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Business Times
2 hours ago
- Politics
- Business Times
Trump's court win opens a path to clear hurdles to his agenda
[WASHINGTON, DC] The US Supreme Court's ruling curbing the power of judges to block government actions on a nationwide basis has raised questions about whether dozens of orders that have halted US President Donald Trump's policies will stand. The conservative majority's ruling Friday (Jun 27) came in a fight over Trump's plan to limit automatic birthright citizenship. But it may have far-reaching consequences for the ability of US courts to issue orders that apply to anyone affected by a policy, not just the parties who filed lawsuits. Judges entered nationwide preliminary orders halting Trump administration actions in at least four dozen of the 400 lawsuits filed since he took office in January, according to a Bloomberg News analysis. Some were later put on hold on appeal. Nationwide orders currently in place include blocks on the administration's revocation of foreign students' legal status, freezes of domestic spending and foreign aid, funding cuts related to gender-affirming care and legal services for migrant children, and proof-of-citizenship rules for voting. The Supreme Court's new precedent doesn't instantly invalidate injunctions in those cases. But the Justice Department could quickly ask federal judges to revisit the scope of these and other earlier orders in light of the opinion. 'Fair game' 'Everything is fair game,' said Dan Huff, a lawyer who served in the White House counsel's office during Trump's first term. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up A Justice Department spokesperson did not immediately return a request for comment. Trump said at a press conference in the White House Friday that the administration will 'promptly file to proceed with numerous policies that have been wrongly enjoined on a nationwide basis'. Trump listed cases that they would target, including suspending refugee resettlement, freezing unnecessary funding and 'stopping federal taxpayers from paying for transgender surgeries'. The Trump administration has made it a priority to contest court orders that block policies on a nationwide, or universal, basis, although the controversy over whether those types of rulings are an appropriate use of judicial power has been brewing for years. Conservative advocates won such orders when Democratic presidents were in office as well. Noting the mounting pushback and debate, judges in dozens of other cases involving Trump's policies have limited their orders against the administration to the parties that sued or within certain geographical boundaries. Anastasia Boden, a senior attorney at the Pacific Legal Foundation whose practice includes suing the federal government, said she didn't see the ruling as a total 'retreat' from judges' authority to enter universal orders going forward. Multiple paths 'It's addressing the case where a plaintiff is getting relief that applies to everyone across the country merely because judges think that it's an important issue,' she said. 'But it doesn't change the case where the plaintiff needs that relief.' Boden offered the example of a challenge to government spending, in which the only way to halt an unlawful action would be to stop payment of federal dollars across the country, not just to individual plaintiffs or in certain areas. Trump's opponents say the justices' decision still leaves them with multiple paths to sue the administration over actions they contend are unlawful and even to argue for nationwide relief. Those options include class action lawsuits, cases seeking to set aside agency actions under a US law known as the Administrative Procedure Act and even continuing to argue that nationwide relief is the only way to stop harm to individual plaintiffs, like parties did in the birthright citizenship cases. But they also acknowledged the court significantly raised the burden of what they have to prove to win those types of orders. 'This is going to make it more challenging, more complicated, potentially more expensive to seek orders that more broadly stop illegal government action,' Cody Wofsy, deputy director of the ACLU Immigrants' Rights Project, said. 'It is watering down the power of federal courts to check government misconduct.' The Supreme Court sent the birthright citizenship cases back to lower court judges to reconsider the scope of orders pausing Trump's restrictions while the legal fight on its constitutionality continues. The justices did not rule on the core question of whether the policy itself is lawful. The administration can't fully enforce the birthright policy for at least another 30 days. Democratic state attorneys general involved in the birthright litigation highlighted language in Justice Amy Coney Barrett's majority opinion that the court didn't shut off the possibility that the states could still successfully argue for a nationwide order. Speaking with reporters after the ruling, New Jersey Attorney General Matthew Platkin said he and his Democratic colleagues would 'assess' the impact on other cases. He said they already had been judicious in asking judges for nationwide relief as opposed to orders that restricted administration policies in specific states. 'The court confirmed what we've thought all along – nationwide relief should be limited, but it is available to states when appropriate,' Platkin said. BLOOMBERG
The Star
8 hours ago
- Business
- The Star
S&P 500 hits new record high despite U.S.-Canada trade tensions
