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

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Hey listeners, it's Saturday, May 24th. I'm Jack Pitcher for The Wall Street Journal. And this is What's News

and Markets. Our look at the biggest stock moves of the week and the news that drove them.

Let's get to it. The trade war was back in focus this week after President Trump on Friday

launched new broadsides in his tariff campaign. He threatened to impose a 50% tariff rate on the European

Union within days and warned of possible 25% tariffs on foreign-made iPhones. Those are two

pillars of global commerce, one of the world's most valuable companies, Apple, and one of the

U.S.'s biggest trading partners. Another market mover this week was the president's sprawling tax and spending package.

The House of Representatives passed it on Thursday, and it's headed to the Senate.

The bill is projected to increase budget deficits by more than $2 trillion over the next decade,

raising anxiety over the U.S. fiscal outlook and prompting a government bond sell-off.

For the week, the S&P 500 dropped 2.6%, while the Dow and the NASDAQ were both 2.5% lower.

Apple investors appear to be taking Trump's threats seriously.

As I said earlier, the president said he expects iPhones sold in the U.S. to be made in the

U.S. or face a 25% tariff. Apple's phones are sourced from many countries and primarily put

together in China. Apple doesn't have U.S. manufacturing facilities. And industry experts say

efforts to build iPhones domestically would take years of investment.

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