Trade do-over. The Trump administration officially decided not to renew the U.S.-Mexico-Canada trade agreement, starting a 10-year process to resolve conflicts among the countries or discard the pact.

The U.S. refused to bless a new, 16-year term for the deal during a virtual meeting among the three North American trading partners.

“The United States will continue to engage with Mexico and Canada to address the agreement’s shortcomings and our trade deficits with these countries,” U.S. Trade Representative Jamieson Greer said.

Mr. Trump’s first administration negotiated the USMCA to replace the North American Free Trade Agreement, which was established during the Clinton administration in 1994. At the time, the Trump administration hailed the deal as “the fairest, most balanced and beneficial trade agreement we have ever signed into law.”

But Mr. Trump has soured on the pact. Last year, the U.S. had a $46 billion trade deficit in goods with Canada and a $197 billion deficit with Mexico.

Mr. Trump has a surplus in his own wallet, with his personal income growing by more than $2.2 billion last year. Income from his family real estate business was overshadowed by his crypto-related ventures, which brought him more than $1 billion in 2025.

It’s believed to be, far and away, the most that a sitting president has ever enriched himself in office.

Financial disclosure documents show that the president earned more than $635 million from a licensing agreement for his $Trump meme coin, which launched three days before he took office last year.

He also had $236 million in income from selling WLFI cryptocurrency tokens through World Liberty Financial, the crypto company founded by Mr. Trump, White House special envoy Steve Witkoff and their sons in 2024.

He sold equity worth more than $65 million associated with World Liberty Financial and more than $290 million in income from cryptocurrency wallets associated with World Liberty.

Mr. Trump told reporters, apparently with a straight face, that he is not profiting from being president.

“I’m profiting because the stock market is going up. Everybody is profiting,” he said, adding, “Thank you, President Trump.”

Farmers are hurting from Mr. Trump’s tariffs, as well as the high costs of diesel fuel and fertilizer resulting from his war with Iran. So the Department of Agriculture rolled out a $500 million project funded by taxpayers to fast-track fertilizer production in the U.S.

Agriculture Secretary Brooke Rollins announced the national initiative to provide agricultural producers with additional domestic fertilizer options and strengthen the U.S. fertilizer supply chain. The program is intended to begin or expand independent domestic fertilizer production capacity.

“Our goal is simple: We want fertilizer plants built in America, and we are willing to prioritize it,” she said.

The nation’s 250th birthday celebration is prompting some historians to compare Mr. Trump’s emphasis on states’ rights, national self-sufficiency, American First foreign policy and a revival of manufacturing to the vision of America’s founding fathers.

While historians hotly debate the issue, many of them see much of the Founding Fathers in Mr. Trump’s agenda, from Alexander Hamilton’s economic nationalism to John Jay’s fear of being overly reliant on foreign economies to Ben Franklin’s anti-immigration stance and Thomas Jefferson’s fear that a too-powerful federal government would trample states’ independence.

Herding cats. A group of House Republican rebels blocked their leadership, again, from bringing bills to the floor, forcing leaders to send the chamber home early for the second week in a row.

The protest centers on stalled GOP priorities such as the SAVE America Act (Mr. Trump’s cherished election-integrity bill) and a sweeping border security package known as HR 2.

“We’re at a place where we have to continually ask for our leadership to fight,” said Rep. Eric Burlison, Missouri Republican. “I don’t see the fight in them.”

House Speaker Mike Johnson saw not a bus accident, but a sausage factory.

“This is life with a small margin, small majority and we’ll work through it,” said Mr. Johnson, Louisiana Republican. “We’re nearing an election. People get very emotional about things, and sometimes they make irrational decisions. I don’t hold grudges against anybody. I just got to get all the team members back working in the same direction.”

Democratic socialists may be heading for a day when we drop “Democrat” from the party on the left and simply call them socialists. The far-left liberals achieved a fresh set of bragging rights after Melat Kiros unseated 15-term Rep. Diana DeGette in Colorado’s 1st Congressional District primary.

It was the latest sign that the party’s left flank is increasingly willing to topple its own establishment. Ms. Kiros, 29, a first‑time candidate, beat Ms. DeGette by almost 10 points.

Ms. Kiros pledged to take the fight to Mr. Trump and the “oligarchy,” abolish Immigration and Customs Enforcement, pass Medicare for All, and reject corporate PAC money.

The victory in Denver came a week after three democratic socialists won New York congressional primaries with a helping hand from Mayor Zohran Mamdani, who has become the movement’s poster boy after bulldozing over the party’s establishment a year ago.

Women’s sports. The Supreme Court ruled that states can bar transgender women from competing in women’s sports leagues, as the justices continued to shy away from making major constitutional pronouncements about transgender rights.

Ruling 6-3, the high court upheld laws in Idaho and West Virginia that bar transgender athletes from competing in girls’ school sports. The ruling will likely also protect similar laws in 25 other states.

Justice Brett M. Kavanaugh celebrated the advancement of women’s sports in recent decades and acknowledged conservative states’ fears that transgender athletes could upend that progress.

But the ruling does not affect other states that have permissive policies toward transgender athletes. The high court likely will have to grapple with that eventually.

In another major ruling, the high court gave approval for political parties to coordinate their spending with their candidates, saying a long-standing bar on coordination violates core First Amendment speech rights.

The 6-3 decision doesn’t necessarily change how much money will be raised and spent, but it does change how the major party operations such as the Democratic National Committee or the National Republican Congressional Committee can spend it.

In particular, it means the parties can try to wield more influence over candidates.

The justices also granted presidents wide-ranging authority to fire senior officials over policy differences but said some limits must be observed.

In a pair of decisions, the justices approved Mr. Trump’s firing of Rebecca Slaughter, a Federal Trade Commission member booted over political differences. Still, the high court continued to block Mr. Trump’s firing of Lisa Cook from the Federal Reserve, saying he did not give her a chance to challenge his justification for firing her, namely that she engaged in alleged mortgage application misconduct.

Taken together, they give the president vast powers to fire people he sees as roadblocks to his agenda, even at so-called independent agencies that Congress had sought to insulate from such presidential meddling. Yet the ruling demonstrates the president faces stricter procedural hurdles when attempting to remove an official under a statutory “for cause” protection.

The Times Editorial Board urges Republicans not to worry about a blue wave in November.

There is no room in American government for socialism, argues Emilio T. Gonzalez.

The most “surprising and impressive achievement” of the American Colonists 250 years ago was convincing most of the settlers to support independence from Britain — a position they had originally opposed or ignored, writes Tommy Behnke.