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DealBook: Countdown to China trade talks
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May 7, 2025
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Good morning. Investors and business leaders have been anxiously awaiting some kind of letup in President Trump’s trade war with Beijing. There’s none in sight, but at least the two sides have set a date for talks. We break down the latest below. (Was this newsletter forwarded to you?
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Knock, knock. Who’s there? Treasury Secretary Scott Bessent is set to head to Switzerland this weekend for trade talks with Chinese counterparts.
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Icebreaker
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The S&P 500 looks set to break a two-day losing streak as Washington and Beijing say that trade talks between the two
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are finally on
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, scheduled for this weekend in Switzerland. The news comes as investors await today’s Fed decision on interest rates.
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But there continue to be signs that markets shouldn’t expect a quick break from President Trump’s trade war.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Treasury Secretary Scott Bessent said that the focus of the talks, which will involve Jamieson Greer, the United States trade representative, and He Lifeng, China’s vice premier for economic policy, would be more about de-escalation than achieving immediate tariff relief.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
A reminder:
</span>
<span>
Bessent, who has become the point person in negotiations, has said that it
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
could take up to three years
</a>
<span>
to achieve a full deal. But pressure is mounting as the escalating tariff fight has created, in Bessent’s words, “
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
the equivalent of an embargo
</a>
<span>
” between the two countries.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
“We don’t want to decouple” with China, Bessent told Fox News. “What we want
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
is fair trade
</a>
<span>
.” (China, meanwhile, has to contend with a slowing economy: The People’s Bank of China
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
cut short-term interest rates
</a>
<span>
today as part of a raft of stimulus measures.)
</span>
</p>
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<td height="20">
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</table>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
Trump is also playing down hopes for a quick resolution.
</span>
<span>
“Stop asking, ‘how many deals have you signed this week?’,” he
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
told reporters in the Oval Office yesterday
</a>
<span>
, with Prime Minister Mark Carney of Canada, another trade partner in limbo, sitting next to him.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
With little progress on trade agreements imminent, Trump also brushed off previous comments about how quickly he could sreach them: “
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
We don’t have to sign deals
</a>
<span>
,” he said, insisting that the pressure is on other countries to strike a bargain with the United States. (He also at times appeared to redefine “deals” as simply his administration’s unilateral demands.)
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
Business leaders would disagree.
</span>
<span>
A parade of companies, including the toymaker
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
Mattel
</a>
<span>
and the consumer products giant
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
Procter & Gamble
</a>
<span>
, have warned that they are at least weighing price increases if the levies stick.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
That’s putting the Fed in a tight spot.
</span>
<span>
The central bank today is
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
widely expected to leave interest rates unchanged
</a>
<span>
as inflation remains well above its 2 percent target and economists warn that trade-war fallout could push it higher.
</span>
</p>
<table border="0" cellpadding="0" cellspacing="0" style="width:100%">
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</td>
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<td>
<div style="width:100%;text-align:center;line-height:0">
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<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
Standing pat could draw the ire of Trump, who has repeatedly criticized the Fed for holding steady while other central banks cut borrowing costs. The president recently called Jay Powell, the Fed chair, “
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
a major loser
</a>
<span>
,” and said it would be his fault if the economy were to slow.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
Powell will likely face questions about tariffs and Trump at today’s news conference.
</span>
<span>
In March, the central bank’s chair struck a dovish tone, saying that tariffs would likely amount to just a “transitory” shock. But with so many businesses warning about tariffs volatility — especially on their spending and hiring plans — will he and other Fed policymakers change their assessment?
</span>
</p>
<div style="margin:0 auto;max-width:600px;width:100%">
<table>
<tbody>
<tr>
<td style="padding:0 0 5px">
<ul class="css-1dtd48z" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
In related news: Kevin Rudd, Australia’s ambassador to the U.S., offered a potent argument against American tariffs on foreign-made films: “
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
I don’t think we want to see a tax on Bluey
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
,” referring to the hit children’s cartoon.
