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By Milana Vinn and Alexandra Alper NEW YORK/WASHINGTON (Reuters) -Star technology investment banker Michael Grimes, who left Morgan Stanley to take up a senior role in the U.S. Commerce Department last month, is expected to lead the new U.S. sovereign wealth fund that was unveiled by President Donald Trump, two people familiar with the matter said. The discussions about Grimes leading the efforts to create and spearhead the sovereign wealth fund are ongoing and plans … Read more…

By Nora Eckert, Kalea Hall and David Shepardson DETROIT (Reuters) – U.S. President Donald Trump’s 25% tariffs on Canada and Mexico have sent the U.S. auto industry scrambling to plan for the massive tax on some of America’s best-selling vehicles, including full-sized pickup trucks, while pinning their hopes on a potential deal in Washington. Hours after the tariffs went into effect, the White House threw the industry a lifeline, saying many North American-built vehicles would … Read more…

By David Ljunggren and Promit Mukherjee OTTAWA (Reuters) – Prime Minister Justin Trudeau told U.S. President Donald Trump on Tuesday that his tariffs on Canadian imports were “a very dumb thing to do” and said Ottawa was striking back immediately at its closest ally. Trudeau, speaking hours after Trump launched a trade war against Mexico and Canada, announced immediate 25% tariffs on C$30 billion worth of U.S. imports. If need be, Canada will target another … Read more…

By Tim Reid WASHINGTON (Reuters) – U.S. President Donald Trump is expected to boast about his sweeping cuts to the federal bureaucracy during an address to a joint session of Congress on Tuesday night, with praise for tech billionaire Elon Musk’s so-called Department of Government Efficiency (DOGE). Trump has given Musk and his DOGE team extraordinary power. In just six weeks entire government agencies have been dismantled and tens of thousands of workers fired. Critics, … Read more…

By Patricia Zengerle and Daphne Psaledakis WASHINGTON (Reuters) – Donald Trump’s nominee to be U.S. ambassador to NATO, Matthew Whitaker, pledged on Tuesday to strengthen NATO and said the Republican president remains committed to the alliance. “If confirmed, I will work tirelessly to strengthen the alliance, ensure the security of the American people and uphold our nation’s role as the beacon of freedom and liberty,” Whitaker said at his confirmation hearing before the Senate Foreign … Read more…

(Reuters) -Wall Street’s main stock indexes tumbled late Monday to end sharply lower after President Donald Trump announced the start of 25% tariffs on Canada and Mexico. Trump said on Monday that there was no chance for Mexico or Canada to prevent 25% tariffs from taking effect on Tuesday. “They’re going to have to have a tariff. So what they have to do is build their car plants, frankly, and other things in the United … Read more…