POLITICO Playbook Daily Briefing

The major story today is still the economic after-effects of Trump’s globe-reshaping cascade of new tariffs. Yesterday, they sent markets tumbling head over heels with major losses — the biggest one-day wipeout in value since the early days of the Covid-19 pandemic. POLITICO economics correspondent and Capital Letter columnist Victoria Guida joins Playbook Deputy Editor Zack Stanton to break it down. Plus, Playbook London reports that President Donald Trump could hold another phone call with Russian President Vladimir Putin as soon as today, and here in Washington, Capitol Hill is intently focused on the Senate’s vote-a-rama session that’s expected this weekend ahead of final adoption of the Senate GOP’s budget resolution.

Buckle up. In a major announcement after markets closed yesterday afternoon, President Donald Trump unleashed a major wave of tariffs against America’s trading partners throughout the world. Today, as allies respond in kind with tariffs targeting the U.S., all eyes will be on the markets as investors react to the new economic reality. Even so, a whirlwind of news occupies Washington, from Elon Musk’s potential future (or not) in the Trump administration, to new revelations about national security adviser Mike Waltz’s use of Gmail and Signal for government work. POLITICO’s White House bureau chief Dasha Burns joins Playbook author and managing editor Jack Blanchard to break it all down.

This morning, many Democrats are waking up feeling something they haven’t experienced since Donald Trump’s election in November: optimism. Yesterday, Democratic-backed Judge Susan Crawford won election to the Wisconsin Supreme Court, ensuring a liberal majority that some Dems hope could throw out district maps that favor the GOP. Meanwhile in Florida, Republicans won two special elections for the House, but with margins that hint at the makings of a national Democratic wave heading into the 2026 cycle. Playbook deputy editor Zack Stanton joins Playbook author and managing editor Jack Blanchard to unpack what this all means for Trump, Elon Musk, and the rest of Washington. Plus, it’s “Liberation Day” at the White House, where a slate of major new tariffs are set to be unveiled this afternoon.

The first major electoral tests of the Trump era are here: In two special elections in Florida and a statewide race in Wisconsin, voters will head to the polls and offer the first meaningful glimpse of the prevailing winds heading into the 2026 cycle. In normal times, Republicans would handily win both seats up for grabs in Florida, but as politics bureau chief and senior political columnist Jonathan Martin tells host Steven Overly, the Democrats shouldn’t be counted out just yet. We walk through what to watch for and how it’s likely to shape the narrative in Washington in the days ahead.

After several days dominated by a single story — Signalgate — the new week brings a series of major stories that will drive the narrative here in Washington. One of those comes from Wisconsin, where a high-profile battle for control of the state supreme court has become the unlikely center of the political universe. With north of $100 million spent, tomorrow’s election presents the first and most meaningful electoral test of the new Trump era — even as the race itself has turned into something of a referendum on conservative billionaire donor Elon Musk. POLITICO Morning Score author Andrew Howard joins Playbook deputy editor Zack Stanton to unpack the ins and outs of the race, its implications and what Democrats hope it tells them. Plus, voters head to the polls in two key Florida special elections, a battery of trade moves hit the economy and Trump’s weekend interviews make headlines and spin heads.

It’s a fitting end to a week of news dominated by foreign policy hands in Trump world: Yesterday, the White House announced that it is withdrawing Rep. Elise Stefanik’s nomination for UN ambassador. The New York Republican will instead remain in the House as Republicans work to maintain their narrow majority in the chamber. What does that tell us about the outlook for Trump’s agenda? And how does Stefanik return to life on Capitol Hill? Senior Congress editor Mike Debonis joins Playbook deputy editor Zack Stanton to break it all down. Plus, Vice President JD Vance heads to Greenland, and Signalgate fallout continues for a fifth day.

For a fourth day, the Signalgate ordeal dominates every conversation in Washington — the rare Trump administration controversy with true staying power. What makes this time different? POLITICO cybersecurity reporter Maggie Miller joins Playbook deputy editor Zack Stanton to talk through that and its potential implications for policy and politics in the Trump administration and beyond.

It's been two days since 'Signalgate' took over Washington, and the president’s inner circle continues to deal with its impacts. Despite the administration's public support of National Security Advisor Mike Waltz, some are wondering if he'll eventually fall on the sword. White House bureau chief Dasha Burns joins Playbook managing editor and author Jack Blanchard to discuss.

It was the group chat heard round the world, and it perhaps shouldn’t even exist at all. Yesterday, “The Atlantic” published a piece revealing that some of the Trump administration’s top national security officials were using the commercial messaging app Signal to hold conversations about top-secret war plans — and that they inadvertently leaked those plans by adding “Atlantic” editor-in-chief Jeffrey Goldberg to the chat. POLITICO intelligence reporter Amy Mackinnon joins host Steven Overly to discuss the fiasco and its implications in the U.S. and around the globe.

With both the Senate and the House returning today from a weeklong recess, the race is on to pass a budget bill. And though one of the prevailing recent storylines out of Washington centers on the divides within the Democratic Party, we’re about to have the divides within the Republican Party on full display. Congress reporter Jordain Carney joins host Steven Overly to talk through what to watch for this week on the Hill. That, and all the rest of the news you need to know today.

