President Trump says he's taking his case on tariffs to the Supreme Court. No surprise there. This comes after a federal appeals court ruled last night that most of his global tariffs are illegal, which is a massive blow to the core of the president's aggressive trade policy and economic vision.Here's a huge caveat, though. The judges said the tariffs can stay in place as the case proceeds. The ruling held that Trump does not possess unlimited power.Shocker. under the law to impose taxes on nearly all US im ...

Trade Policy Impact - The president's trade policy has faced a setback [1] News Source - The information is available at the provided URL [1]

From @WSJopinion: Trump’s tariffs and chaotic trade policy will yield a mishmash—not an international system led by a more powerful and attractive America, writes Robert B. Zoellick https://t.co/AHgEOoO2kf ...

From @WSJopinion: Trump’s tariffs and chaotic trade policy will yield a mishmash—not an international system led by a more powerful and attractive America, writes Robert B. Zoellick https://t.co/DUn92JZiAe ...

From @WSJopinion: As the Trump trade policy reverberates around the globe, what was once the world’s most admired nation is becoming a pariah state, writes Alan S. Blinder. https://t.co/vPVTzbDzhB ...

Trade Policy & Global Economy - The economic impact of potential tariffs on gold imports is likely small, but it signals a symptom of increasingly complex trade policies [2] - Current trade policy is too complex for the existing bureaucracy, leading to potential errors and confusion [3][4] - The administration's trade "understandings" lack formal documentation and are subject to misinterpretations, creating uncertainty for businesses making investment decisions [7][8][9] Labor Market & Economic Data - Soft data surveys suggest a weaker economy than official numbers indicate, and recent hard data is starting to align with this weaker outlook [12][13] - July's nonfarm payroll figures were weak, with revisions causing concern that the U S labor market is weaker than previously suggested [10][11] Stock Market & Economic Health - The stock market is not a reliable predictor of the economy [16] - The current stock market rally doesn't necessarily reflect the underlying health of the economy [15][16] Federal Reserve & Leadership - The Trump administration may prioritize loyalty over competence when selecting Jerome Powell's replacement at the Federal Reserve [20][21][22]

Donald Trump’s trade policy will be hard to dislodge. Its beneficiaries will be well-organised; its victims may not even realise why they are poorer than they could have been https://t.co/9zTBMDz8ff ...

Financial Performance - Rivian's Q2 loss was wider than expected at $080 per share, compared to the expected loss of $065 per share [1] - Q2 revenue was roughly in line with expectations at $13 billion [1] - The company swung to a gross loss of $26 million in Q2 after two straight quarters of gross profit [1] - Rivian is widening its full-year loss expectation to a range of $2 billion to $225 billion, previously expecting a loss of $17 billion to $19 billion [2] Production and Supply Chain - Lower Q2 production was driven by changes in trade policy, specifically the control of heavy rare earth metal exports from China [3] - Supply chain uncertainty and constrained suppliers led to a significant drop in production from over 14000 units in Q1 to around 6000 units in Q2 [4] - Rivian developed solutions during Q2 to address the heavy rare earth metal shortage, aiming for higher production levels in Q3 and Q4 [6][7] - The company expects to deliver between 40000 and 46000 vehicles for the full year [2] Future Outlook - Rivian is confident that Q3 and Q4 production will return to much higher levels, allowing for more vehicles to be produced in the second half of 2025 relative to the first half [7] - The company is excited about the R2 next-generation model, with a target starting price of $45000 [7][8] - Rivian has thoughtfully sourced materials for R2, including heavy earth metals, to protect against potential export challenges [9]

Trade Policy - The report focuses on news regarding the White House's trade policy [1] Source - CNBC's Eamon Javers is reporting the news [1]

While uncertainty around Donald Trump's trade policy is curbing Canadian businesses investment and consumer spending, firms see the country's economy avoiding the worst recessionary outcomes, central bank surveys show https://t.co/7EvKOsJoyw ...