship means partnership. Partnership means really and truly reciprocal tariffs. Adequate decisions are needed."

Colombian Minister of Foreign Affairs Laura Sarabia said the move "reorganizes the rules of global trade" and the country will look to continue to diversify markets.

Editor's note: This is a breaking news story. Please check back for updates.

More from Axios:

• A third global recession in 20 years looms
• Trump announces tariffs on uninhabited islands
• Trump's tariffs list is missing one big country: Russia

The Trump administration is moving forward with a plan to close a trade loophole that previously allowed cheap goods from China to avoid tariffs.

Why it matters: Packages valued at less than $800 have enjoyed the "de minimis" exemption from added duties, which has enabled foreign online retailers like Temu and Shein to sell super cheap items to American consumers.

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Follow the money: Trump on Wednesday signed an executive order ending the loophole on shipments from China beginning May 2.

• The president had briefly suspended the duty loophole in the early days of his second term before restoring the exemption while the Commerce Department put together a plan to "fully and expediently process and collect tariff revenue."
• The Commerce Department has since declared that "adequate systems are in place to collect tariff revenue" on low-value international shipments, the White House said Wednesday.

Zoom in: Applicable duties will be attached to shipments under $800 that are sent from China to the U.S. outside of the international postal system, according to the White House.

• Shipments under $800 that are sent through the international postal network will be "subject to a duty rate of either 30% of their value or $25 per item (increasing to $50 per item after June 1, 2025)."

Threat level: Critics of the de minimis exemption say it has bludgeoned American businesses, such as fashion retailer Forever 21, which recently began liquidating its U.S. stores after partly blaming the rise of Shein and Temu for its downfall.

• "The ability for non-U.S. retailers to sell their products at drastically lower prices to U.S. consumers has significantly impacted the Company's ability to retain its traditional core customer base," Forever 21 co-chief restructuring officer Stephen Coulombe said in a court filing.

The other side: Free market think tank Cato Institute argued that eliminating the de minimis exemption means "effectively raising taxes on American consumers and dramatically increasing shipping times."

• Representatives from Temu and Shein did not immediately respond to requests for comment.

• Vice presidents started traveling by plane via Air Force Two in 1959.
• Vice President JD Vance flies in a C-32, a custom military version of a commercial jetliner.
• It features a communications center, stateroom, and 32 seats for journalists.

For vice presidents of the United States, frequent travel is in the job description. Luckily, they get to travel in style.

While traversing the country and the world, Vice President JD Vance flies in a custom C-32 plane featuring an advanced communications center, conference room, and private stateroom.

The plane measures 155 feet long and can fly 5,500 nautical miles without refueling. When Vance is on board, it's known as "Air Force Two."

Take a look inside the vice president's plane.

• Sometimes, a story needs three installments to be told fully.
• Other times, a movie is such a big hit that the story is stretched out over three films.
• Or, in the case of "The Hangover," the same story is told three times in a row.

It's no secret that intellectual property is one of the most important commodities in Hollywood. The top 10 grossing movies of 2024 internationally were all sequels (except for "Wicked," which is based on the Broadway musical).

One of those films, "Deadpool & Wolverine," was the third installment of a much-beloved trilogy of superhero films. It was a huge hit with critics and fans, making $1.3 billion worldwide.

That's the best-case scenario.

Just as often, a series will be let down by its final installment or audiences find it didn't need to be turned into a trilogy at all. In one case, a series wasn't even supposed to be a trilogy, but the third film performed so poorly that the fourth film never materialized.

Here are the worst, most unnecessary trilogies in movie history.

• Global markets plummeted after Trump announced sweeping tariffs on all trading partners.
• Wall Street is already hurting after its worst quarter since 2022 amid tariff whiplash.
• Gold hit new highs as investors looked for safe havens amid the uncertain impact of an escalating trade war.

Global markets tumbled Wednesday after President Donald Trump unveiled his long-anticipated tariffs in an address at the White House Rose Garden, sending shockwaves through stock indexes and hammering shares of companies reliant on global supply chains.

