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US job growth was robust in April and the unemployment rate held steady, suggesting uncertainty over President Donald Trump’s trade policy has yet to have a material impact on hiring plans.

Nonfarm payrolls increased 177,000 last month after the prior two months’ advances were revised lower, according to Bureau of Labor Statistics data out Friday. The unemployment rate was unchanged at 4.2%.

The report suggests the labor market continues to cool gradually, a sign that businesses facing heightened uncertainty around tariffs and turmoil in financial markets didn’t significantly alter their hiring plans. Most economists anticipate the brunt of the impact from punishing levies will be seen in coming months.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Economics Chief US Economist Anna Wong.
• Economic Policy Consultant Kathryn Edwards.
• Former OMB Director and former Acting White House Chief of Staff Mick Mulvaney.
• Democratic Congresswoman Mikie Sherrill of New Jersey, candidate for Governor of New Jersey.
• Democratic Michigan State Senator Mallory McMorrow, candidate for US Senate.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump blamed former President Joe Biden for weak economic data that sent stocks tumbling, arguing government data showing increased domestic investment signaled his tariffs are working.

“I have to start off by saying, that’s Biden. That’s not Trump,” Trump said Wednesday during a Cabinet meeting.

Inflation-adjusted gross domestic product decreased an annualized 0.3% in the first quarter, well below average growth of about 3%, according to initial government data published Wednesday.

“Let’s give us a pass on the first month, we were sort of getting a little bit used to things,” Trump added.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg's Michael McKee.
• American Action Forum President Douglas Holtz-Eakin.
• Bloomberg's Daniel Flatley.
• University of Michigan Professor of Public Policy and Economics Betsey Stevenson.

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Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump is scheduled to sign an executive order easing the impact of his auto tariffs, preventing duties on foreign-made vehicles from stacking on top of other levies and lessening charges on parts from overseas used to make vehicles in the US.

White House Press Secretary Karoline Leavitt said the administration would release the text of the directive, detailing the specifics of the action, later on Tuesday.

The plan would change 25% tariffs on auto part imports, expected to start May 3, by allowing carmakers to claim an offset worth up to 3.75% of the value of a US-made vehicle for one year, a senior Commerce Department official said.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg's Molly Smith.
• Fireside Strategies Partner Alex Conant.
• Bloomberg's Tyler Kendall.
• Democratic Governor Laura Kelly of Kansas, Chair of the Democratic Governors Association.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.

See omnystudio.com/listener for privacy information.