US economic council head denies tariffs were part of strategy to crash financial markets and pressure fed to cut interest rates

Democrats have begun plotting the next phase of their electoral revival with a seven-figure spend in Virginia ahead of a vote they hope will turn into a referendum on Elon Musk.

The party, which had been despondent since Donald Trump’s victory last year, got off the canvas last week with a convincing win in a Wisconsin supreme court race and two strong congressional performances in Florida.