The US military conducted a strike on an alleged drug smuggling boat in the Caribbean, resulting in the deaths of three men, marking the third such attack in a week. The US Southern Command stated the vessel was engaged in narco-trafficking and confirmed no US forces were harmed, but the legality of using military force against suspected civilians has been questioned by legal experts. Since September, US strikes have killed at least 151 people in suspected drug operations.
China called on the United States to lift unilateral tariffs imposed by the Trump administration after the US Supreme Court invalidated many of his measures citing lack of authority. Following the ruling, President Trump announced new global import duties of up to 15%, set to begin soon, which China described as protectionist and harmful to global trade. China is assessing the impact of the ruling and remains vigilant about potential US actions to maintain increased tariffs.
The U.S. Supreme Court ruled that the Trump administration illegally imposed emergency tariffs under the IEEPA, potentially entitling businesses to up to $175 billion in refunds, but resolution may take years due to ongoing litigation. The administration has announced plans to apply other tariffs under different authorities, such as Section 122, which require congressional approval after 150 days. Small and mid-sized businesses, most affected by previous tariffs, may struggle to recover quickly or manage continued cost increases.
Platkin LLP and the Democracy Defenders Fund have called for an investigation into whether the Trump administration approved the export of advanced AI chips to UAE-backed G42 in exchange for a $500 million investment in Trump's cryptocurrency venture, World Liberty Financial. The letter alleges that the deal was influenced by undisclosed foreign investments linked to UAE officials, including Sheikh Tahnoon bin Zayed Al Nahyan, raising concerns about potential violations of national security and the Foreign Emoluments Clause. The groups urge the Inspector General to examine if senior officials knew about the foreign investments during the export approval process and whether President Trump or White House officials influenced the decision.
Following the Supreme Court's ruling against his tariff program, President Donald Trump imposed a 15% global tariff on all imports and criticized the justices, including two of his appointees. The administration is also awaiting court guidance on handling the $130 billion generated by the now-invalid tariffs.
Indiana officials, including Gov. Mike Braun and Attorney General Todd Rokita, announced efforts to revoke commercial driver's licenses (CDLs) issued to foreign-born truck drivers, citing safety concerns and illegal immigration enforcement. They are conducting audits of issued licenses and introducing legislation to require CDL tests only in English, with penalties for illegal drivers and their employers. Despite these measures, data shows foreign-born drivers are involved in a small proportion of fatal crashes and that overall truck crash fatalities have decreased while the number of foreign-born drivers has increased. The crackdown is partly a response to labor shortages in the trucking industry, which had led to increased foreign driver employment, especially under relaxed visa policies during the Biden administration.
The European Union is advocating for a diplomatic approach to Iran amidst threats of military strikes by the US, which has increased forces in the Middle East and threatened limited action over Iran's nuclear program. EU diplomats are set to meet with the director of Trump's newly established Board of Peace, despite divisions within the EU regarding collaboration. Meanwhile, Iran has warned that any US strike would be considered an act of aggression, and indirect negotiations mediated by Oman between the US and Iran are ongoing.
FIFA has partnered with the U.S.-led Board of Peace to support recovery and stability in conflict-affected regions, including Gaza, ahead of the 2026 World Cup in the US. The initiative involves constructing football infrastructure and promoting development programs in Gaza, with phases ranging from the creation of mini-pitches to a national stadium. The Board, chaired by former President Trump, includes members from various countries and controversial inclusion of Israel as a founding member, despite ongoing conflicts with Palestine.
USD1, a stablecoin linked to Donald Trump, briefly depegged from its $1.00 value, dropping to $0.9942 before recovering. The DeFi project World Liberty Financial attributed the dip to a coordinated hacker attack involving compromised accounts, influencer FUD, and short selling, but affirmed the coin's stability due to its backing and mechanism. The project also disclosed that a Trump-affiliated entity, DT Marks DEFI LLC, reduced its ownership stake, and that Trump and his family are not directly involved in the company's management.
World Liberty Financial claimed to have successfully defended its USD1 stablecoin against a "coordinated attack" involving hacked cofounder accounts, disinformation campaigns, and large short positions, which caused the coin's value to briefly drop to $0.98 before recovering. The company emphasized the stability and backing of USD1, supported by reserves held in custody by BitGo, and maintained that its infrastructure operated as intended amid the attack. Technical analysis shows the token breaking below support levels, with further declines possible if key resistance levels are not regained.
The passage of the Clarity Act, a key piece of crypto legislation expected to clarify regulatory treatment of cryptocurrencies, has stalled, with its likelihood of passage falling below 50%, according to Polymarket. This delay has contributed to a decline in Bitcoin's price, which has fallen below $65,000, its lowest in about a year, and has negatively impacted crypto-related stocks. The White House has set an informal deadline of March 1 for reaching a legislative compromise, but disagreements between banks and the crypto industry remain unresolved.
U.S. Attorney General Pam Bondi expressed willingness to cooperate with Congressman Tom Tiffany to seek reimbursement from the Lac du Flambeau Band of Lake Superior Chippewa for payments made by the town of Lac du Flambeau to access roads involved in a longstanding dispute. The dispute arose after the tribe barricaded four roads over expired easements, leading to legal battles and accusations of trespassing, with the town paying $600,000 to the tribe. The tribe maintains that the roads cross trust land and that the town trespassed without valid easements, while the town and residents describe significant access and safety concerns.
