Welcome to the online version of From the Politics Desk, an evening newsletter that brings you the NBC News Politics team’s latest reporting and analysis from the White House, Capitol Hill and the campaign trail.
In today’s edition, we have the first comments from Kristen Welker’s exclusive interview with President Donald Trump. Plus, we’re looking at another U.S. ally — after Canada — that has seen its upcoming election roiled by Trump as he reshapes not just American politics but global politics as well.
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— Scott Bland
Trump downplays recession fears, saying the U.S. would be ‘OK’ in the long term
By Alexandra Marquez
President Donald Trump on Friday downplayed concerns about potential economic trouble, saying everything would be “OK” in the long term, even if the U.S economy experienced a recession in the short term.
Asked twice by “Meet the Press” moderator Kristen Welker whether it would be OK in the long term if there was a recession in the short term, the president said, “Look, yeah, it’s — everything’s OK. What we are — I said, this is a transition period. I think we’re going to do fantastically.”
Following up, Welker asked Trump if he was worried about a recession, to which he responded, “No.” Asked whether he thinks one could happen, Trump replied, “Anything can happen, but I think we’re going to have the greatest economy in the history of our country.”
The remarks come as analysts on Wall Street are increasingly worried that the country could face a recession due to Trump’s changing tariff policy.
“Well, you know, you say, ‘Some people on Wall Street say’ — well, I tell you something else. Some people on Wall Street say that we’re going to have the greatest economy in history. Why don’t you talk about them?” Trump said during the interview at his Mar-a-Lago resort in Florida.
“There are many people on Wall Street say this is going to be the greatest windfall ever happen,” the president added.
According to initial measurements released by the Commerce Department on Wednesday, the U.S. economy shrunk by 0.3% in the first quarter of 2025, a reduction largely driven by a fall in exports and a boost in imports ahead of Trump’s expected tariffs.
On Wednesday, while meeting with members of his Cabinet, Trump deflected blame for the first-quarter gross domestic product numbers, saying that it was a result of the economy former President Joe Biden left behind.
“You probably saw some numbers today,” Trump said, “and I have to start off by saying, that’s Biden.”
After Canadian election, Trump could drag down conservatives in Australia too
By Mahalia Dobson
Days after a Canadian election that hinged on who would best stand up to U.S. President Donald Trump, he is at the center of an election in another liberal democracy.
Trust in the United States is plummeting in Australia, which votes Saturday amid global financial turmoil sparked by tariffs Trump has imposed on trading partners around the world including Australia, a U.S. ally and vital security partner in countering China.
As in Canada, Australia’s opposition conservative party, the Liberal Party, was primed to win before Trump returned to office, thanks to public anger over the cost of living and record-high home prices. But it has since lost support among voters increasingly concerned about how their government will handle Trump.
A poll released last month by the Lowy Institute, a research foundation, found only 36% of Australians expressed any level of trust in the United States — the lowest in the annual poll’s two-decade history.
While 81% of Australians disapprove of Trump’s tariffs, the vast majority (80%) continue to say the U.S. alliance is important for Australia’s security.
Those numbers reflect the economic and security dichotomy Australia faces: how to balance its security ties with the U.S. and its trade interests with China.
Read more on Saturday’s election in Australia →
🗞️ Today’s other top stories
- 📃 Trump’s wish list: Trump released a budget proposal calling for cuts to programs related to public health, education and clean energy, and boosts in spending for the military and border security. Read more →
- 🥊 Trump vs. Harvard: Trump said in a Truth Social post that his administration is “going to be taking away Harvard’s Tax Exempt Status.” Read more →
- 🥊 Trump vs. NPR & PBS: Trump signed an executive order directing the Corporation for Public Broadcasting to stop funding NPR and PBS. Read more →
- 🥊 Trump vs. law firms: Attorneys who have been critical of law firms striking deals with Trump are forming their own firm to represent clients targeted by the White House. Read more →
- 🌎 Rubio’s world: Secretary of State Marco Rubio’s new role as national security adviser is the latest example of his swift rise in Trump’s orbit. Rubio has sought to establish his role as a close Trump ally after being initially caught off guard by some of Trump’s early foreign policy announcements. Read more →
- 👀 Eyes on 2026: Trump’s strategy for the 2026 midterms is taking shape, with the White House in close consultation with congressional leaders, his political operation raising millions for aligned outside groups, and his party looking to energize his core supporters. Read more →
- 💰 Meme coin murmurs: Some Senate Republicans are raising concerns about Trump’s offer of a private dinner and White House tour to investors in his meme coin. Read more →
- ✍️ Sounding the alarm: Democratic senators issued a letter calling on the Trump administration to investigate deals between Elon Musk’s Starlink and foreign countries, alleging Musk used his perch at the White House to further the agreements. Read more →
- 🐶 DOGE in the states: More than 20 states have established their own Departments of Government Efficiency, but the state-level versions have taken more modest approaches to cutting government programs and jobs. Read more →
- ✋ Not throwing away his Schatz: Sen. Brian Schatz, D-Hawaii, has been racking up some early endorsements from fellow senators as he vies to be the next Democratic whip. Read more →
That’s all From the Politics Desk for now. Today’s newsletter was compiled by Scott Bland and Bridget Bowman.
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