US stock futures, which indicate the direction of the market once regular trading commences on Thursday, reacted instantly. S&P 500 futures dropped 3.5%, while Nasdaq 100 futures tumbled more than 4.3%. Dow Jones Industrial Average futures cratered as much as 1,000 points.

Fueled by anxiety over Trump's often on-again, off-again tariff policy, Wall Street is already licking its wounds after wrapping up the worst quarter since 2022.

The market climbed slightly ahead of Trump's "Liberation Day" tariff announcements, with investors eyeing the potential for a milder approach to trade policy. But they were caught off guard by the scope of a blanket 10% tariff on all trading partners, alongside what Trump labeled as "kind reciprocal" tariffs exceeding 20% on some countries.

Share of companies reliant on global supply chains were hit hard.

In after-hours trading, shares of Apple Walmart, and Nike dropped 7%, while Amazon fell 6%. Nvidia, which relies on overseas manufacturing for some of its advanced chips, was down almost 6%.

Regarding the after-hours market reaction, CNBC host Jon Fortt said he had "never seen anything like it."

"This — I think, fair to say — is worse than the worst-case scenario of the tariffs that many in the market expected the president to impose," said Fortt.

Gold hit a new record of nearly $3,160 an ounce as bullion — one of the few commodities exempted from the tariffs, according to a White House factsheet — rose as much as 0.8% at Thursday's open in Asia. Investors have flocked to the precious metal in 2025 in a flight to safety amid rising macroeconomic uncertainty.

Mexico and Canada were not hit with any fresh tariffs, though previous ones remain in place. Goods from Mexico and Canada that meet the requirements of the USMCA trade agreement will also generally still be exempt from tariffs, with the exception of auto imports, as well as steel and aluminum, which are subject to earlier tariffs implemented in March.

It's unclear how the administration calculated the tariffs other countries impose on the US, or if the tariffs are truly "reciprocal." There is no official record showing the European Union has a 39% tariff on US goods, or that Japan has a 46% duty on products from the US, among the dozens of other figures unveiled Wednesday.

Find out if the Pistons' star guard will be on the court against the Thunder on Wednesday.

The measure was passed in the Senate Wednesday night and now heads to the House, where it has an unlikely chance of approval.

The Spear is one of the most common finishing moves in WWE today. Let's take a look at which Superstars are the best at executing the devastating attack.

Senate Republicans doubted President Trump would follow through on tariffs. Now they're having to swallow them whole.

Why it matters: Trump has yoked his party, the economy and himself to a protectionist trade policy.

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• Skeptical Republicans are willing to give Trump some time to prove that across-the-board tariffs can lead to an American manufacturing renaissance — but not too much time.
• Senate GOP leader John Thune, from export-heavy South Dakota, said: "I do appreciate the president's focus on making sure that we're getting better deals and giving businesses an incentive to do business here."

Zoom in: GOP senators bargained with him on tariffs, but Wednesday was about acceptance.

• Sen. John Kennedy (R-La.): "In the long run, I think it will work. But as I've also said, in the long run, we're all dead. The short run matters too."
• Sen. John Hoeven (R-N.D.): "Hopefully the short-term disruption is truly short term, like less than a year, and the long-term benefits are real and lasting."
• Sen. Ron Johnson (R-Wis.): "I think it's kind of a high-risk bet he's making on the economy. I think the stock market thing is somewhat high risk. He may be right."
• Sen. Thom Tillis (R-N.C.): "I'll probably start getting calls from constituents tomorrow. I've already gotten some outbound communications tonight," he told Axios on Wednesday night.

Between the lines: During the campaign last summer, Republicans argued Trump wasn't all that serious about across-the-board tariffs.

• Once he was elected, they insisted Trump just liked them as a negotiating tactic.
• In August, Sen. Cynthia Lummis (R-Wyo.) told us: "I don't know if across-the-board truly means across-the-board."
• On Wednesday, she told us: "I think he came up with a reasonable compromise between across-the-board, using the 10% number, but identifying certain trade partners where the tables are really tipped against the U.S."

The other side: Four GOP senators broke with Trump and voted for a symbolic resolution to unwind his 25% tariff on Canadian imports.

