Trump admin live updates: White House drops NASA nominee with Musk ties

President Donald Trump was visibly irritated when asked about Wall Street analysts creating a new term called the "TACO" trade.

"They're saying Trump always chickens out on the tariff threats," the reporter said.

Trump grew visibly angry and called the question "nasty." He argued that it was all part of his negotiations with the countries.

"You mean because I reduced China from 145%, [then] I said down to 100, then down to another number? And I said you have to open up your whole country and because, I gave the European Union a 50% tax tariff, and they called up and they said, 'Please, let's meet right now, please, let's meet right now.' ... You call that chickening out?" he said.

House Speaker Mike Johnson is deflecting criticism from Elon Musk over the "one big, beautiful bill," insisting Congress will codify DOGE's cuts as soon as possible.

An administration official confirmed to ABC News that the White House is finalizing a $9.4 billion rescissions package to send to Capitol Hill next week, which is aimed at slashing federal spending that's already been appropriated by Congress from the executive branch.

The package attempts to claw back funding from FY2025 .

Johnson said Wednesday that the House "is eager and ready to act on DOGE's findings so we can deliver even more cuts to big government that President Trump wants and the American people demand."

"When the White House sends its rescissions package to the House, we will act quickly by passing legislation to codify the cuts," Johnson posted on X, adding that the House will use the appropriations process "to swiftly implement President Trump's 2026 budget."

--ABC News' Lauren Peller

President Donald Trump, in the Oval Office on Wednesday, discussed how he warned Israeli Prime Minister Benjamin Netanayahu not to take action to disrupt the ongoing talks for a nuclear deal between Iran and the U.S.

"I told him this would be inappropriate to do right now because we're very close to a solution," Trump told reporters.

"Now that could change at any moment, could change with a phone call. But right now, I think they want to make a deal. And, if we can make a deal, save a lot of lives trying to, sort of experiment, do you think that will happen on Iran, on which a deal with Iran could happen? Oh, I don't know. I think over the next couple of weeks, if it happens," the president continued.

On a nuclear deal with Iran, Trump seemed to feel optimistic that something would happen soon.

"But we are doing very well with Iran. And I think we're going to see some, some, something very sensible because there were only two outcomes. You know what the two outcomes is. There's a smart outcome and there's a violent outcome. And I don't think anybody wants to see the second, but I think we're -- we've made a lot of progress, and we'll see. You know, they still have to, agree to the final stages of a document, but I think you could be very well surprised what happens there and would be a great thing for them," Trump said.

-ABC News' Michelle Stoddart

President Donald Trump said that he is "going to look at" pardons for the individuals who were convicted of plotting to kidnap Michigan Gov. Gretchen Whitmer when asked by reporters in the Oval Office. He added that he thought the trial for them was a "railroad job."

"I'm going to look at it. I will take a look at it. It's been brought to my attention. I did watch the trial. It looked to me like somewhat of a railroad job. I'll be honest with you, to me, like some people said some stupid things," Trump said. "You know, they were drinking, and I think they said stupid things, but I'll take a look at that. And a lot of people are asking me that question from both sides. Actually, a lot of people think they got railroaded."

Whitmer has met with the president several times since he's returned to office and has worked with him on issues important to her state, including investing in Selfridge Air National Guard Base.

The last time Trump appeared with the Michigan governor was on April 29 at Selfridge Air National Guard Base.

ABC News has reached out to Whitmer's office for comment.

-ABC News' Hannah Demissie and Michelle Stoddart