| Trump suggested his administration could strike trade deals with some countries as soon as this week, and separately indicated he’s willing to lower tariffs on China at some point because the levies are so high that the two nations have essentially stopped doing business with each other. He also announced he plans to impose a 100% tariff on movies produced overseas, hitting the entertainment sector for the first time. Trump insisted he doesn’t plan to fire Federal Reserve Chair Jerome Powell despite his sustained criticism over the pace of interest-rate cuts, telling NBC that Powell doesn’t want to reduce borrowing costs because “he just doesn’t like me because I think he’s a total stiff.” Fed officials are widely expected to hold rates steady when they meet in Washington tomorrow and Wednesday, with concerns of a possible recession mounting. Anthony Albanese’s decisive victory in Saturday’s Australian election raises the question of whether the center-left prime minister will use his mandate to push through the tough measures needed to overhaul the economy. Trump praised his “very good relationship” with Albanese, while iron-ore billionaire Gina Rinehart urged the country’s defeated conservatives to embrace the policies of the US leader.  WATCH: Bloomberg’s Ben Westcott explains the challenges ahead for Albanese. Right-wing nationalist George Simion won Romania’s first-round presidential election yesterday, pitting him against the centrist Bucharest Mayor Nicușor Dan in a May 18 runoff that will determine the future path of a frontline NATO and European Union member state. Romanian authorities were criticized by US Vice President JD Vance this year for annulling a prior vote on the grounds of Russian interference after a pro-Putin conspiracy theorist came from nowhere to place first.  Simion outside parliament in Bucharest yesterday. Photographer: Ioana Moldovan/Bloomberg Any doubts about the People’s Action Party’s ability to continue dominating Singapore’s politics after six decades in power were put to rest at the weekend. Led by Lawrence Wong in his first election as prime minster, the PAP took 87 of 97 seats in parliament. Key personnel appointments in Germany’s new government are complete after the Social Democrats opted for a mix of veterans and newcomers for their cabinet members in the new ruling coalition. Pressure is building on incoming conservative Chancellor Friedrich Merz to tackle the country’s numerous challenges once he assumes office tomorrow. The EU is set to propose measures to ban Russian gas imports by the end of 2027, as the bloc pushes to sever ties with what was once its biggest energy supplier. Iran said it’s waiting for Oman to confirm when there will be a new round of nuclear talks with the US, while also insisting it had nothing to do with Houthi missile strikes on Israel. Turkey’s main opposition leader, Özgür Özel, was slapped in the face after attending the funeral of a pro-Kurdish politician in Istanbul yesterday as tensions continue to run high. | 