</span>
</li>
</ul>
</td>
</tr>
</tbody>
</table>
</div>
<table width="100%">
<tbody>
<tr>
<td class="css-36ugzx" style="padding-bottom:15px">
</td>
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<td style="border-top:1px solid #dcdcdc;padding-bottom:15px">
</td>
</tr>
</tbody>
</table>
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<tbody>
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<td height="30">
</td>
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<td style="padding:0;font-size:0;border-top:8px solid #000">
<h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
<span>
HERE’S WHAT’S HAPPENING
</span>
</h3>
</td>
</tbody>
</table>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
The Justice Department calls for a Google ad business breakup.
</span>
<span>
Prosecutors urged the federal judge overseeing an antitrust case against the tech giant to
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
order the sale
</a>
<span>
of the ad marketplace AdX and the ad platform DFP to reduce the company’s control of the market. It’s the latest effort by federal regulators to break up Google, with the Justice Department asking a judge in a separate case to force the sale of the Chrome web browser.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
SpaceX wins permission to launch more rockets in Texas.
</span>
<span>
The F.A.A. said that Elon Musk’s company can launch its huge Starship from its Starbase complex in Texas
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
up to 25 times a year
</a>
<span>
, five times more than the previous limit. It’s a victory for SpaceX, which has sought to send more rockets into space. The company also
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
stands to benefit
</a>
<span>
if Congress approves President Trump’s budget outline.
</span>
</p>
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<tbody>
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</td>
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<td>
<div style="width:100%;text-align:center;line-height:0">
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<span style="text-align:center">
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<tbody>
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<td style="line-height:0;font-size:0">
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</td>
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</table>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
OpenAI reportedly plans to cut revenue sharing with Microsoft.
</span>
<span>
The ChatGPT creator told investors that it aims to
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
halve the percentage of sales
</a>
<span>
that it pays to Microsoft to 10 percent from 20 percent by 2030, according to The Information. OpenAI’s new target comes as it pursues a
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
corporate reorganization
</a>
<span>
— one that Microsoft must sign off on.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
An Israeli spyware company is ordered to pay Meta $167 million.
</span>
<span>
A federal jury in California awarded Meta
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
damages from the NSO Group
</a>
<span>
, whose Pegasus software was used to hack 1,400 WhatsApp accounts belonging to journalists, human-rights activists and government officials. NSO plans to appeal, but the company has already been blacklisted by the U.S. Commerce Department.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
Republicans plan to expand a college pressure campaign beyond the Ivy League.
</span>
<span>
Presidents of schools including Haverford College and DePaul University are
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
set to testify today
</a>
<span>
before the House Education Committee about their efforts to combat antisemitism, suggesting that Republicans aren’t stopping at elite schools. Separately, universities including Harvard and Princeton are seeking to
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
sell stakes in private equity funds
</a>
<span>
on the secondary market as they face funding pressures, including from President Trump.
</span>
</p>
<table border="0" cellpadding="0" cellspacing="0" style="width:100%">
<tbody>
<tr>
<td height="10">
</td>
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<td height="8" style="background-color:#000;font-size:0;line-height:0" width="100%">
</td>
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<td height="20">
</td>
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<p style="color:#000;font:700 12px/15px arial,sans-serif;padding-bottom:2px;letter-spacing:.8px;margin:0">
DEALBOOK SERIES: HOW TARIFFS ARE AFFECTING U.S. BUSINESSES
</p>
<h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
<span>
‘Tariffs have never worked unless you want to punish your own population’
</span>
</h2>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
We asked DealBook readers how tariffs have affected their companies. Today, we’re featuring a response from Thomas Johns, an owner of
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
National Roofing
</a>
<span>
, a private business based in Albuquerque that installs and repairs roofing for commercial clients, such as government and military buildings, hospitals, airports, manufacturing centers, data communications buildings and other facilities.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
The business generates as much as $20 million a year and employs between 100 and 150 people.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
He writes:
</span>
</p>
<p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
<span>
I started this company 50 years ago. I left the day-to-day running of the business, but I’m still an owner. Tariffs directly affect only 1 percent to 2 percent of products we provide in our roofing business. But the uncertain economic conditions have forced our clients to change their posture from growth and renovation programs to a no-spending mode.
