Global markets mostly gain after Trump tariffs and jobs report sent Wall Street tumbling

Global shares advanced Monday after Wall Street had its worst day since May following the release of weak U.S. jobs data and U.S. President Donald Trump ’s announcement of sweeping tariffs on imports from many U.S. trading partners. The new import duties are set to take effect Thursday.

France’s CAC 40 added 0.8% in early trading to 7,609.44, while the German DAX rose nearly 1.0% to 23,702.42. Britain’s FTSE 100 edged up 0.4% to 9,108.28.

Tokyo’s Nikkei 225 index lost 1.3%, bouncing back from bigger losses earlier in the day to finish at 40,290.70. The Hang Seng in Hong Kong jumped 0.9% to 24,733.45, while the Shanghai Composite index climbed nearly 0.7% to 3,583.31. In South Korea, the Kospi surged 0.9% to 3,147.75.

U.S. shares were set to drift higher with Dow futures up 0.6% at 43,951.00. S&P 500 futures rose 0.6% to 6,302.75.

Here’s the latest:

Trump again knocks India for buying Russian oil

The president said in a post on Truth Social that India is buying “massive amounts” of oil from Russia and then “selling it on the Open Market for big profits.”

“They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA,” he said.

It wasn’t immediately clear if Trump was announcing higher rates than those he announced last week, when he said the U.S. would impose a 25% tariff on goods from India, plus an additional import tax because of the purchases of Russian oil.

The White House didn’t immediately respond to a message seeking comment.

Schumer and Jeffries request meeting this week of the ‘big four’

The top two Democratic leaders in Congress have asked the top two Republican leaders for a meeting this week to discuss a path forward for funding the federal government after the current budget year ends Sept. 30.

When lawmakers return to Washington after Labor Day, they’ll have four weeks to avoid a partial government shutdown. Democrats are also looking to prevent the expiration at the end of the year of enhanced tax credits designed to make health insurance coverage more affordable for enrollees in Affordable Care Act plans. Millions will see higher premiums when the credits expire.

Senate Democratic leader Chuck Schumer and House Democratic leader Hakeem Jeffries said Republicans have the responsibility to work on a bipartisan basis to avert a “painful, unnecessary shutdown.” They were also critical of the GOP’s recent efforts to use their majority to pass Trump’s massive tax and spending cut bill.

“Today, we wish to reiterate that we should pursue a bipartisan path — you can work with us to protect health care for the American people and chart a better course for this country,” said the letter sent to Senate Majority Leader John Thune and House Speaker Mike Johnson.

State Department proposes making some visa applicants post an up to $15k bond to apply to enter US

It would apply to applicants for business and tourist visas.

In a notice to be published in the Federal Register on Tuesday, the department said it would start a 12-month pilot program under which visa applicants from countries deemed to have high overstay rates and deficient internal document security controls could be required to post bonds of $5,000, $10,000 or $15,000 when they apply for a visa.

A preview of the notice, which was posted online at the Federal Register website Monday, said the pilot program would take effect within 15 days of its formal publication and is necessary to ensure the U.S. government isn’t financially liable if a visitor doesn’t comply with the terms of their visa.

The bond, which would be refunded as long as the terms of the visa are complied with, wouldn’t apply to citizens of countries enrolled in the Visa Waiver Program and could be waived for others depending on an applicants’ individual circumstances.

Trump says ‘Go get ‘em’ to actor Sydney Sweeney and bemoans ‘woke’

The president posted on Truth Social about Sweeney’s jeans ad for American Eagle Outfitters, the second time in the last 24 hours in which he weighed in on the controversy over the ad, which sparked a debate over race and Western beauty standards.

Trump, misspelling Sweeney’s first name, said it was “the HOTTEST ad out there.”

“It’s for American Eagle, and the jeans are ‘flying of the shelves.’ Go get ’em Sidney,” Trump said in his post.

In the same post, Trump complained about advertisements from Bud Light (which he also misspelled) and Jaguar, along with renewing his complaints about singer Taylor Swift, declaring them all “woke.”

Texas governor threatens to remove Democrats who left state over Trump-backed redistricting

Republican Texas Gov. Greg Abbott says he’ll begin trying to remove Democratic lawmakers from office Monday if they don’t return after dozens of them left the state in a last-resort attempt to block redrawn U.S. House maps that President Trump wants before the 2026 midterm elections.

The revolt by the state House Democrats, many of whom went to Illinois or New York on Sunday, and Abbott giving them less than 24 hours to come home ratcheted up a widening fight over congressional maps that began in Texas but has drawn in Democratic governors who have floated the possibility of rushing to redraw their own state’s maps in retaliation. Their options, however, are limited.

At the center of the escalating impasse is Trump’s pursuit of adding five more GOP-leaning congressional seats in Texas before next year that would bolster his party’s chances of preserving its slim U.S. House majority.

▶ Read more about the redistricting effort in Texas

Trump’s Monday schedule

The only thing on President Trump’s public schedule today is a lunch with Vice President JD Vance at 12:30 p.m., according to the White House.

Trump attacks Charlamagne Tha God after radio host criticizes his presidency

Trump on Sunday lashed out at radio host Charlamagne Tha God, saying in a social media post that the popular broadcaster “knows nothing about me or what I have done.”

Trump’s comments came a day after Charlamagne, whose real name is Lenard McKelvey, criticized Trump on Fox News.

Asked how he would rate Trump’s presidency, the radio host said, “I wouldn’t give it a good rating simply because the least of us are still being impacted the worst.”

Trump said on Truth Social that Charlamagne was a “dope” who voted for Democratic Vice President Kamala Harris.

Charlamagne said he personally will benefit from tax breaks approved in Trump’s tax-and-spending law, but said, “There’s going to be so many people that’s hurt by that bill.’′

“Anything that takes away Medicaid from people and will put people in a worse financial situation than they were previously in, I’m not for,” he added.

Charlamagne, who co-hosts a nationally syndicated radio show, “The Breakfast Club,” added that his criticism of the Republican president was not new, adding that he “gave President Biden the same hell.”

▶ Read more about Charlamagne’s comments

Smithsonian denies White House pressure to remove Trump impeachment references

The White House did not pressure the Smithsonian to remove references to Trump’s two impeachments from an exhibit and will include him in an updated presentation “in the coming weeks,” the museum said Saturday.

The revelation that Trump was no longer listed among impeached presidents sparked concern that history was being whitewashed to appease the president.

“We were not asked by any Administration or other government official to remove content from the exhibit,” the Smithsonian statement said.

A museum spokesperson, Phillip Zimmerman, had previously pledged that “a future and updated exhibit will include all impeachments,” but it was not clear when the new exhibit would be installed. The museum on Saturday did not say when in the coming weeks the new exhibit will be ready.

▶ Read more about the Smithsonian and Trump

It’s Trump’s economy now. The latest financial numbers offer some warning signs

For all of President Donald Trump’s promises of an economic “golden age,” a spate of weak indicators last week told a potentially worrisome story as the impacts of his policies are coming into focus.

Job gains are dwindling. Inflation is ticking upward. Growth has slowed compared with last year.

More than six months into his term, Trump’s blitz of tariff hikes and his new tax and spending bill have remodeled America’s trading, manufacturing, energy and tax systems to his own liking. He’s eager to take credit for any wins that might occur and is hunting for someone else to blame if the financial situation starts to totter.

But as of now, this is not the boom the Republican president promised, and his ability to blame his Democratic predecessor, Joe Biden, for any economic challenges has faded as the world economy hangs on his every word and social media post.

▶ Read more about the state of the U.S. economy under Trump