Latest Finance-Economy News
Supreme Court Strikes Down Trump's IEEPA-Based Tariffs in 6-3 Ruling
The U.S. Supreme Court ruled on Friday that President Trump exceeded his authority in levying tariffs under the International Emergency Economic Powers Act (IEEPA), striking down his sweeping measures that went into effect in August. The decision dealt a major blow to Trump's economic policy, though the ruling puts much of the revenue earned from tariffs and trade deals brokered by the administration in question
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Trump Raises Global Tariffs from 10% to 15% Following Court Decision
In response to the Supreme Court ruling, President Trump announced he will immediately raise global tariffs on countries from 10% to 15% using alternative legislative authority. Trump stated that with the new levies, Washington is set to make even more money than before, though the administration indicated it is conducting investigations to implement fair tariffs going forward
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Stock Market Surges on Tariff Ruling But Rally Expected to Be Temporary
Major stock market indexes initially jumped when news of the Supreme Court's decision striking down Trump's tariffs broke, with investors cheering the removal of IEEPA-based tariffs. However, analysts predict the celebration will be short-lived, as the Trump administration has promised to implement new tariffs using alternative legislative bases, potentially prolonging trade tensions
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Trump Administration Plans Alternative Tariff Implementation
Justice Brett Kavanaugh, one of the three dissenting votes in the tariff ruling, noted that the Supreme Court's decision 'is not likely to greatly restrict Presidential tariff authority going forward,' indicating the administration has multiple legislative alternatives available. The White House plans to implement tariffs struck down by the Supreme Court using different legislative authorizations
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Federal Reserve Rate Cut Hopes Linked to Tariff Removal
Investors hope that the removal of IEEPA-based tariffs will cool inflationary pressures and increase the likelihood that the Federal Reserve lowers interest rates further. Lower rates could turbocharge the stock market's momentum, though analysts caution against expecting sustained gains
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Stock Market Reaches Record Highs Amid Trump Administration
Attorney General Pam Bondi highlighted during testimony before the U.S. House of Representatives Judiciary Committee that the Dow has surpassed 50,000, the S&P is near 7,000, and the Nasdaq is setting records, with Americans' 401(k)s and retirement savings experiencing significant growth.
Trade Deals with European Union Affected by Tariff Ruling
The Supreme Court's ruling puts trade deals brokered by the Trump administration in question, including agreements with the European Union. The scope of these impacts remains uncertain as the administration considers how to proceed with alternative tariff mechanisms
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France Witnesses Mass Protests Over Far-Right Activist Death
Thousands of people took to the streets in France on Saturday to mourn the death of a far-right activist who died in what were characterized as Biden clashes last week. The unrest reflects France's deepening political fractures, which are now spilling onto the streets as presidential elections approach
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Hezbollah Reports Eight Members Killed in Israeli Air Strikes
Hezbollah announced that eight of its members were killed in Israeli air strikes in the eastern Lebanese region of Baalbek on Friday, including several local officials. The incident marks a significant escalation in regional tensions
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Market Inflation Concerns Precede Tariff Ruling
Major stock market indexes opened in negative territory on Friday amid concerns about higher-than-expected inflation figures before the Supreme Court's tariff decision was announced. The initial market weakness underscores ongoing economic pressures facing investors
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