Trump teases ‘major trade deal’ with ‘big, highly respected country’

President Trump on Wednesday night teased a trade deal announcement, nearly a month after he implemented a 90-day pause on reciprocal tariffs and implemented a 145 percent tariff on China.

“Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!” Trump said on Truth Social.

The Trump administration has been in talks with dozens of trading partners during the 90-day prior, which started on April 9 following a week of turmoil in the stock market and pressure from Republicans and Wall Street to take a pause. A 10 percent tariff is in place for all trading partners besides China.

On Tuesday, though, Trump downplayed the need for trade deals, telling reporters, “We don’t have to sign deals,” and that he could have 25 signed if he wanted. He also suggested reporters stop asking about when deals would be signed.

And, Treasury Secretary Scott Bessent clarified that the administration is not engaged in ongoing talks with China, after officials suggested for weeks that there were some interactions with Beijing to strike a deal that would lower the 145 percent tariffs.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis said Tuesday that the trade deficit swelled in the first quarter, announcing the goods and services deficit was $140.5 billion in March, an 8 percent increase from the month prior. 

Bessent last week hinted that negotiations on tariffs with India may be close to concluding, adding that 17 negotiations “are in motion.”

He said at the time that talks with Asian trading partners, also including South Korea and Japan, are the closest to leading to a deal because those allies “have been the most forthcoming” with negotiations.

Vice President Vance had just traveled to India to meet with Prime Minister Narendra Modi about tariffs. India, which on Tuesday launched what it said were retaliatory strikes against Pakistan, also just struck a trade deal with the United Kingdom aimed at lowering tariffs between the two countries.

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CNBC was left holding the bag on Friday when Elon Musk abruptly backed out of a live, heavily promoted interview moments before it was set to air, as SpaceX shares slid below the price of their first public trade.

The network had spent the morning teasing the sit-down, billed as Musk's first television interview since SpaceX went public. Anchor Scott Wapner threw to correspondent Julia Boorstin at the Allen & Co. gathering in Sun Valley, Idaho, to explain why it suddenly wasn't happening.

"We've been promoting this exclusive interview that Elon Musk was expected to give to our Julia Boorstin, which is now apparently no longer happening. I want to bring in Julia Boorstin, who's been in Sun Valley. Julia, do you want to explain to us exactly what happened here, as this was imminent?" said Wapner.

"Yeah, we were expecting to start an interview with Elon Musk right now at noon Eastern. We just got word that he has to postpone," Boorstin replied, adding that the network hopes Musk will offer a new time.

Boorstin noted that SpaceX shares were trading below the level of their very first trade and well off the highs the stock reached after its record June debut. As she spoke, shares were off nearly 3% at around $148. SpaceX priced its IPO at $135 and opened at $150 on June 12 before surging in its opening sessions, then slipping back below that opening level as it was pulled into major market indexes.

She said there was plenty she had hoped to raise, including Grok 4.5, the AI model Musk's company launched Wednesday, and how SpaceX is holding down customer prices as component costs climb. That thread would have followed a CNBC interview a day earlier with OpenAI's Sam Altman about efficiency gains in his company's newest models.

Wapner called it an unfortunate development and said the network would report any update.

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‘High-T Department of War’: Hegseth plugs testosterone program for maximum ‘lethality’



Defense Secretary Pete Hegseth has ordered mandatory testosterone screening for all active-duty service members 30 and older, framing the program in a video posted Wednesday as essential to keeping troops on the "leading edge of lethality."

The new screening will be added to the annual health assessment soldiers already complete each year, Hegseth announced on his official X account.

Service members under 30 may request the test voluntarily, according to the video, while those over 30 will not have a choice. If a deficiency is found, testosterone replacement therapy — a medical treatment to restore hormone levels — remains optional.

"The High-T Department of War," Hegseth wrote on X alongside the video.

"This initiative — it's not about artificial enhancement," Hegseth said in the video. "It's about restoring and optimizing your natural capabilities."

The announcement is the latest in a string of body-focused mandates Hegseth has imposed on the force since taking office, Newsweek reported.

Last September, he assembled hundreds of generals and admirals at Quantico to declare the Pentagon's softer era finished.

"We're empowering drill sergeants to instill healthy fear in new recruits," Hegseth told the assembled brass. He also codified mandatory daily physical training for every service member and imposed the "highest male standard only" for all combat roles, acknowledging the change would push women out of those jobs.

Those same Quantico memos cut cybersecurity and privacy training requirements — even as Wednesday's order adds a new medical test to the annual calendar, Hegseth's office confirmed.

Last September, he also declared "no more beardos" and banned most shaving exemptions. But during a June visit to a Navy ship, he found multiple sailors still wearing beards and left the vessel pressing officials to enforce the policy more aggressively, CNN reported.

Sailors with razor bumps — a painful shaving condition that affects an estimated 60 percent of Black men — face discharge if they cannot resolve it within a year, the Navy announced this month.

"We owe our warriors the absolute best medical care in the world," Hegseth said in Wednesday's video, "and this program delivers on that obligation."