Tonight, digging in just days ahead of trade talks with China, Trump makes it clear there will be no easing on tariffs as a show of goodwill.

Plus, the Fed holds steady on rates, but the chairman adds a new warning about growing risks for the economy.

And a MAGA makeover, the plan to have a far-right news network provide programming for Voice of America

as the 11th hour gets underway on this Wednesday night.

Good evening once again. I am Stephanie Rule and welcome to the midweek nightcap. It is day

108. I know it feels like a million and eight, but no, 108 days into the

second Trump administration. And today, the major stock indices closed out on a volatile day,

actually on a high. Investors were weighing the possible two outcomes. One, the upcoming trade,

U.S. trade, I can't even get any words out tonight. U.S. China trade talks that are going to happen over the next few days.

And, of course, today's Fed decision to not cut rates. The Fed explained its move in a statement saying, in part the following, quote, uncertainty about the economic outlook has increased further.

What does that mean? Tough road could be ahead. Why?

Tariffs. And this weekend, Treasury Secretary Scott Besson is set to hold the administration's

first high-level trade talks with Chinese officials, but it remains to be seen if there will be

any sort of breakthrough that ends up in a deal. This is what the president said about the talks

earlier today.

China says in order to have substantive negotiations, you have to bring down your 145% tariffs.

Are you open to pulling back your tariffs in order to get China to the negotiating table?

No.

No. And this morning on Capitol Hill, Secretary Bessent was pressed for details about these negotiations.

Here's what he said.

The trade negotiations will be led by myself and Ambassador Jameson Greer from USTR.

And what about Pete Navarro?

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