| Ukrainian President Volodymyr Zelenskiy cut short a trip to South Africa today after Russia hit Ukraine with a barrage of missiles and drones overnight, killing at least nine people. The attack, one of the worst this year, came after President Donald Trump ratcheted up pressure on Kyiv to accept US proposals for a peace deal that critics say will favor Moscow.  Emergency personnel at the site of a Russian missile attack in Kyiv today. Photographer: Genya Savilov/AFP/Getty Images Confronted with fresh warnings from financial markets, business leaders and top advisers, Trump has eased off from attacks on two of his favored punching bags: Federal Reserve Chair Jerome Powell and China. Beijing is maintaining its tough stance on trade, demanding today that the US revoke all unilateral tariffs and saying that there are no talks on reaching a deal. Trump’s administration, meanwhile, is considering whether to reduce certain levies targeting the auto industry, sources say. Beijing may be about to drop sanctions it imposed on European lawmakers four years ago, according to the Financial Times newspaper, a move that could improve China’s ties with the European Union. China and the 27-nation bloc engaged in tit-for-tat sanctions over human rights in Xinjiang that derailed ratification of a comprehensive investment deal. US Congressman and Trump ally Cory Mills held talks with Syrian President Ahmed Al-Sharaa on conditions for the removal of economic sanctions and peace between the war-ravaged nation and Israel. Qatar and Saudi Arabia have said they are willing to support Sharaa economically but are being held back by US sanctions. US Treasury Secretary Scott Bessent called for a course correction for the International Monetary Fund and World Bank, while highlighting that they serve “critical roles” and the Trump administration is willing to work with them. The so-called Bretton Woods institutions have been in the spotlight after Trump expressed skepticism over US commitment to international organizations and security partnerships, including the United Nations and NATO. The arrival of Mark Carney — the former Goldman Sachs banker, two-time central bank governor and Brookfield Asset Management chair — to replace Justin Trudeau as Canadian prime minister has drawn support from some executives away from Conservative Leader Pierre Poilievre ahead of Monday’s election. South Africa’s National Treasury said it plans to scrap a proposed tax increase that threatened to rupture the nation’s coalition government. Australia’s ruling Labor party pledged to create a critical-minerals reserve if it wins the May 3 election, seeking to secure supplies of the crucial materials as global trade headwinds grow. South Korea’s leading candidate in the June 3 presidential election promised an expansion of renewable energy, but his much anticipated announcement on power was missing details on one key source: nuclear. Trump plans to mark the 100-day milestone of his second term on Tuesday in the carmaking hub of Macomb County, Michigan, a bastion of blue-collar workers whom he says he’s protecting with his tariff policies. On the new episode of Trumponomics: What are the long-term implications of Trump’s attacks on Federal Reserve Chair Powell? Host Stephanie Flanders is joined by Krishna Guha, vice chairman of Evercore ISI and head of its Global Policy and Central Bank Strategy Team, and Bloomberg managing editor Kate Davidson. Listen on Apple, Spotify, or wherever you get your podcasts. | 