</span>
</p>
<p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
<span>
That means our costs are ultimately two to five times higher because we’ve had to absorb more risk. We’ve stockpiled material that we may not be able to sell since it appears our clients will pull back on their spending.
</span>
</p>
<p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
<span>
That’s what we saw during the pandemic and we’re seeing it again. Back then, we kept our people on the payroll even with the pullback in jobs. We lost $2 million in two years to keep everyone employed. That was to keep families fed and able to get vaccinations. We were buying lunches.
</span>
</p>
<p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
<span>
While most of the products we use are made in this country, most of our tools are manufactured overseas. For example, a critical robotic welder we use will go from $10,000 to $30,000 — who can afford that?
</span>
</p>
<p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
<span>
There’s also been an issue with manufacturers withholding supplies to drive up prices, something we saw during Covid. We ended up taking a hit of $5 million to $12 million because of that. We expect more of that again.
</span>
</p>
<p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
<span>
Right now, I’d say the situation has added an additional 10 to 20 percent to our costs. That of course could get much worse. We do everything we can to not pass on price increases. But that is cutting into our margins.
</span>
</p>
<p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
<span>
The other difficulty is in our federal contracts. Most of our economy in this part of New Mexico is driven by government dollars with all the air force bases around here and national laboratories such as the Los Alamos National Laboratory. But the Federal government can be deceptive in its contracts with vendors like us. You sign an agreement to do the project for X dollars, and it’s etched in stone. That’s all you’re getting. If our costs go up, there’s no recourse.
</span>
</p>
<p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
<span>
Tariffs have never worked unless you want to punish your own population — which is what this is doing.
</span>
</p>
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<p style="color:#000;font:700 12px/15px arial,sans-serif;padding-bottom:2px;letter-spacing:.8px;margin:0">
DEALBOOK WANTS TO HEAR FROM YOU
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-style:italic">
We’d like to know how the tariffs are affecting your business. Have you changed suppliers? Negotiated lower prices? Paused investments or hiring? Made plans to move manufacturing to the U.S.? Or have the tariffs helped your business? Please
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-style:italic">
let us know what you’re doing
</a>
<span style="font-style:italic">
.
</span>
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<span class="css-1hnedf7" style="color:#666;font:normal 12px georgia,serif">
Barry Diller addressed years of speculation about his sexuality in his new memoir “Who Knew.”
</span>
<span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:5px">
Mike Segar/Reuters
</span>
</span>
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</table>
<h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
<span>
“I hated having to live a pretend life, one that was totally silent on all the topics normal people talked about with each other. Of course I could have declared my sexuality, come out as some others were doing, but I was among the many at that time who were too scared to do so.”
</span>
</h2>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-style:italic">
— Barry Diller, the media titan who once ran Paramount and Fox and is now at IAC,
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-style:italic">
addressing
</a>
<span style="font-style:italic">
his sexuality
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-style:italic">
in his memoir
</a>
<span style="font-style:italic">
, “Who Knew,” in which the 83-year-old discusses his “fear of exposure” about being gay, and describes his lifelong partnership with Diane von Furstenberg as “the miracle of my life.”
</span>
</p>
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<h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
<span>
Blackstone’s president donates $125 million to Tel Aviv medical school
</span>
</h2>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
As Israel faces a doctor shortage, Jonathan Gray, the president of the investment giant Blackstone, and his wife, Mindy,
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
are donating $125 million
</a>
<span>
to Tel Aviv University’s health science and medical school.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
The donation, made through the Grays’ foundation, is the largest the university has ever received, Lauren Hirsch reports.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
Israel desperately needs more doctors.
</span>
<span>
As of 2020, the number of physicians per capita in the country was about 10 percent below the
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
average of countries in the Organization for Economic Corporation and Development
</a>
<span>
. A limited medical training capacity, along with an aging population, have contributed to the shortage.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
The school will be renamed the Gray Faculty of Medical and Health Sciences.
</span>
<span>
The Grays’ donation is expected to increase enrollment, in part by allowing the medical school to add more students each quarter. It will also support, among other things, a new 600-bed dormitory, scholarships and new teaching facilities.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
The donation is expected to help the university double the number of Arab Israeli students in medical school specifically, by offering scholarships and discounted housing in the school’s new dormitories.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
The Grays’ gift is a response to the Oct. 7 attack on Israel.
