Here are some of the stories making news in Washington and politics today. _____________________• President Trump’s latest threat — a 5 percent tariffs on all goods imported from Mexico, rising to as high as 25 percent until the Mexican government stems the flow of migrants — has riled Republican senators, who fear its impact on the economy. In a contentious meeting at the Capitol on Tuesday, Senate Republicans told senior White House officials that they were prepared to overturn the tariffs if Mr. Trump pushed forward. • The president’s escalating trade war could prompt the Federal Reserve to cut interest rates if the economy weakens, with its chairman, Jerome H. Powell, saying Tuesday that the central bank is prepared to act to sustain the economic expansion if needed. • On the second day of Mr. Trump’s visit to London, the prospect of a “phenomenal” trade deal with the United States if Britain leaves the European Union divided politicians and fired up thousands of protesters on the streets.

Source: New York Times June 05, 2019 04:30 UTC