Republicans are now, for the most part, standing by Donald Trump in his trade war. But dissent is brewing within the party, and Democrats are salivating at their own newly brightened prospects.

After the thrill of Trump’s first two months in office, a torrent of tariffs and a big loss in Wisconsin are giving Republican lawmakers a glimpse of the grim midterm battles ahead. “It’s starting to feel a lot like 2018 with a backlash to Trumpism,” says a Republican pollster. “The Trump honeymoon collapsed with the stock market.”

With his $25 million bankroll, gusher of X posts, and cheesehead-festooned I.R.L. antics, Elon Musk turned the Wisconsin Supreme Court election into a referendum on himself—and received a drubbing. Will the smackdown mark the beginning of the end of his tenure as Donald Trump’s co-president?

Evaluating the early bellwethers in Wisconsin and Florida, the health of the Dem #Resistance, and the Elon of it all.

The early maneuvering of a dozen-plus Democrats to fill the party’s leadership void has triggered an early frenzy among consultants and operatives scouting a generational talent pool… and a billion-dollar opportunity.

The formerly ostracized New York progressive has moved into her party’s mainstream, and everyone is trying to anticipate her next moves. A groundswell is building for her to defenestrate Schumer. But that’s just one of the higher offices her team is considering.

Ro Khanna, the ambitious Silicon Valley congressman and Bernie acolyte, just wrapped a three-city listening tour to rally despondent Democrats, let them vent, and offer a little hope. Mostly, though, he wants them to face up to the hard work ahead. “We can speak out, but there’s not much we can do beyond organizing and mobilizing in districts and being vocal,” Khanna told me. “And that’s the reality of the situation.”