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Why did Walmart fall on strong earnings? And how are Omnicom’s big cost cuts boosting its stock? Plus, will a major FDA reversal change Moderna’s fortunes? Host Jack Pitcher discusses the biggest stock moves of the week and the news that drove them.
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Donald Trump has lashed out at the US Supreme Court, after judges struck down his sweeping trade tariffs. The president has outlined a new plan to retain some of the levies, but the details are not clear. Also: the British government reviews the royal line of succession, as the police investigate Andrew's links to Jeffrey Epstein -- the former prince denies wrongdoing; Ukraine-Russia peace talks gather pace; what's the future of the Palestinian Authority in the occupied West Bank; North Korea holds its biggest political event in five years; and NASA sets a date to send astronauts back around the Moon.
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President Trump slams Supreme Court after it struck down his sweeping tariffs.
Transportation Secretary says truck and bus drivers will have to take their commercial driver's license tests in English.
A progressive think tank finds that today's student loan delinquency rate is nearly three times higher than it was in 2019.
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President Trump has damned a Supreme Court ruling striking down much of his tariffs policy. A clearly furious president vowed to reimpose his import taxes through alternative methods. The court said that the president could not impose tariffs without consulting Congress.
Also in our programme: how rural communities and poorer areas in Russia are being disproportionately affected by the war; and we speak to one of the stars of the first Iranian documentary to earn an Oscar nomination.
(Photo: US President Donald J. Trump, alongside Commerce Secretary Howard Lutnick, speaking at a press conference about the Supreme Court's striking down of most of his tariffs. Credit: Yuri Gripas, EPA/Shutterstock)
Nearly a year ago, Trump announced his “Liberation Day” tariffs, slapping high import taxes on goods from countries around the world. The sweeping tariffs hurt the New York-based wine importer VOS Selections, one of several plaintiffs that challenged the Trump administration in court, arguing the president lacked the ability to impose the tariffs under the International Emergency Economic Powers Act.
Today, the Supreme Court agreed, ruling that many of President Trump’s tariffs are unconstitutional. NPR’s Scott Detrow talks with NPR Chief Economics Correspondent Scott Horsley and NPR Legal Affairs Correspondent Nina Totenberg about the court’s decision and what it means for businesses and consumers.
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This episode was produced by Tyler Bartlam, with audio engineering from Ted Mebane. It was edited by Christopher Intagliata, Courtney Dorning, Scott Horsley and Krishnadev Calamur. Our executive producer is Sami Yenigun.
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In a 6-3 decision, the Supreme Court ruled that President Trump’s global tariffs are illegal. It is the first time the Supreme Court has definitively struck down one of Trump’s second-term policies, saying the president went too far in enacting his most sweeping tariffs without clear authorization from Congress. WSJ’s Gavin Bade unpacks the ruling and discusses Trump’s next steps. Ryan Knutson hosts.
Further Listening:
- Trump's Tariffs Force a New Era in Global Trade
- How Tariffs Could End Italian Pasta in the U.S.
- The Tariff Trade Off: Jobs vs. Higher Prices
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P.M. Edition for Feb. 20. After the U.S. Supreme Court ruled the president exceeded his powers when he imposed global tariffs, Trump responded by announcing 10% global tariffs under a different legal authority. WSJ economic policy reporter Gavin Bade breaks down what happened and the implications. Plus, U.S. intelligence agencies have concluded that between 15,000 to 20,000 people are now at large in Syria after an ISIS detention camp collapsed. And Florida Rep. María Elvira Salazar is one of few Republicans saying that Trump’s hard-line deportation policies might cost the GOP the midterms. Journal political reporter Sabrina Rodriguez tells us what she discussed with Salazar in a recent interview. Alex Ossola hosts.
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According to the 20-point peace plan for Gaza brokered by President Trump, “No one will be forced to leave Gaza, and those who wish to leave will be free to do so and free to return.” But while a border crossing between Egypt and Gaza has technically reopened, few people have been allowed to use it so far. We go to Gaza to meet some of the few people who have been able to return and they report a harrowing and uncertain ordeal.
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Bonus Episode for Feb. 20. Financial results from homebuilders PulteGroup, D.R. Horton and Toll Brothers give investors a peek at the forces shaping housing markets across the country ahead of the all-important spring selling season. Wall Street Journal national housing reporter Nicole Friedman discusses insights into affordability and regional differences. Veronica Dagher hosts this special bonus episode of What's News in Earnings, where we dig into companies’ earnings reports and analyst calls to find out what’s going on under the hood of the American economy. Sign up for the WSJ's free Markets A.M. newsletter.
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