NEW YORK, June 27 (Xinhua) -- U.S. stock index S&P 500 closed at record high on Friday, despite a brief retreat following U.S. President Donald Trump's announcement on terminating all trade talks with Canada. The Dow Jones Industrial Average rose 432.43 points, or 1 percent, to 43,819.27, boosted by huge gains from Nike after a better-than-expected earnings report. The S&P 500 added 32.05 points, or 0.52 percent, to 6,173.07, a record close high for the first time since February. The Nasdaq Composite Index increased by 105.54 points, or 0.52 percent, to 20,273.46. Nine of the 11 primary S&P 500 sectors ended in green, with consumer discretionary and communication services leading the gainers by adding 1.78 percent and 1.55 percent, respectively. Meanwhile, energy and health led the laggards by losing 0.50 percent and 0.17 percent, respectively. Equities initially moved higher in the morning following comments by U.S. Commerce Secretary Howard Lutnick, who told Bloomberg News late Thursday that a framework agreement between China and the United States on trade had been finalized. However, momentum faded after Trump posted on Truth Social that negotiations with Canada were off, injecting fresh uncertainty into global trade dynamics. "I can see where the risks are here -- if the trade is just hype from the White House and no deals are really forthcoming, then this market is going to roll over," Thierry Wizman, global FX and rates strategist at Macquarie Group. "Ultimately, this all comes back to growth in the U.S. economy and growth of earnings." On the economic front, U.S. personal consumption expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, rose 0.1 percent in May on a seasonally adjusted basis, in line with expectations. The annual inflation rate came in at 2.3 percent, matching economists' forecasts. Core PCE price index, which strips out volatile food and energy costs, increased by 0.2 percent for the month and 2.7 percent year over year, slightly above expectations of 0.1 percent and 2.6 percent, respectively. U.S. investor sentiment improved in June as inflation fears pulled back, according to the University of Michigan's latest survey released Friday. The headline sentiment reading rose to 60.7, up 16.3 percent from May and close to the Dow Jones estimate for 60.5. The index was still 11 percent below the same month a year ago. "Consumers continue to be concerned about the potential impact of tariffs, but at this time they do not appear to be connecting developments in the Middle East with the economy," survey director Joanne Hsu said in a statement. In corporate news, Nike led gains across major indexes, with its shares surging 15.19 percent after the company reported quarterly earnings that topped Wall Street estimates. The sportswear giant also unveiled plans to offset potential tariff-related headwinds, which investors viewed positively. Large-cap technology stocks were mixed. Tesla fell 1.34 percent, while Alphabet and Amazon gained more than 2 percent. Broadcom and Microsoft posted modest losses, while Nvidia and Meta Platforms were up more than 1 percent, continuing their recent upward momentum. U.S. stock markets have shown resilience in recent weeks amid volatile geopolitical and economic headlines, as investors assess trade developments and incoming economic data for clues on the Fed's next moves.
Mint
8 hours ago
- Politics
- Mint
Trump's Court Win Opens a Path to Clear Hurdles to His Agenda
The US Supreme Court's ruling curbing the power of judges to block government actions on a nationwide basis has raised questions about whether dozens of orders that have halted President Donald Trump's policies will stand. The conservative majority's ruling Friday came in a fight over Trump's plan to limit automatic birthright citizenship. But it may have far-reaching consequences for the ability of US courts to issue orders that apply to anyone affected by a policy, not just the parties who filed lawsuits. Judges entered nationwide preliminary orders halting Trump administration actions in at least four dozen of the 400 lawsuits filed since he took office in January, according to a Bloomberg News analysis. Some were later put on hold on appeal. Nationwide orders currently in place include blocks on the administration's revocation of foreign students' legal status, freezes of domestic spending and foreign aid, funding cuts related to gender-affirming care and legal services for migrant children, and proof-of-citizenship rules for voting. The Supreme Court's new precedent doesn't instantly invalidate injunctions in those cases. But the Justice Department could quickly ask federal judges to revisit the scope of these and other earlier orders in light of the opinion. 'Fair Game' 'Everything is fair game,' said Dan Huff, a lawyer who served in the White House counsel's office during Trump's first term. A Justice Department spokesperson did not immediately return a request for comment. Trump said at a press conference in the White House Friday that the administration will 'promptly file to proceed with numerous policies that have been wrongly enjoined on a nationwide basis.' Trump listed cases that they would target, including suspending refugee resettlement, freezing unnecessary funding and 'stopping federal taxpayers from paying for transgender surgeries.' The Trump administration has made it a priority to contest court orders that block policies on a nationwide, or universal, basis, although the controversy over whether those types of rulings are an appropriate use of judicial power has been brewing for years. Conservative advocates won such orders when Democratic presidents were in office as well. Noting the mounting pushback and debate, judges in dozens of other cases involving Trump's policies have limited their orders against the administration to the parties that sued or within certain geographical boundaries. Anastasia Boden, a senior attorney at the Pacific Legal Foundation whose practice includes suing the federal government, said she didn't see the ruling as a total 'retreat' from judges' authority to enter universal orders going forward. Multiple Paths 'It's addressing the case where a plaintiff is getting relief that applies to everyone across the country merely because judges think that it's an important issue,' she said. 