House Republicans subpoena Google and YouTube parent
Barely anyone has outlined emissions cuts. Financiers see that as an opportunity
The World at a Glance
Updated 3:25pm EST
1
Donald Trump paused tariffs on most Canadian and Mexican imports, offering a major reprieve to America’s top trading partners.
2The US trade deficit reached a record in January, as businesses scrambled to secure goods from overseas before tariffs went into effect.
3European leaders will meet in Brussels Thursday for an emergency summit on boosting the continent’s defense and supporting Ukraine.
4The Trump administration plans to revoke the legal status of 240,000 Ukrainian refugees, Reuters reported, a move that could see them deported.
5Trump warned Hamas ‘it is over’ if the militant group fails to release hostages, after the US confirmed it held secret talks over Gaza.
6The European Central Bank cut its benchmark interest rate, as inflation continues to near its 2% target and Eurozone growth remains weak.
European leaders meet in Brussels as continent faces ‘watershed moment’
French President Emmanuel Macron has led the charge in recent days, suggesting France’s nuclear deterrent could be put to use.
Stephanie Lecocq/ReutersTrump crypto reserve risks undermining Congress’ industry-friendly plans
Ordering the government to buy digital assets may complicate the prospects for a bipartisan deal on crypto-friendly legislation.
Win McNamee/ReutersWarren: Democrats should vote for short-term funding bill as government shutdown looms
Congress has just a little over a week to pass a bill that would avoid a government shutdown.
Kristoffer Tripplaar/SemaforHouse Republican Barr launches full-throated defense of DOGE
With $36 trillion in debt, the US has to embrace DOGE’s cost-cutting initiatives, Rep. Andy Barr told Semafor.
Kristoffer Tripplaar/SemaforAD
Warren probes CEOs over their tax break lobbying
Sen. Elizabeth Warren of Massachusetts sent a letter to the CEOs of Amazon, Apple, Alphabet, Meta, and Tesla asking for answers.
Annabelle Gordon/ReutersNovo Nordisk to cut price of Wegovy amid rising weight-loss drug competition
Pharma giants face growing competition from copycat weight-loss drugs, as patents near expiration.
Victoria Klesty/Illustration/File Photo/ReutersRepublicans still divided over how to pay for Trump’s tax cuts
Two members of the Senate Finance Committee have privately raised questions about their leaders’ strategy.
Kent Nishimura/Reuters
politics
Craig Hudson/ReutersKristoffer Tripplaar/Semafor 
Leah Millis/Reuters
Rubio’s reckoning: Is he a Trump ‘influencer’ or follower?
Many Democrats who supported the secretary of state now regret it, but he’s still assuring them he can salvage the USAID wreck.
Craig Hudson/ReutersHouse Republican Barr launches full-throated defense of DOGE
With $36 trillion in debt, the US has to embrace DOGE’s cost-cutting initiatives, Rep. Andy Barr told Semafor.
Kristoffer Tripplaar/SemaforHouse Republicans subpoena Google and YouTube parent
It’s part of a long-running look at conservative allegations of censorship by tech companies.
Leah Millis/ReutersWarren: Democrats should vote for short-term funding bill as government shutdown looms
Congress has just a little over a week to pass a bill that would avoid a government shutdown.
Warren probes CEOs over their tax break lobbying
Sen. Elizabeth Warren of Massachusetts sent a letter to the CEOs of Amazon, Apple, Alphabet, Meta, and Tesla asking for answers.
Americans’ sympathy for Israelis lowest in two decades, Gallup survey finds
One-third of US adults say they sympathize with Palestinians, the highest reading to date since Gallup began polling the question 25 years ago.
Senate Republicans ask Musk for spending cuts vote
Musk briefed the Senate GOP on DOGE’s cost-cutting spree, with the billionaire expected to coordinate more closely with Trump and Congress on cuts.
Trump crypto reserve risks undermining Congress’ industry-friendly plans
Ordering the government to buy digital assets may complicate the prospects for a bipartisan deal on crypto-friendly legislation.
Republicans still divided over how to pay for Trump’s tax cuts
Two members of the Senate Finance Committee have privately raised questions about their leaders’ strategy.
Congressional Republicans bristle at Trump’s tariffs
“What does the stock market think of them?” one senator responded. “That tells you something.”
Europe reacts with outrage to Vance insult
The vice president dismissed European nations’ offers to send peacekeeping forces to Ukraine in a Fox News interview Tuesday.
business
Jeenah Moon/Reuters
Bessent tries to calm the markets — again
The Treasury secretary sought Thursday to persuade nervous investors that President Donald Trump’s economic policies are part of a larger, coherent vision.
Jeenah Moon/ReutersTrump gives major tariff reprieve to Canada and Mexico
The pause — until April 2 — offered a major reprieve to two of Washington’s top trading partners.
Novo Nordisk to cut price of Wegovy amid rising weight-loss drug competition
Pharma giants face growing competition from copycat weight-loss drugs, as patents near expiration.
US trade deficit hit record in January, as growth fears loom large
The total value of imports to the country increased 10%, while exports only rose 1.2%, leaving a $131 billion trade gap.
MAGA offers corporations cover to flee Delaware
Threats that blue-chip companies, including Walmart, would leave for politically friendlier states sparked Delaware’s recently proposed overhaul of its corporate laws.
technology
Yves Herman/Reuters
Reed Albergotti/Semafor
Anthropic looks to chip and energy strength to secure American AI dominance
The startup has also recommended the White House enhance national security testing of AI models.
