Top Overnight News Trump administration officials are assuring farm-state Republicans they will funnel billions of taxpayer dollars to farmers who are hit by Trump’s intensifying trade war. But it may be some time before any money is released. The administration wants to take stock of the economic fallout of the tariffs in the agriculture sector before rolling out aid, which will likely take several more months. Politico While there have been expressions of displeasure, Republicans (who could use their own votes to stop the new tariffs cold) made clear they had no intention of acting anytime soon. “I think most members on our side are very willing to give the president time,” Arkansas Sen. John Boozman said, summing up the view of many GOP lawmakers who might have qualms about Trump’s massive new levies but showed little interest — at least for now and the near future — in doing anything concrete to restrain him. Politico President Donald Trump on Thursday contradicted his top aides on the purpose of his sprawling new global tariff regime, adding to the uncertainty over the trade war that has sent markets reeling. Earlier in the day, top Trump aide Peter Navarro and Commerce Secretary Howard Lutnick said the president was not looking to strike deals over the tariffs. “This is not a negotiation,” Navarro told CNBC. But after markets closed down sharply, Trump told reporters on Air Force One that he would be open to striking deals with individual countries. WaPo US Social Security faces thousands more job cuts. The Social Security Administration is drafting plans to begin layoffs of potentially thousands more employees as soon as next week: WaPo Republicans are weighing the creation of a new bracket for those earning 1 million or more to offset some of the costs of their tax bill, a stark departure from decades of GOP opposition to tax increases. BBG China retaliated against the new US tariffs, announcing a 34% levy on all American imports starting April 10. Earlier, Donald Trump said he’s open to negotiations if other nations can offer something “phenomenal.” BBG President Trump’s jumbo tariffs on China threaten to create a new problem for a global economy already stressed over trade: a 400 billion deluge of Chinese goods looking for new markets. WSJ Japanese PM Shigeru Ishiba will meet opposition leaders today to discuss responses to the tariffs, which he said should be called a “national crisis.” BOJ Governor Kazuo Ueda said the US’s move will weigh on growth. BBG Traders now see the Fed cutting 100 bps by year-end, with a 50% chance of a cut in May. BBG