Happy Monday. With the combination of perfect spring weather, cherry blossoms reaching peak bloom, the kite festival and a Nationals day game, Washington was positively bursting this weekend. This is what I mean. And this. And this. And this. Oh, and the line to get into the zoo. 😅

In today’s issue:

• Trump’s first big report card
• Wednesday’s tariffs may include *every* country
• Stocks sink ahead of Wednesday’s tariffs
• Trump’s upcoming dinner with critic Bill Maher (!)

Stock markets dipped this morning in anticipation of President Trump’s major tariff announcements.

What we know: Trump has dubbed Wednesday “Liberation Day.” He’s expected to announce reciprocal tariffs as part of his growing trade war.

The tariffs may be broader than you may think: Trump said that his tariffs will include ALL countries, not just countries with the largest trade imbalances. This is notable considering several Trump administration officials have suggested the tariffs would be for roughly 10 to 15 countries.

How the market reacted: Stock markets took a hit today as the world braces for the U.S.’s tariffs. “The S&P 500 fell more than 1 percent at the start of trading, extending recent losses. The index is on track for its worst month since September 2022, on concerns that Mr. Trump’s tariffs could recharge inflation and dampen consumer sentiment.” (The New York Times)

What’s also happening this week: The March jobs report comes out Friday. Economists are bracing for this month’s report, which may show the job losses from Elon Musk’s massive federal government purge.

Senate Republicans are warning Trump that if he tries to impeach the judge who ruled against his Venezuelan deportations, it will be dead on arrival, according to The Hill’s Alexander Bolton.

Plus: “Senior Senate Republicans also say they will oppose any effort by Speaker Mike Johnson (R-La.) to defund federal courts that rule against Trump’s agenda, sending a message that they want to de-escalate Trump’s war against the federal judiciary.”

Read Bolton’s reporting: ‘Senate Republicans urge Trump, allies to stop threatening courts’

The Hill’s Dominick Mastrangelo made an interesting observation of Trump: If a journalist shouts questions at the president, Trump then sometimes acts on them.

Like: Trump was asked about Tesla violence happening at dealerships. Trump then launched a task force to investigate those incidents.

And: A reporter asked Trump if he would compensate the stranded astronauts who didn’t receive overtime pay. Trump then promised to pay those astronauts even if it was out of his “own pocket.” Read more examples

A tree with a lot of history is being removed: The White House will remove a nearly 200-year-old magnolia tree from its grounds because it’s in “terrible condition” and poses a safety hazard. 😔 The seeds are said to be brought by former President Jackson’s home in Tennessee.

What I would give to be a fly on the wall of this dinner: Trump announced Sunday that he will have dinner with talk show host and Trump critic Bill Maher as a favor to musician Kid Rock. 🔎 Read Trump’s full explanation

Two special elections happening Tuesday in Florida are getting a lot of national attention. Both are deep red districts where Trump comfortably won by more than 30 points in November. But Republicans are not doing as well as expected, prompting alarm among the GOP. This could be the first big report card for the Trump administration’s dizzying start.

The first is straightforward — Florida’s 1st Congressional District: The election to replace former Rep. Matt Gaetz (R-Fla.), whom Trump first picked to be his attorney general but then withdrew amid sexual misconduct allegations that Gaetz denies. Republican Jimmy Patronis is facing Democrat Gay Valimont.

But the second is getting more attention — Florida’s 6th Congressional District: The election to replace Trump’s national security adviser Mike Waltz, who gave up his House seat to join the administration. Republican state Sen. Randy Fine is facing Democrat Josh Weil.

Weil has raised an eye-popping $9.5 million, so Fine donated $600,000 to his own campaign to close the gap, per The New York Times. Weil has $1.3 million cash on hand while his Republican opponent has roughly $93,000.

An internal poll from a Republican firm shows Weil with a 3-point lead.

Republicans seem nervous: “A top Trump adviser recently confronted Fine about the need to step up his effort, and House GOP campaign chief Richard Hudson and House Majority Whip Tom Emmer each separately told Fine to ‘get his s— together,’” CNN reports.

They’ve brought in the big guns: Trump called into two virtual town halls, and Elon Musk’s PAC has poured more than $76,000 into the race in the past week, per The Hill’s Julia Manchester. 

Why this matters so much for Republicans: The GOP already has such an uncomfortably small margin in the House to pass Trump’s legislative agenda. Those nerves were on full display last week when the White House yanked Rep. Elise Stefanik’s (R-N.Y.) nomination to be U.S. ambassador to the United Nations because they needed her to stay in the House to help their numbers.

💡 For context: Republicans are still favored to win — it’s a *very* Republican district, after all. (Trump won it by 30 points and Waltz won by 33 points.) But Florida Gov. Ron DeSantis (R) is telling Republicans to brace for “a way underperformance.” Fine could win and it could still be energizing for Democrats if Republicans’ lead is cut by 15 or 20 points. It’s also worth noting that special election turnout can be unpredictable, so this is not a perfect report card.

The Hill’s Amie Parnes and fellow veteran journalist Jonathan Allen are publishing a new book on the 2024 presidential election. In a new excerpt exclusively shared with The Hill, Parnes and Allen report that while Democratic officials publicly downplayed fears that former President Biden was too old and frail to serve another term, “privately, some of them worried all along that they were putting too much stock in an old man who, at best, had long since lost his fastball.” Read the full excerpt

The book comes out tomorrow! Preorder it here: ‘Fight: Inside the Wildest Battle for the White House’

• The Hill: Republicans look to avert humiliation in Florida special election
• The New York Times: A Special Election That Was Supposed to Be a Snoozer Is Suddenly Buzzing
• The Washington Examiner: Josh Weil eyes upset in Florida, appealing to seniors and veterans angry with DOGE cuts

The House and Senate are in. President Trump is in Washington.  (All times EST)

1 p.m. Trump signs executive orders.

2:30 p.m. The NASA astronauts who were in space for roughly nine months hold a news conference. 💻 Livestream

5:30 p.m. Trump signs more executive orders. 💻 Livestream

5:30 p.m. The Senate votes. 📆 Today’s agenda

6:30 p.m. First and last House votes. 📆 Today’s agenda

🥔 Celebrate: Today is National Tater Day.

🎷 Because we were all eagerly awaiting the “SNL” mention of the Signal chat: The cold open of this weekend’s “Saturday Night Live” episode spoofed the Trump administration’s national security group chat snafu. 📹 Watch the cold open  📹 Watch ‘Weekend Update’

🥤 Why diet soda may cause weight gain: A new study links artificial sweeteners with brain changes that increase people’s appetites.

To keep the good vibes flowing, watch these dogs’ reactions when they’re told they are good boys and girls.

📺 Miss yesterday’s newsletter? Catch up with a 1-minute recap. Send feedback, tips and favorite cookie recipes 🍪 to cmartel@digital-release.digital-release.thehill.com. Check out more newsletters here. See you next time!