Trump's tariff threats against Mexico, Canada and China generated market turbulence through morning trading, with the Dow dropping 550 points. By afternoon, Mexico secured a one-month pause by committing 10,000 troops to border control. Canada followed with its own 30-day reprieve after pledging enhanced border security and a "Fentanyl Czar."
The USAID crisis deepened as Musk announced Trump's approval to "shut down" the agency. Staff were locked out of headquarters while Marco Rubio was appointed acting administrator. Democrats attempted to block State Department nominees in response.
Trump created a U.S. sovereign wealth fund, with reports indicating TikTok as a potential first acquisition. Musk received an unpaid government position. The Grammy Awards saw Beyoncé win her first Album of the Year, while Kendrick Lamar took Record and Song honors.
Panama announced withdrawal from China's Belt and Road Initiative following Rubio's diplomatic visit.