Key Takeaways
- President Trump seeks Supreme Court approval for his global tariff regime.
- A federal court unfroze $2 billion in Harvard research funds; administration to appeal.
- Senate committee debates Stephen Miran's Federal Reserve appointment amid independence concerns.
- Epstein abuse survivors demand file release, contrasting with President Trump's dismissal.
- DeepSeek and Apple announce new AI agent and search engine plans.
Deep Dive
- A federal court ruled the U.S. illegally froze over $2 billion in research funds to Harvard University.
- The ruling cited violations of Harvard's free speech rights and a lack of proper procedures.
- Bloomberg's Lena Agolfopulu reported the court found an "anti-Semitism smokescreen" for an "ideological assault."
- The Trump administration plans to appeal the decision.
- The Senate Banking Committee is holding a confirmation hearing for Stephen Miran's appointment as a Federal Reserve governor.
- Senator Elizabeth Warren stated the hearing should investigate the president's attacks on the Fed's independence.
- Miran has publicly committed to preserving the Fed's independence.
- Survivors of Jeffrey Epstein's abuse gathered on Capitol Hill demanding the release of investigation files.
- Liz Stein, a survivor, shared her experience, stating meeting Epstein felt like "a light being shut off."
- President Trump dismissed the issue, focusing instead on the country's success.
- President Trump asked the Supreme Court to uphold his global tariff regime after lower court rulings against him.
- The case centers on whether Congress delegated tariff authority under an emergency law.
- A defeat for Trump could halve the average U.S. effective tariff rate and require tens of billions in refunds.
- The Supreme Court is considering President Trump's broad use of a statute typically for sanctions to implement global tariffs.
- Companies are currently paying these tariffs, leading to economic uncertainty.
- International negotiations are paused as countries await the Supreme Court's outcome.
- Rulings are not expected for several months, prolonging the uncertainty.