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Trump 2nd term live updates: Trump defends tariffs, declines to comment on Ukraine aid

Trump said tariffs will be the "greatest thing we've ever done as a country."

President Donald Trump is defending his decision to pause some tariffs to Canada and Mexico for another month -- a notable reversal after imposing historic levies on the key U.S. trading partners earlier this week, causing markets to tumble.

On Friday, Trump signed more executive orders at the White House before he convened a first-ever cryptocurrency summit with industry leaders.

Mar 05, 2025, 3:12 PM EST

White House confirms direct talks with Hamas over hostages in Gaza

White House press secretary Karoline Leavitt seemed to confirm that Adam Boehler, President Donald Trump's envoy for hostages, met with Hamas officials in Doha in past weeks, telling reporters that negotiations are ongoing.

White House press secretary Karoline Leavitt speaks with reporters in the James Brady Press Briefing Room at the White House, March 5, 2025, in Washington, D.C.
Alex Brandon/AP

Leavitt was asked about the United States' long-standing position of not negotiating with terrorists and why the administration is now directly talking with Hamas. Axios reported that Boehler was in Doha to discuss with Hamas releasing the remaining American hostages and the possibility of a broader deal to end the war.

"Well, when it comes to the negotiations that you're referring to, first of all, the special envoy who's engaged in those negotiations does have the authority to talk to anyone. Israel was consulted on this matter. And look, dialogue and talking to people around the world to do what's in the best interest of the American people is something that the president has proven is what he believes is good-faith effort to do what's right for the American people," Leavitt said.

-ABC News' Kelsey Walsh

Mar 05, 2025, 2:38 PM EST

Macron warns French residents to prepare for US 'not to be by our side'

In a nationwide address, French President Emmanuel Macron said the French need to be prepared for the United States not to be by their side.

"I want to believe that the U.S. will stand by our side, but we have to be ready for that not to be the case," he said.

French President Emmanuel Macron speaks during a joint press conference with US President Donald Trump in the East Room to the White House in Washington, D.C., on Feb. 24, 2025.
Ludovic Marin/AFP via Getty Images

-ABC News' Will Gretsky

Mar 05, 2025, 2:31 PM EST

US should 'privatize anything that can be privatized,' Musk says

Elon Musk spoke about his efforts with DOGE in an interview at a Morgan Stanley conference on Wednesday, arguing that the U.S. government should "privatize anything that can be privatized."

Musk, who prefaced his response by saying it was just his opinion and that he thinks it would require "some congressional approval," singled out the U.S. Postal Service and Amtrak.

White House Senior Advisor to the President, Tesla and SpaceX CEO Elon Musk walks with Sen. Rick Scott as they arrive for a meeting with Senate Republican at the U.S. Capitol, on March 5, 2025, in Washington, D.C.
Kevin Dietsch/Getty Images

Musk could have a business interest in the privatization of rail in the United States, given his projects like Hyperloop.

"I think we should privatize anything that can be privatized. You've got a feedback loop for improvement," Musk said.

-ABC News' Will Steakin

Mar 05, 2025, 1:54 PM EST

White House: Trump 'open' to hearing about additional tariff exemptions

White House press secretary Karoline Leavitt was asked if there will be any other tariff carveouts after she announced a temporary exemption for the Big Three automakers.

"The president is open to hearing about additional exemptions. He always has open dialogue, and he'll always do what's right, what he believes is right for the American people," she said, though she didn't commit to anything specific or elaborate.

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