Democrats want to talk about Elon Musk. Whether voters want to hear that is another question — and one we may get an answer to very soon. In Wisconsin, an April 1 state supreme court race offers a test run of Dems’ new Musk-centric campaign strategy. If it works, you can probably expect to see them use that Playbook in the 2026 campaign. If it doesn’t? Well, then the party may just be as lost as ever. National politics editor David Siders joins Playbook deputy editor Zack Stanton to dig into it. Plus, Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez head west on a “Fighting Oligarchy” tour.

President Donald Trump’s multi-front battle on education is in full swing. Today, he’s expected to sign an executive order effectively dismantling the Department of Education; Columbia University faces a deadline to respond to the administration’s demands or else lose $400 million in funding; Penn finds itself under scrutiny as the administration takes issue with its policy on transgender student athletes; and Dartmouth staffs up as it seeks to remain out of the line of fire. POLITICO’s West Wing Playbook author and White House reporter Irie Sentner joins Playbook deputy editor Zack Stanton to discuss.

President Donald Trump is no stranger to pushing the limits. And since reentering the Oval Office, he’s put significant energy into pushing the limits of the law — testing the courts and the legal system in ways rarely before seen in this country. What’s behind that effort, and where does it go from here? Senior legal correspondent Josh Gerstein joins Playbook author and managing editor Jack Blanchard to discuss.

Today, President Donald Trump will talk with Russian President Vladimir Putin about a potential ceasefire between Russia and Ukraine. Trump, who told reporters over the weekend that significant progress has already been made in peace negotiations, is expected to make certain concessions for a successful deal. Can the two leaders come up with a plan to end the war — or get close to it? And will that plan sacrifice Ukraine’s own goals for the sake of a deal, whatever the costs? POLITICO national security reporter Eric Bazail-Eimil joins host Steven Overly to talk through what he’s watching. Plus, recent deportation decisions by the Trump administration call into question the limits of the president’s power. All that, and the rest of the news you need to know today.

Democrats have been looking inward since November 5, but over the past few days that self-examination has escalated. On Friday, Minority Leader Chuck Schumer led a small group of Senate Democrats to help pass the Republican-backed continuing resolution. In the days since, Schumer has faced frustration from colleagues, with some even calling for his removal. The situation has left those on and off the Hill trying to determine if Democrats can unite around… anything. Congress reporter Jordain Carney joins POLITICO Tech host Steven Overly to discuss. Plus, President Donald Trump defied a federal judge and carried out deportations using a wartime law from 1798. That, and the rest of the news you need to know today.

House Republicans are one step closer to passing their continuing resolution to fund the government, now that they have overcome the roadblock that is Senate Minority Leader Chuck Schumer. Last night, Schumer announced that he will reluctantly support the GOP’s CR — preferring it to the alternative of a government shutdown. But that decision has left many Democrats apoplectic. They were spoiling for a fight with Trump and saw this as their moment of maximum leverage; if not now, then when? How will it all shake out, and what will insiders be watching for ahead of the big vote this afternoon? Congress reporter Jordain Carney joins Playbook deputy editor Zack Stanton to discuss.

President Donald Trump has only been in office for a month and a half, but 2028 is already on the minds of Democrats in Washington, and the road to the next presidential campaign is beginning to take shape. POLITICO national politics correspondent Adam Wren sits down with Playbook deputy editor Zack Stanton to share his scoop about what their fellow midwesterner, Pete Buttigieg, has decided about his political future. Plus, we’re once again on a shutdown countdown, and the rest of the news you need to know today.

Market volatility is the talk of Washington as the White House issues (and, in some cases, walks back) whiplash-inducing tariff threats. And as the economy dominates the discussion, all eyes are on Congress as a government shutdown looms at the end of the week. Yesterday, House Speaker Mike Johnson led House Republicans on a big step forward, passing a seven-month stopgap government funding bill. But it now faces an uncertain path forward in the Senate ahead of the shutdown deadline on Friday evening. What are insiders watching for? POLITICO’s Capitol bureau chief Rachael Bade joins Playbook author Jack Blanchard to talk it through.

What precisely are the limits of free speech in Donald Trump’s America? That question is at the heart of the case of Mahmoud Khalil, a Columbia University grad student and green card holder whose protests against Israel led to his detention by ICE over the weekend. Administration officials say the move complies with President Trump’s executive order cracking down on anti-semitism on college campuses. But a diverse array of critics argue that it amounts to an unconstitutional attempt to punish Khalil for speech protected by the First Amendment. West Wing Playbook co-author (and former Columbia Spectator editor-in-chief) Irie Sentner walks Steven Overly through the situation. Plus, Republicans aim to bring a continuing resolution to the House floor today, and Elon Musk suggests that entitlements are on the chopping block — despite of Trump’s promises to the contrary.

Two facts are behind the day’s biggest story on Capitol Hill. One, we’re just five days away from a government shutdown. Two, the House GOP’s so-called ‘clean’ continuing resolution is chock full of details — like mass deportations and new money for ICE — that will make it hard to get enough Democratic votes to succeed. POLITICO Congress reporter Meredith Lee Hill walks guest host Steven Overly through the vote count at the moment and everything else you need to know about the state of play in Washington.