• House Democrats plan to attempt to force a vote on the resolution, Axios reported Wednesday.

• Tejas Vijh navigated visa challenges to secure a venture capital role in the US.
• Visa sponsorship is rare in venture capital, and many international students stick to Big Tech.
• He feels more secure about his job at a small firm than his peers at Big Tech companies.

This as-told-to essay is based on a conversation with Tejas Vijh, an employee at a venture capital firm based in Indianapolis, Indiana. It has been edited for length and clarity. Business Insider has verified his employment and visa history.

After I completed my bachelor's in computer science in India, a series of internships and connections led me to a role at a very early-stage venture capital firm. I loved the job and the research it involved.

Seven months into working at the firm, I wanted the exposure of living and working abroad. I got into a business analytics master's program at Columbia University and moved to New York City in 2022.

Right off the bat, I figured out that venture was not a typical career path for international students, including MBA and business majors, for one main reason: visa sponsorship issues. I interned at two places in the summer, and both said they wouldn't be able to sponsor my long-term visa, even though they liked my performance.

When I started researching the job market after graduation, I could not find a single person in the industry who was an immigrant, which was really demotivating. But I was convinced that I wanted to work in healthcare or climate tech and decided to keep going.

As a Science-Technology-Engineering-Math graduate, I am allowed a three-year work permit called the Optional Practical Training visa. It's seen as a pathway to securing an H-1B — a visa for highly skilled foreign workers.

500 cold emails

Using software called PitchBook, a venture capital database, I downloaded a list of 2,000 firms. I started emailing them personalized notes. I pitched myself but did not mention my visa situation.

Many firms replied to me even though they weren't hiring, and I met people for coffee and built connections.

I started getting some interviews by my 200th email.

By my 500th email, I had two offers — one from a larger firm that told me they could not sponsor my H-1B but that I could join them for my three years of OPT, and another from my current firm, where our managing partner took time to understand my visa requirements and the support I would need from them. I told him how I'm loyal and I will stay where I go. My firm has three partners, and I'm the only employee.

The advantages of a small company

I did not get my H-1B visa last year, but my visa was selected as part of this year's lottery last week. My firm has also been supportive and has helped me explore alternative routes like the O-1 visa or the EV-1, which are visas for extraordinary talents in the event my H-1B did not come through.

Some of the recent changes around H-1B also give me a lot of hope, since they are focused on making the process fairer. The US immigration authorities have reported fewer entries into the lottery this year compared to 2024. Elon Musk, who is working with President Donald Trump's administration, has also publicly supported the H-1B program.

I'm grateful I decided to join a small company over a Big Tech company, where a lot of my classmates from my master's and family members work. Large companies are traditionally seen as more stable and a safer bet for visa holders, but as layoffs sweep the tech industry, this mindset is changing. I have family members who are always on edge about when they may lose their jobs and be forced to quickly pack up and leave the US because their stay depends on their employment.

I believe my partners will honestly give me a heads-up if we need to cut employees. The firm is also heavily involved in helping me find alternative visas, which is not always a service provided by large firms. It adds to my peace of mind.

Two playoff-bound teams will face off in Oklahoma City, with the Detroit Pistons facing the team with the NBA's best record, the Oklahoma City Thunder.

Nebraska and Georgetown take the court at the MGM Grand Garden Arena in Las Vegas for a quarterfinal matchup in the College Basketball Crown Tournament.

A truly enormous shock is needed to tip the entire global economy into recession. Since World War II, there have been two such events — the financial crisis of 2008-9, and the COVID-19 pandemic of 2020.

Why it matters: Trump's "Liberation Day" tariffs, if they're kept in place and especially if they face retaliation from targeted nations, could be the third such economic earthquake in 17 years.

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Follow the money: The U.S. imported $3.3 trillion of goods in 2024 — that's more than $25,000 per household.

• If the new tariffs work out to an average of 29%, per Evercore, then U.S. importers would have to pay about $1 trillion in tariffs per year, or $7,300 per household.
• Realistically, that would never happen — many goods will just not get imported any more, creating shortages and large price hikes.
• But if U.S. imports plunge, that would remove a key driver of the global economy, especially for export-dependent countries like Germany and China.

