Presented by BP.

Good morning, everyone. I'm Stephen Overley. It's Monday, April 7th, and here's what's driving the day.

The House is in session, and Speaker Mike Johnson is gearing up for a hard week ahead.

GOP leaders told their members on Sunday that there will be a vote this week on a budget

blueprint, a necessary step before they can pass President Donald Trump's, quote,

one big, beautiful bill.

But fiscal hawks are already threatening to hold the party hostage.

And Johnson can only afford three Republican defectors.

Of course, a budget fight may be a welcome distraction from a stock market in freefall.

Trump's sweeping global tariffs continued to rank a Wall Street and U.S. trading partners

through the weekend. And for business-friendly

Republicans and their well-heeled donors, the nerves are really starting to show. But the stock

market slump is really just the beginning. Large trade partners like Canada and the European

Union are weighing how to best hit back. Tariffs are expected to top the agenda when Trump meets this afternoon with Israeli Prime

Minister Benjamin Netanyahu, an agenda that, frankly, was already packed with the ongoing

war in Gaza, and Trump's crackdown on pro-Palestinian protesters.

For its part, China wasted no time reciprocating.

Beijing has already slapped a 34% tariff on all U.S. goods, set to take effect this Thursday.

And that's not all. Beijing also killed a deal that would have seen U.S. investors take a

controlling stake in TikTok.

Amid all of the fallout, administration officials hit the airwaves, sending mixed messages about why all of this turmoil is actually in America's interest.

Agriculture Secretary Brooke Rawlins told CNN, it's time to negotiate.

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