Trump admin live updates: FAA flight cuts to end Monday morning

The Trump administration is taking a series of steps aimed at addressing Americans' mounting frustration over the cost of living, signaling a heightened focus on economic issues inside the White House.

According to a White House official, President Donald Trump will be increasing his domestic travel with economic speeches as part of the administration's broader midterm-year push.

After months of insisting that tariffs would not drive up prices, the White House this week announced a set of agreements with South American countries intended to lower the cost of groceries, such as bananas and coffee. The president has also floated several proposals, including a 50-year mortgage plan and $2,000 dividend payment to Americans.

Late Thursday, in a gaggle with reporters, Trump's top economic adviser, Kevin Hassett, said the administration needs to "fix" high costs in the country.

"What would you say to Americans who are continuing to feel the pinch and small businesses who have been disrupted by tariffs?" ABC News Senior White House Correspondent Selina Wang asked Hasset.

"We're making up ground fast," he said.

-Hannah Demissie and Isabella Murray

President Donald Trump is again calling the recent release of documents related to sex offender Jeffrey Epstein as a political "Hoax" in a new social media post.

"The Democrats are doing everything in their withering power to push the Epstein Hoax again, despite the DOJ releasing 50,000 pages of documents, in order to deflect from all of their bad policies and losses, especially the SHUTDOWN EMBARRASSMENT, where their party is in total disarray, and has no idea what to do," Trump wrote in the post.

The president also blasted what he called "Weak Republicans" who "have fallen into their clutches because they are soft and foolish." Trump is likely referring to the House Republicans who signed onto a discharge petition to compel the Justice Department to release the full Epstein files.

While he has weighed in on social media, Trump has yet to answer questions from reporters about the release of messages sent by Epstein that mention him.

White House press secretary Karoline Leavitt dismissed the emails in a press briefing earlier this week, saying they "prove absolutely nothing other than the fact that President Trump did nothing wrong."

U.S. Trade Representative Jamieson Greer said Friday that the U.S. has "essentially" reached a deal with Switzerland as the Swiss government announced that the deal will reduce the tariff rate to 15%.

The deal comes as Switzerland faces an extremely high tariff rate of 39% and failed to reach a deal during the 90-day window that the administration tried to secure deals.
But the Swiss government announced on X Friday that a deal has been finalized and that the reciprocal tariff rate will be at 15%, adding that more details will be announced later in the day.

"Thanks to President Trump @POTUS for the constructive engagement. The meeting @USTradeRep with Amb. J. Greer was productive," the Swiss government said in the post.

-ABC News' Michelle Stoddart and Hannah Demissie

Defense Secretary Pete Hegseth wrote in a post on X Thursday that the U.S. operation in Latin America — which has targeted alleged drug smugglers — will be known as "Operation Southern Spear."

"Today, I’m announcing Operation SOUTHERN SPEAR," Hegseth wrote.

According to a Defense official, Hegseth's post is simply about the naming of the operation. The U.S. has not announced any new military action.

"This mission defends our Homeland, removes narco-terrorists from our Hemisphere, and secures our Homeland from the drugs that are killing our people," he said. "The Western Hemisphere is America’s neighborhood — and we will protect it."

There had been eight U.S. Navy surface warships in the Caribbean Sea for several weeks, but one returned home this week, according to a Defense official.

A Navy submarine also returned home from the region. It is unclear if it was replaced by another submarine.

-ABC News’ Luis Martinez