'But it doesn't change the case where the plaintiff needs that relief.' Boden offered the example of a challenge to government spending, in which the only way to halt an unlawful action would be to stop payment of federal dollars across the country, not just to individual plaintiffs or in certain areas. Trump's opponents say the justices' decision still leaves them with multiple paths to sue the administration over actions they contend are unlawful and even to argue for nationwide relief. Those options include class action lawsuits, cases seeking to set aside agency actions under a US law known as the Administrative Procedure Act and even continuing to argue that nationwide relief is the only way to stop harm to individual plaintiffs, like parties did in the birthright citizenship cases. But they also acknowledged the court significantly raised the burden of what they have to prove to win those types of orders. 'This is going to make it more challenging, more complicated, potentially more expensive to seek orders that more broadly stop illegal government action,' Cody Wofsy, deputy director of the ACLU Immigrants' Rights Project, said. 'It is watering down the power of federal courts to check government misconduct.' The Supreme Court sent the birthright citizenship cases back to lower court judges to reconsider the scope of orders pausing Trump's restrictions while the legal fight on its constitutionality continues. The justices did not rule on the core question of whether the policy itself is lawful. The administration can't fully enforce the birthright policy for at least another 30 days. Democratic state attorneys general involved in the birthright litigation highlighted language in Justice Amy Coney Barrett's majority opinion that the court didn't shut off the possibility that the states could still successfully argue for a nationwide order. Speaking with reporters after the ruling, New Jersey Attorney General Matthew Platkin said that he and his Democratic colleagues would 'assess' the impact on other cases. He said they already had been judicious in asking judges for nationwide relief as opposed to orders that restricted administration policies in specific states. 'The court confirmed what we've thought all along — nationwide relief should be limited, but it is available to states when appropriate,' Platkin said. ©2025 Bloomberg L.P. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
12 hours ago
- Business
- Bloomberg
EU Set to Open Doors to Imported Carbon Credits Under 2040 Goal
The European Union wants to allow limited imports of carbon credits under a planned 90% emissions reduction goal for the next decade, in a bid to reduce the costs of its ambitious green shift and get member states on board. The European Commission, the bloc's executive arm, is poised to propose that certain high-quality credits from a new United Nations-supervised mechanism can account for 3% of the pollution cut by 2040, according to a draft document seen by Bloomberg News.
American Military News
14 hours ago
- Business
- American Military News
Video: Trump announces major trade deal with China
President Donald Trump announced on Thursday that his administration signed a trade deal with China on Wednesday. The president also announced that his administration was preparing for a potential trade deal with India. According to The Post Millennial, Trump's announcement was revealed during an event on Thursday highlighting his proposed 'One Big Beautiful Bill,' which is currently being considered in the Senate. The Post Millennial reported that the president said officials in his administration have been 'working overtime making deals with other countries' following the implementation of major tariffs earlier this year. 'We just signed with China yesterday, right? Just signed with China,' Trump said. 'We're not going to make deals with everybody. Some, we're just going to send them a letter, say thank you very much, you're gonna pay 25, 35, 45 percent.' 'But we're having some great deals. We have one coming up maybe with India,' Trump added. 'We're going to open up India. In the China deal, we're starting to open up China. Things that never really could have happened. And the relationship with every country has been very good.' Trump: 'We just signed with China yesterday.' — The Post Millennial (@TPostMillennial) June 26, 2025 According to Bloomberg News, U.S. Commerce Secretary Howard Lutnick confirmed that the United States and China finalized a trade understanding that was negotiated in Geneva, Switzerland, last month. In an interview with Bloomberg News, Lutnick said the new deal was signed this week and solidified the terms that were previously discussed by U.S. and Chinese officials. Lutnick noted that the deal includes a commitment from China to provide the United States with rare earth materials. READ MORE: Video: Trump admin secures major trade deal with China 'They're going to deliver rare earths to us,' Lutnick said. The commerce secretary told Bloomberg News that once China delivers the rare earth materials, 'We'll take down our countermeasures.' According to Reuters, an anonymous White House official confirmed on Thursday that the United States and China had finalized an agreement to send rare earth materials to the United States. 'The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement,' the White House official said in a statement obtained by Reuters.
