Monday morning news: May 5, 2025

Trump on China trade war » President Trump, in a weekend interview with NBC’s Meet the Press, defended that ongoing trade war with China.

The president acknowledged that there could be some short-term pain for U.S. consumers, but he said of China:

TRUMP:   They're getting absolutely destroyed. Their factories are closing, their unemployment is going through the roof. I'm not looking to do that to China. Now. At the same time, I'm not looking to have China make hundreds of billions of dollars and build more ships and more army tanks and more airplanes.

He said the U.S. economy will remain strong. He said there are plenty of experts on Wall Street who believe the same.

The S&P 500 finished last week on a nine-day win streak after earlier losses tied to tariff anxiety.

The federal jobs report came in stronger than expected on Friday.

Mike Waltz ambassador nomination reaction » Lawmakers are weighing in on a shakeup in the Trump administration last week.

President Trump removed Michael Waltz as national security advisor but nominated him to be the next US ambassador to the UN.

Republican Congressman Mike Turner:

TURNER:  Mike Waltz, it is, it, you know, has an incredible background and experience, and I'm certainly glad that he's gonna be retained and staying in a strong role in this administration.

But Democratic Sen. Tammy Duckworth feels differently. She cited Waltz’s role in accidentally looping a reporter in on a sensitive national security discussion using the encrypted messaging app Signal.

DUCKWORTH:  He's not qualified for the job, um, just by nature of the fact that he participated in the signal chain. In fact, I think everybody on that signal chain needs to be fired.

With Waltz’s departure from the White House, Marco Rubio will serve in a dual role as both secretary of state and acting national security advisor.

Stefanik weighing gubernatorial campaign in NY » New York GOP Congresswoman Elise Stefanik had been nominated for that ambassadorship. But she stepped at the request of the White House due to concerns about Republicans' razor thin House majority.

Now Stefanik is strongly considering a gubernatorial bid to unseat Democratic Gov. Kathy Hochul in New York.

STEFANIK:  Look at the crises that Kathy Hoel and single party Democrat rule have delivered to New Yorkers, and this has been over the period of decades. We have an economic crisis and affordability crisis. If you look, we are the highest tax state in the nation.

Democrats say she’s too closely aligned with President Trump’s agenda to be elected in New York.

Israel vows response to Houthi attack » Israeli Prime Minister Benjamin Netanyahu is vowing to retaliate after a missile attack by Iran-backed Houthi rebels in Yemen.

NETANYAHU:  Obviously we're being challenged. The whole world is being challenged by the Houthis, including in the, uh, dastardly attack they did today near Ben-Gurion Airport. We will not tolerate it. We will take very strong action against them.

A missile strike near Israel’s main international airport halted flights and commuter traffic Sunday. At least eight people were injured.

The attack came hours before Israeli Cabinet ministers were set to vote on whether to intensify military operations in Gaza. The army has begun to call up tens of thousands of reserves in preparation for an expanded assault.

Ukraine peace talks, minerals deal » Meantime, talks continue in an effort to bring an end to the war in Ukraine.

Ukrainian Ambassador to the U.S. Oksana Markarova told CBS’ Face the Nation:

MARKAROVA:  US has been and is a strategic partnership. Uh, we are really grateful to American people. For all the support that we are getting from the U.S.

But Moscow appears no closer to agreeing to a ceasefire deal.

A weekend Russian drone attack in Kyiv reportedly wounded 11 people, including two children.

Markarova also Ukraine is happy to have agreed with the US on a new deal that will allow the United States access to rare earth minerals in Ukraine.

MARKAROVA:  This is an economic partnership agreement, uh, to create an investment fund to, for both of our nations, to benefit from amazing investment opportunities that Ukraine has.

Ukrainian leaders hope the US presence on the ground in those mining operations will deter attacks.

Australian prime minister wins reelection » Australia’s Prime Minister Anthony Albanese over the weekend won reelection to a second three-year term.

ALBANESE:  Australians have chosen the Australian Labor Party as their government, and our government will choose the Australian way … because we are proud of who we are and all that we have built together in this country.

Albanese’s left-of-center Labor Party won an emphatic victory, easily capturing a majority in the country’s House of Representatives.

Opposition leader Peter Dutton lost his parliamentary seat. His coalition was reduced to 37 seats.

I'm Kent Covington.

This is The World and Everything in It.

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