</span>
<span>
Both American Jews, the Grays say they feel a connection to Israel. The attack “awakened a need to express that connection in a far more concrete way,” Jon Gray said in a statement.
</span>
</p>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span>
“We can think of no better way to accelerate healing,” the Grays said, “than by supporting an institution that touches the lives of so many.”
</span>
</p>
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We hope you’ve enjoyed this newsletter, which is made possible through subscriber support.
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<h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
<span>
THE SPEED READ
</span>
</h3>
</td>
</tbody>
</table>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
Deals
</span>
</p>
<div style="margin:0 auto;max-width:600px;width:100%">
<table>
<tbody>
<tr>
<td style="padding:0 0 5px">
<ul class="css-1dtd48z" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
Announced deals fell to their
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
lowest level in 20 years
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
last month, after President Trump announced his flurry of tariffs on “Liberation Day.” (Reuters)
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
The family offices of Jeff Bezos and Michael Dell committed a combined $1 billion to a
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
new fund by Coatue Management
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
that will invest in high-growth public and private tech companies. (WSJ)
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
Uber agreed to buy
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
control of Trendyol
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
, an Alibaba-owned Turkish delivery app, as it appears ready to
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
clash with DoorDash
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
in Europe. (Bloomberg, The Information)
</span>
</li>
</ul>
</td>
</tr>
</tbody>
</table>
</div>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
Tech and artificial intelligence
</span>
</p>
<div style="margin:0 auto;max-width:600px;width:100%">
<table>
<tbody>
<tr>
<td style="padding:0 0 5px">
<ul class="css-1dtd48z" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
<li style="margin:0 0 10px 0;line-height:27.5px">
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
Shares in Palantir tumbled 12 percent
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
yesterday after analysts questioned the data company’s international growth prospects. (CNBC)
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
“Leaked docs show how Meta’s AI is trained
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
to be safe, be ‘flirty,’ and navigate contentious topics
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
” (Business Insider)
</span>
</li>
</ul>
</td>
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</table>
</div>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
Politics, policy and regulation
</span>
</p>
<div style="margin:0 auto;max-width:600px;width:100%">
<table>
<tbody>
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<td style="padding:0 0 5px">
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<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
In federal appointment news:
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
The Senate confirmed Frank Bisignano
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
, the former Wall Street executive, as commissioner of the Social Security Administration, and the U.S. Postal Service’s board is expected to name
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
David Steiner
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
, a FedEx director, as postmaster general. (NYT)
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
Democrats
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
excoriated Representative Bruce Westerman
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
, Republican of Arkansas, for buying shares in companies overseen by a House committee that he leads. (Politico)
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
Drew Warshaw, a housing nonprofit executive, is seeking to
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
unseat Tom DiNapoli
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
as New York State’s comptroller, which oversees a $273 billion pension fund. (Politico)
</span>
</li>
</ul>
</td>
</tr>
</tbody>
</table>
</div>
<p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
<span style="font-weight:700;font-family:arial,sans-serif;color:#000">
Best of the rest
</span>
</p>
<div style="margin:0 auto;max-width:600px;width:100%">
<table>
<tbody>
<tr>
<td style="padding:0 0 5px">
<ul class="css-1dtd48z" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
“TikTok, Facing a U.S. Ban, Tells Advertisers:
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
We’re Here and Confident
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
” (NYT)
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
Why the economist Ken Rogoff, who foresaw economic turmoil under a second Trump administration, thinks the president is a “
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
coffeehouse chess player
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
.” (Semafor)
</span>
</li>
<li style="margin:0 0 10px 0;line-height:27.5px">
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
In
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
his new memoir
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
, the restaurant entrepreneur Keith McNally
</span>
<a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
opens up
</a>
<span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
about his buzzy dining empire, his obsession with customer service and the lowest point of his life. (WSJ, NYT)
</span>
</li>
</ul>
</td>
</tr>
</tbody>
</table>
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Thanks for reading! We’ll see you tomorrow.
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