Axios

President Trump's lunch with GOP senators devolved into a lengthy shouting match between him and outgoing Sen. Bill Cassidy (R-La.).

Why it matters: Trump's handling of the war in Iran and the Senate's passage of a war powers resolution consumed the conversation, despite Trump's renewed pressure to pass a voter ID bill and kill the filibuster.

President Trump cancelled Wednesday's planned signing of a landmark bipartisan housing bill, demanding Congress pass the unrelated SAVE America Act first.

Why it matters: Trump has been angling for Congress to pass the voting bill for months, and previously threatened to withhold his signature on any other legislation until lawmakers passed it.

In a speech in New York on Tuesday night, Treasury Secretary Scott Bessent said that a long-running bet on cheaper goods and deeper economic integration making America richer and safer had failed.

Why it matters: The speech set a framework for President Trump's economic policies since his second term, including tariffs and calls for reshoring.

• But it also suggests that those policies may be part of a broader rethinking of globalization that extends well beyond one administration.
• If that's right, investors betting on a return to the old globalization playbook may be waiting a long time.