Zoom in: The 54% tariff on imports from China is particularly punitive.

• China exports plenty of high-tech goods like iPhones, but it's also the engine that provides affordable goods to millions of financially stretched families on low incomes.
• As such, the China tariff alone could cause a significant increase in poverty.

Zoom out: The past 75 years or so of globalization have created a complex web of interdependent economies — which explains sayings like "when the United States sneezes, Latin America catches pneumonia."

• If U.S. tariffs cause our major trading partners to slide into recession, that would devastate U.S. exports — $2.1 trillion for goods last year, plus another $1.1 trillion in services. And that's even before those partners start implementing retaliatory tariffs.
• "This is a game changer for the global economy," wrote Fitch economist Olu Sonola in a note Wednesday.
• "Many countries will likely end up in a recession."
• Others agreed. "These policies, if sustained, would likely push the US and global economy into recession this year," wrote JPMorgan analysts in a note on Wednesday.

Between the lines: Global stocks fell sharply on the Trump announcement — but not as much as they would if they believed these tariffs will be fully implemented and will be here to stay.

• "One lesson from the first few months of the Trump presidency is that you have to let news cure a little before you take it seriously," Matthew Hougan, chief investment officer at Bitwise Asset Management, tells Axios.

The bottom line: It's almost impossible to overstate the sheer magnitude of the announced tariffs — and the degree to which they could devastate the global economy.

• Whether they really get implemented, however, remains to be seen.

Brady Dale contributed.

• The Senate voted to block Trump's Canada tariffs — right after his "Liberation Day" tariff event.
• It's a largely symbolic vote, and Trump's tariff power won't be restricted.
• Still, it's an embarrassment that Trump tried to avoid.

Just hours after President Donald Trump unveiled a host of new tariffs, the GOP-controlled Senate voted to block a major part of his trade agenda.

The Senate passed a resolution to terminate the national emergency that Trump declared on February 1 that enables him to enact tariffs on Canada. The bill is not expected to be taken up by the House, so Trump's ability to impose tariffs on Canada won't be affected.

Still, it's an unwelcome symbolic rebuke of the president's trade agenda, coming on what he had dubbed "Liberation Day."

It was a 51-48 vote, with every Democratic senator voting for the bill, along with four Republicans:

• Sen. Susan Collins of Maine
• Sen. Mitch McConnell of Kentucky
• Sen. Lisa Murkowski of Alaska
• Sen. Rand Paul of Kentucky

Republican Sen. Roger Marshall of Kansas was not present for the vote.

Paul, a libertarian Republican who's consistently spoken up in support of free trade, even co-sponsored the resolution, which was introduced by Democratic Sen. Tim Kaine of Virginia.

"Tariffs on Canada will threaten us with a recession," Paul told reporters on Wednesday. "I mean, it's a terrible, terrible idea."

Collins, who faces a competitive reelection fight in 2026, cited her state's reliance on trade with Canada in a floor speech earlier on Wednesday.

"The Maine economy is integrated with Canada, our most important trading partner," Collins said. "The tariffs on Canada would be detrimental to many Maine families and our local economies."

While Murkowski isn't up for reelection next year, her state is also reliant on trade with Canada, and she hasn't been shy about criticizing Trump and his administration. McConnell, the former Senate GOP leader, has also been critical of Trump's tariff plans.

Earlier on Wednesday, Trump announced a 10% baseline tariff on imports from all foreign countries, plus higher reciprocal tariffs on a long list of other countries and a 25% tariff on foreign auto imports.

Trump did not announce new tariffs on Mexico or Canada, and the White House said that there will continue to be no tariff on goods that comply with the United States-Mexico-Canada Agreement.

At a press conference on Tuesday, Kaine and other Democratic senators said that tariffs on Canada specifically didn't make sense, given the country's longtime alliance with the United States.

"The President has justified the imposition of these tariffs on, in my view, a made-up emergency," Kaine said. "The fentanyl emergency is from Mexico and China. It's not from Canada."

