The US Supreme Court ruled 6-3 that most of Donald Trump's tariffs were illegal, criticizing their legal basis under a 1977 law, marking the first invalidation of his second-term policies. In response, Trump condemned the justices, calling them "fools" and "disloyal," and signed an executive order imposing a 10% global tariff, which was set to take effect on February 24. This decision and the reaction highlight ongoing tensions over Trump's trade policies and judicial authority.
After losing a case at the Supreme Court, Donald Trump announced plans to implement global tariffs again by leveraging authorities under the 1974 Trade Act. He initiated these steps late Friday.
President Donald Trump publicly criticized the six Supreme Court justices who voted to strike down his administration's global tariffs, calling them "absolutely ashamed" and suggesting they lacked the courage to do what is right. He also alleged that the court was influenced by foreign interests and targeted his appointees, Justices Gorsuch and Coney Barrett, as an "embarrassment," while praising Justices Thomas, Alito, and Kavanaugh for siding with him. The ruling marked a significant setback for Trump's economic policies, and his reaction was notably personal and combative.
President Trump has signed an order imposing a 'temporary' 10 percent global tariff using Section 122 of the Trade Act of 1974, which authorizes the president to impose tariffs up to 15 percent to address significant trade concerns.
The U.S. Supreme Court invalidated President Trump's use of emergency powers to impose tariffs, ruling 6-3 that the Constitution grants Congress authority over taxation, including tariffs. Trump criticized the decision and announced his intention to use alternative statutes to implement tariffs, despite limited legal authority under those laws. The ruling also leaves unresolved whether businesses can recover the tariffs paid, with lower courts tasked with addressing refund procedures. The decision highlighted the Court's vigilance in fiscal matters and revealed ongoing divisions among the justices.
Changpeng Zhao attended the World Liberty Financial crypto summit at former President Donald Trump's residence for the first time after serving a four-month prison sentence.
President Donald Trump's family-owned crypto venture, World Liberty Financial, hosted its inaugural World Liberty Forum at Mar-a-Lago, bringing together financial executives, regulators, celebrities, and political figures. The event featured discussions on institutional finance, digital assets, and political influence, with notable attendees including CEOs from Goldman Sachs, Franklin Templeton, Binance, NYSE, NASDAQ, and Coinbase, as well as Republican senators and celebrity Nicki Minaj. The forum announced initiatives such as expanding its USD1 stablecoin and tokenizing revenue interests in Trump properties, highlighting the increasing integration of cryptocurrencies with mainstream finance and political interests. The gathering drew criticism for its unusual nature, raising concerns about the influence of private business on financial regulation and policy.
Following the arrest of former Prince Andrew, U.S. lawmakers have called for legal action against Jeffrey Epstein’s U.S. associates, emphasizing accountability for those connected to Epstein's crimes. The arrest was linked to allegations of misconduct and involved searches of Andrew's residence, though he has not been charged. Survivors of Epstein's abuse praised the police for their efforts, while U.S. officials and lawmakers urged the Justice Department to pursue justice against other individuals associated with Epstein.
Following the recent release of over 3 million pages of Jeffrey Epstein files, several high-profile individuals have resigned or faced calls to step down due to their alleged connections with Epstein. Notable resignations include Hyatt Hotels heir Thomas Pritzker, Goldman Sachs lawyer Kathy Ruemmler, DP World CEO Sultan Ahmed bin Sulayem, and others such as members of the UK House of Lords, the Norwegian ambassador, and officials in Slovakia and France. While none of the individuals have been formally accused of wrongdoing, the disclosures have prompted widespread public and political scrutiny.
The U.S. Supreme Court ruled that President Trump exceeded his authority in imposing tariffs using a law intended for national emergencies, invalidating the "Liberation Day" tariffs on Canada and Mexico. Vermont Treasurer Mike Pieciak welcomed the decision, stating it prevents unlawful tax increases that impacted American businesses and consumers, although the harm caused by the tariffs cannot be undone. The tariffs resulted in over $120 billion collected from businesses and consumers, leading to layoffs and higher prices.
The Trump administration reportedly plans to carry out a military strike against Iran to pressure its officials into accepting a nuclear deal, despite lacking evidence of an imminent threat. While the White House claims Iran’s nuclear facilities have been "obliterated," experts and official statements indicate that Iran’s nuclear program was only temporarily setback, not destroyed. The buildup of military force echoes past conflicts like Iraq, but public opposition to war with Iran remains high.
An Essex County man was sentenced to 135 months in prison for multiple firearms offenses, including possession of a firearm modified with a switch to make it fully automatic. Law enforcement found the firearm during a search of his bag.