Yves Herman/ReutersAutonomous driving technology has crossed a threshold, and there’s no going back
I turned the family ski trip into an autonomous driving experiment and saw the future of transportation.
Reed Albergotti/SemaforApple announces $500B US investment as Trump tariffs loom over tech
The Silicon Valley giant also said it would hire more than 20,000 people in the US as part of the effort.
Microsoft’s quantum chip creates new state of matter
The new “topological state” — which isn’t a solid, liquid, or gas — had previously only existed in theory.
Corporations dig deeper: using bunkers to secure data (and their CEOs)
Several large companies are building underground housing for their data centers and executives.
Crypto heavyweight Coinbase releases US legislative wishlist
After battling regulators in the Biden administration and funneling millions to Republicans in the 2024 elections, the crypto exchange is formalizing its asks of a GOP-controlled Washington.
net zero
GJMarshy/Wikimedia Commons
Carmen Jaspersen/Reuters
Evelyn Hockstein/Reuters
Barely anyone has outlined emissions cuts. Financiers see that as an opportunity
Bond investors and banks are pressing for “investable” national climate transition plans.
GJMarshy/Wikimedia CommonsEurope puts its energy transition on life support
Spiraling energy prices have turned many Europeans against the region’s ambitious climate goals.
Carmen Jaspersen/ReutersCongress is about to put Biden’s climate strategy to the test
Will Inflation Reduction Act tax credits survive budget negotiations led by House Speaker Mike Johnson?
Evelyn Hockstein/Reutersgulf
Mohammed Benmansour/Reuters
Analysis: PwC’s Saudi ban is a warning sign
Lower oil prices, localization, and the rise of a highly trained Saudi professional class may signal the end of boom times for foreign consultancies.
Mohammed Benmansour/ReutersDubai bucks global heat trend with cooler temperatures
Researchers attribute the decline in temperatures to an expansion of green spaces and water bodies.
Abu Dhabi oil giant ADNOC, Austrian OMV create $60B chemicals giant
The two companies are merging some petrochemicals and plastics units to form Borouge Group, which will also acquire Canada’s Nova Chemicals.
Analysis: OPEC+ stays the course, defying market expectations
The oil producer alliance proceeds with a gradual output boost, signaling confidence in oil demand growth.
High property prices squeeze Saudis out of homeownership
The Saudi property market has rebounded after four years of decline, but soaring prices and high interest rates are locking out many locals.
africa
OpenUpEd/Flickr. CC BY 2.0
Yara Nardi/File Photo/Reuters
Startup investor Endeavor Catalyst to expand Africa portfolio
The New York-based venture capital firm has made 40 investments in Africa since 2017.
OpenUpEd/Flickr. CC BY 2.0Trump’s Africa team starts to take shape
Brendan McNamara, who previously worked for the US Africa Command, has joined the National Security Council as Africa Director, according to people familiar with the matter.
Yara Nardi/File Photo/ReutersAfrica deepens economic ties with Caribbean
Afreximbank’s $1 bilion oil financing deal with Guyana is part of a broader shift.
UK agrees $50M African trade deal
The agreement with Ghana International Bank aims to boost trade in seven African countries.
China won’t ‘replace’ USAID in Africa
But the exit of US foreign assistance has created an opportunity for Beijing to strengthen its presence on the continent, say experts.
Dismantling US Africa Command could create a damaging power ‘vacuum’
Reports that the Trump administration will shutter a US military unit that protects American interests on the continent threatens US-Africa diplomacy.
media
Shannon Finney/Getty Images for Semafor
Democrats introduce bill to defang Carr’s aggressive FCC
The commission has revived several regulatory actions against broadcasters that President Donald Trump doesn’t like.
Shannon Finney/Getty Images for SemaforHouse Democrats organize digital creators to counter Trump’s speech
Content creators will be able to speak to Democrats and their guests in a post-address spin room.
Mixed Signals: New York Times editor Joe Kahn, podcaster Megyn Kelly and more on the collapse of trust
Highlights from Semafor’s media summit.
Mixed Signals: Why Netflix is “obsessed” with winning an Oscar, with Puck’s Matt Belloni
How Hollywood and the Academy have followed cultural shifts in the past, and if they’ll change course in 2025.
FCC’s Carr defends broadcast probes, slams social media ‘threat’
The FCC chairman said social media giants are “the greatest threat” to free speech in recent times.
security
Majid Asgaripour/WANA (West Asia News Agency) via Reuters
Frank Augsten/Pool via Reuters
Evelyn Hockstein/Pool/Reuters
Iran expands stockpile of near-weapons grade uranium by 50%
Tehran’s growing uranium stockpile is of “serious concern,” the United Nations’ nuclear watchdog warned.
Majid Asgaripour/WANA (West Asia News Agency) via ReutersStarmer plans to hike UK defense spending to counter ‘tyrants like Putin’
Keir Starmer said the increased investment was necessary because ‘tyrants like Putin only respond to strength.’
Frank Augsten/Pool via ReutersZelenskyy: ‘Nobody decides anything behind our back’ as US, Russia hold Ukraine talks
The Ukrainian leader sharply criticized Tuesday’s US-Russia bilateral talks in Riyadh.
Evelyn Hockstein/Pool/ReutersAD