In an early morning Truth Social post on Wednesday, Trump said that he hoped that the GOP senators who planned to vote for the anti-tariff resolution would "get on the Republican bandwagon, for a change."

"They are playing with the lives of the American people, and right into the hands of the Radical Left Democrats and Drug Cartels," Trump wrote. "The Senate Bill is just a ploy of the Dems to show and expose the weakness of certain Republicans."

That argument may have won over some Republicans who are otherwise suspicious of tariffs, such as Sen. Ron Johnson of Wisconsin.

"I'm not going to support their attempt to damage Trump," Johnson told reporters.

When asked about Trump's argument, Paul was undeterred.

"I would argue that tariffs, particularly that leads to a recession, are devastating politically," Paul said.

• Rumors swirled Wednesday that Elon Musk may leave his role at the White House DOGE Office.
• After Politico's report, BI heard from 16 federal workers about what his departure would mean.
• The Trump administration and Musk both denied his exit on X, and workers say it doesn't make a difference anyway.

Even if Elon Musk is eyeing the exit, federal workers say the anxiety and financial chaos DOGE caused will stick with them long after his tenure ends.

After Politico reported that the world's richest man might be leaving his post as the de facto leader of the White House DOGE Office soon, Business Insider spoke with 16 current and recently fired federal employees who are left wondering what it means for the future of their agencies — while most are crystal clear about their distaste for Musk himself.

"Obviously, my reaction is good riddance," an employee at the Office of Personnel Management said. Employees requested anonymity for fear of retaliation or because they were not authorized to speak, and BI has verified their identities.

Musk has been a vocal advocate of firing federal employees and slashing government budgets. Some federal workers who voted for Trump previously told BI that they support efforts to make the government more efficient but feel "betrayed" by widespread job cuts and upset by Musk's role.

The White House has denied that Musk plans to step back from the cost-cutting effort, directing BI to a post on X by Press Secretary Karoline Leavitt: "Elon will depart from public service as a special government employee when his incredible work at DOGE is complete." No timeline was given. Representatives for DOGE did not respond to a request for comment from BI, and Musk said on X, "Yeah, fake news."

As a special government employee, Musk is only legally allowed to work for the government for at most 130 days a year. Most employees BI spoke to doubted that a quicker departure would make much of a difference.

Five current and former employees told BI that they think Musk will still influence the DOGE office's operations, even if he technically gives up his government role. As one put it, he'll still "pull the puppet strings — whether inside the White House or out of it."

Others said they didn't see much daylight between Musk and his allies, like Office of Management and Budget Director Russell Vought and young DOGE office staffers.

"I'm assuming he's getting out sooner because this has cost him and his businesses far more than he anticipated, for which I am glad. I hope he never fully recovers," a NOAA employee said.

The Politico report comes as Tesla stock has fluctuated amid Musk's growing power in the West Wing. The company's reported first-quarter deliveries were well below analysts' estimates, and shares are down roughly 30% this year. Even as the president has championed Tesla on the White House lawn, owners of the vehicles have been putting them up for sale in droves. Just yesterday, a conservative judge lost a key election in Wisconsin — despite getting more than $12 million from Musk's PAC.

At a town hall on Sunday, Musk said that his role in the Trump administration is "costing me a lot." Meanwhile, some federal employees are skeptical he'd leave his government influence behind.

"Maybe on paper, they'll say someone else is in charge, but in reality, it will still be Musk," an IRS employee said. An employee at NASA predicted that Musk would simply use X to "pressure anyone not doing what he wants."

Eight employees said they hoped the news was true. Yet many of those who welcomed Musk's departure also said that DOGE has already made a significant, enduring mark on the federal government.

After so many firings, an employee at the Institute of Museum and Library Services said Musk's departure "would be a hopeful sign to keep the federal workforce afloat, but so much damage has already been done. We need more people to proactively help us rather than just wait around for him to leave."

Noah Sheidlower and Ayelet Sheffey contributed reporting.

Have a tip? Contact these reporters via email or Signal at [email protected] or alicetecotzky.05; [email protected] or alliekelly.10; [email protected] or julianakaplan.33. Use a personal email address and a nonwork device; here's our guide to sharing information securely.

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