What we covered here
• More tariffs: President Donald Trump said this evening he will increase tariffs on foreign steel to 50%, doubling the current rate. The president made the announcement at a Pennsylvania steel plant, where he is touting a new partnership between US Steel and the Japan-based Nippon Steel.
• Musk’s departure: Trump and Elon Musk spoke in the Oval Office earlier today as the tech billionaire’s formal government role ends, with Trump heaping praise on Musk’s work to overhaul government spending and both men indicating Musk will still serve as an informal adviser. The Tesla CEO has acknowledged this week that he sometimes finds himself at odds with administration decisions.
• Key ruling: Meanwhile, a federal appeals court said tonight that the administration’s plans to conduct mass firings at multiple agencies will remain on hold after it declined a request to freeze a lower court’s order that halted the terminations at more than a dozen agencies.