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The Trump administration is keen to strike deals as it dangles an extension to trading partners. But it’s also issuing threats to some of them.

President Trump said “UNITED STATES TARIFF Letters” are set to go out at noon Eastern time today to America’s trading partners.Eric Lee/The New York Times

Andrew here. Hope you had a great July 4 weekend. This Monday is turning out to be especially busy: President Trump has a new trade deadline — and is threatening to return tariff levels on countries that don’t meet it to the astronomical levels proposed in April. My colleagues and I are looking at whether that threat is real.

And Elon Musk says he is starting a new political party and is criticizing Trump again (and is even making new, veiled references to Jeffrey Epstein.) We dive into all of it

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