The U.S. Supreme Court formally invalidated President Donald Trump's use of emergency tariffs, ruling by a 6-3 majority that the president lacked the authority to impose such tariffs under a 1977 law, as tariffs are considered taxes which Congress must authorize. In response, Trump announced he would use other statutory authorities to implement tariffs, such as Sections 122, 232, and 301, though these measures face potential legal and Congressional challenges. The ruling and subsequent actions have significant implications for ongoing trade policies, international relations, and the collection of tariffs, which have already contributed to higher prices and substantial revenue, though trade deficits have continued to grow.
Congress is unlikely to pass legislation to codify President Trump's tariffs following the Supreme Court's ruling, according to Speaker Mike Johnson. He indicated that achieving consensus on such tariffs would be challenging and suggested that more attention will be on the executive branch's response rather than legislative action. Johnson also expressed skepticism about including Trump’s tariffs in future budget reconciliation bills.
The Education Department has announced a partnership with the State Department to track foreign gifts and contracts received by U.S. colleges and universities, with the aim of enhancing compliance with reporting laws such as Section 117. Critics express concerns that this collaboration could lead to increased federal scrutiny and potential politicization of investigations, while the Department states it will maintain oversight of the program. The initiative includes developing a public reporting portal with the help of Palantir, and raises questions about the scope of State Department's expertise in academic admissions and compliance enforcement.
The US emphasizes the importance of negotiations with Iran over its nuclear program, with Defense Secretary Pete Hegseth stating that all options, including military actions, remain on the table if Iran refuses to make a deal. President Trump reiterated his authority to decide on military intervention and expressed a preference for a diplomatic solution, while preparing for possible contingencies. Iran and US delegations are scheduled to meet in Geneva on Thursday to discuss a potential nuclear agreement amid rising regional tensions.
Defense Secretary Pete Hegseth is scheduled to meet with the CEO of Anthropic amid ongoing tensions over the U.S. military's planned use of Anthropic's AI system. The conflict has persisted for months, highlighting differences over AI deployment in military applications.
Defense Secretary Pete Hegseth provided an update on the Trump administration’s efforts to release government files related to UFOs and extraterrestrial life, stating that his department is actively reviewing relevant documents in compliance with an executive order from President Trump. While he did not specify a timeline, Hegseth indicated that more information would be forthcoming and acknowledged the public and governmental interest in the subject. He also remarked that he is reviewing the matter alongside the public and did not definitively believe in the existence of aliens.
The US Supreme Court's decision to block President Trump's "reciprocal" tariffs has increased global trade uncertainty, prompting the European Union to pause its ratification of an agreement with Washington and leading to postponed negotiations by India. In response, the Trump administration plans to implement a new 15% across-the-board import tariff, which may marginally lower overall tariffs but still impacts multiple economies, including the UK and Australia. While US officials assert that existing trade deals remain intact, the ruling and new tariffs are expected to sustain a highly uncertain international trade environment. Countries across Asia and others are closely monitoring developments, with some seeking clarity on whether the new tariffs will affect their trade arrangements.
The death of drug cartel leader Nemesio “El Mencho” Oseguera Cervantes following a Mexican military shootout is seen as a significant event in Mexico’s effort to combat powerful drug organizations, with the United States supporting the crackdown and urging further action. While the operation may temporarily weaken the cartel, experts warn it could lead to increased violence and instability, risking political and economic repercussions for Mexico. The event highlights ongoing US-Mexico tensions over drug enforcement policies and the complexities of dismantling drug cartels without exacerbating violence.
European officials have delayed ratification of a US-EU trade deal amid uncertainties over President Trump's announcement of a 15% global import tariff, which could breach the agreement's tariff ceiling. The EU seeks clarification from the US on how the new tariffs, which take effect soon, align with their existing deal, while the US has indicated plans to proceed with tariffs regardless of legal rulings. This development has raised concerns about potential impacts on international trade agreements and the broader economy.
Donald Trump's global tariff has been implemented at a rate of 10%, despite his prior statements indicating he would increase the levy to 15%. The article also includes promotional offers for FT digital subscriptions.
US President Donald Trump's new 10% global tariffs are now in effect, despite earlier indications that the rate would be higher, and no increase has been implemented. The tariffs, imposed under Section 122 of the 1974 Trade Act, are intended to address international payments issues and trade imbalances, but the move has increased uncertainty and the risk of a trade war. The Supreme Court ruled that Trump exceeded his authority with previous tariffs, leading to legal challenges and calls for refunds from companies like FedEx, while other countries have indicated they may respond with retaliatory measures.
President Donald Trump's global tariffs officially began at a rate of 10%, despite earlier statements indicating they would start at 15%. The tariffs, implemented under a different trade law after the Supreme Court invalidated much of Trump's previous tariff authority, are temporary and can be raised to 15% within 150 days. This back-and-forth has caused confusion among markets, trading partners, and businesses, with some countries like the EU halting upcoming trade agreements due to the uncertainty.
