Ruling against Trump's tariffs creates new uncertainty in US trade relations with China
WASHINGTON (AP) — The Supreme Court decision striking down President Donald Trump’s sweeping tariffs has added a wrinkle to already complicated U.S.-China relations. Both countries already are navigating shifting ground to avoid an all-out trade war that would disrupt the global economy while still jostling for a position of strength in negotiations. Friday's court ruling would seem to strengthen China’s hand, but analysts predict Beijing will be cautious in exploiting the advantage because it knows that Trump has other ways of levying taxes. Both sides also want to maintain a fragile trade truce and stabilize ties ahead of Trump’s highly anticipated trip to Beijing.
EU says US must honor a trade deal after court blocks Trump tariffs
BRUSSELS (AP) — The European Commission says the United States needs to honor its tariff deal with the EU after the Supreme court blocked parts of President Donald Trump’s trade agenda. On Sunday, the commission asked Washington for “full clarity” and said “a deal is a deal.” On Saturday, Trump attacked the ruling and called for a 15% global tariff, up from 10% he floated on Friday. The EU said sudden, unpredictable tariffs disrupt markets and supply chains. It pointed to a deal that sets a 15% import tax on much of Europe’s exports.
Department of Homeland Security suspends Global Entry as the partial government shutdown drags on
DALLAS (AP) — The Department of Homeland Security says the Global Entry program shuts down for as long as the partial government shutdown continues. On Sunday, the agency says staffing limits are forcing case-by-case changes at airports. The shutdown starts after a funding fight over the Department of Homeland Security. Democrats also push for changes to immigration operations tied to President Trump’s deportation campaign. Travel gets squeezed as a winter storm hits the East Coast from Sunday into Monday. Many Monday flights out of big Northeast airports get canceled. Global Entry speeds customs for approved travelers and also includes TSA PreCheck, which DHS now keeps running.
NYC nursing walkout ends as last striking nurses approve new contract
NEW YORK (AP) — Thousands of nurses at a major New York hospital system have approved a new contract, voting to end a strike after more than a month. The nurses’ union announced the vote results Saturday. More than 4,000 nurses in the privately run NewYork-Presbyterian system have been on strike since Jan. 12. They are now due to start returning to work in the coming week. The union, called the New York State Nurses Association, and the hospital system said Friday that they had reached a tentative deal. The union said it included staffing improvements, raises topping 12% over three years and safeguards on the use of artificial intelligence. Two other big private hospital systems ended nursing strikes earlier this month by inking similar contract agreements.
Hungary threatens to block fresh EU sanctions against Russia over oil deliveries
BUDAPEST, Hungary (AP) — Hungary is threatening to block new EU sanctions on Russia and slow EU help for Ukraine until Russian oil deliveries resume. On Monday, EU foreign ministers meet in Brussels to discuss a new sanctions package. On Sunday, Hungary’s foreign minister said Ukraine is holding back oil through the Druzhba pipeline. Ukraine says Russian drone attacks damaged the line. Hungary said it will also blocks a large EU loan for Ukraine. Slovakia backed Hungary and threatened to cut emergency electricity supplies. Ukraine has rejected what it calls blackmail. Hungary’s leader has long opposed tougher EU action on Russia.
It's a quiet box office weekend as 'GOAT' edges 'Wuthering Heights'
Sony Pictures Animation’s film “GOAT” is leading a quiet weekend at the North American box office, beating “Wuthering Heights” in a second-weekend showdown. Sunday's studio estimates show “GOAT” earning $17 million, while “Wuthering Heights” took in $14.2 million. “GOAT” dropped only 38% in its second weekend, which Sony credited to strong word-of-mouth. The Stephen Curry-produced film has passed $58 million domestically. The “Wuthering Heights” box office results fell 57% to settle at $60 million in North America. New releases like “I Can Only Imagine 2,” “How to Make a Killing” and “Psycho Killer” debuted with less than $10 million. Baz Luhrmann’s immersive documentary “EPiC: Elvis Presley in Concert" earned $3.3 million. from only 325 IMAX locations.
Murky outlook for businesses after tariff ruling prompts countermoves by Trump
NEW YORK (AP) — Businesses face a new wave of uncertainty after the Supreme Court struck down tariffs imposed by President Donald Trump under an emergency powers law and Trump vowed to work around the ruling to keep his tariffs in place. The Trump administration says its tariffs help boost American manufacturers and reduce the trade gap. But many U.S. businesses have had to raise prices and adjust in other ways to offset higher costs spurred by the tariffs. It remains to be seen how much relief businesses and consumers will actually get from Friday’s ruling. Within hours of the court’s decision, Trump pledged to sign an executive order imposing a 10% tariff on all imports that would last 150 days.
The Supreme Court struck down Trump's tariffs. Now comes the hard work of issuing refunds
WASHINGTON (AP) — The Supreme Court on Friday struck down President Donald Trump’s biggest and boldest tariffs. But the justices left a $133 billion question unanswered: What is going to happen to the money the government has already collected in import taxes that have now been declared unlawful? Companies have been lining up for refunds ahead of the court’s decision. But consumers, hoping for a refund on higher prices they paid when companies passed along the cost of the tariffs, are unlikely to be compensated. And the way forward is unclear and could prove chaotic.
Global leaders and businesses pore over fallout of more US tariff swoons
SEOUL, South Korea (AP) — Business chiefs and government leaders are poring over the fallout of a U.S. Supreme Court decision that invalidated some tariffs by President Donald Trump's administration and his response to it. In Paris, Seoul, Mexico City and beyond, officials and executives are checking the impact on bilateral or multilateral agreements reached over the last year under Trump's tariff binge. Some shrugged off Trump's threat to impose new 10% global tariffs under different rules. Others abroad are looking for payback for their own exporters or U.S. importer partners who may have paid too much.
JPMorgan concedes it closed Trump's accounts after Jan. 6 attack
NEW YORK (AP) — JPMorgan Chase now confirms it closed Donald Trump’s bank accounts after the Jan. 6 attack on the U.S. Capitol. The admission in a court filing is the latest development in a lawsuit over allegations of political “debanking." Trump sued last month for $5 billion and says the closures hurt his businesses. JPMorgan seeks to move the case from Florida to New York, where the accounts sit. Trump also accuses the bank's leader, Jamie Dimon, of misleading conduct and claims the bank put him on a reputational blacklist. JPMorgan says the suit lacks merit.
