Americans love using their credit cards, the most secure and hassle-free way to pay.

But DC politicians want to change that with the Durban Marshall Credit Card Bill.

This bill lets corporate megastores pick how your credit card is processed,

allowing them to use untested payment networks that jeopardize your data security and rewards.

Corporate megastores will make more money and you pay the price.

Tell Congress to guard your card because Americans lose when politicians choose. Learn more at

guard your card.com.

President Trump threatens 50% tariffs on the European Union.

You're seeing a number of things build up here.

It's hard to know which one is the straw that broke the camel's back, but there's a lot

of ongoing frustrations from the U.S. side.

Plus, what's behind the recent turmoil around U.S. bonds.

And a federal judge halts the government's move to prevent Harvard from enrolling international students.

It's Friday, May 23rd.

I'm Alex Oslo for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

President Trump fired new salvos in the global trade war today. He threatened a 50% tariff on imported

goods from the European Union, as well as new duties on iPhones made overseas. In comments at the

Oval Office this afternoon, the president said he's not looking for a tariff deal with the EU.

I'm not looking for a deal. I mean, we've set the deal. It's at 50%.

But again, there is no tariff if they build their plan here.

I'm joined now by Gavin Bade, who covers trade for the journal.

...