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FedEx has filed a lawsuit seeking a refund of U.S. tariffs that the Supreme Court ruled unlawful last week, becoming one of the first major companies to demand repayment of levies imposed under President Donald Trump’s emergency powers. The case, lodged in the U.S. Court of International Trade, asks Customs and Border Protection to return the duties collected. FedEx did not specify the amount it is seeking, but analysts estimate the now-invalidated tariffs raised as much as $175bn for the U.S. government. Legal experts expect many other companies to follow suit, with dozens having already challenged the tariffs before the Supreme Court’s decision. While the Trump administration previously indicated it would comply with refund orders if the levies were struck down, Mr Trump has suggested that repayments could face further legal hurdles.

 

CNBC

Financial Times

New York Times

Reuters

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The Trump administration is weighing new national security tariffs on a number of industries, including large-scale batteries, cast iron and iron fittings, plastic piping, industrial chemicals and power grid and telecom equipment, after last week's Supreme Court decision that invalidated many of his second-term levies, the Wall Street Journal reports. The new tariffs would be issued under Section 232 of the Trade Expansion Act of 1962, which gives the president broad powers to impose tariffs based on national security risks. “Safeguarding America’s national and economic security remains a top priority for President Trump, and the administration remains committed to using every lawful authority to deliver,” White House spokesman Kush Desai said in a statement. 

 

Wall Street Journal

European Union officials are pausing work toward implementing their trade deal with the United States after the U.S. Supreme Court on Friday struck down the main tariffs on which last year's agreement had been based. “We want to have clarity about the situation,” European Parliament trade committee chair Bernd Lange said Monday. “We want to have clarity from the US that they are respecting the deal because that’s a crucial element.”

 

Bloomberg

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Politico

New orders for U.S. factory goods fell 0.7% in December, driven by a sharp drop in commercial aircraft bookings, according to Commerce Department data published on Monday. The decline followed a 2.7% increase in November and was slightly worse than economists’ forecasts of a 0.6% fall. On a year-on-year basis, factory orders rose 3.7%. Commercial aircraft orders dropped 24.8% after surging 98.2% in November, reflecting volatility in the sector. Although Boeing reported 175 aircraft orders in December, most were for lower-priced models. In contrast, demand in other manufacturing segments remained firm, partly supported by investment linked to artificial intelligence. Orders for computers and electronic products rose 3.1%, machinery increased 0.5%, and motor vehicle bodies, parts and trailers advanced 2%. Orders for non-defense capital goods excluding aircraft were revised higher to a 0.8% increase, while shipments of these core capital goods rose 1%.

 

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Reuters

Wall Street Journal

Reuters reports that the U.S. Department of Justice (DOJ) and Federal Trade Commission are to launch a public inquiry to inform new guidelines for companies on the bounds of the law when it comes to collaborating with rivals, a senior DOJ official has said. The development comes amid an increase in businesses that aggregate industry data and advise their customers on pricing, Reuters notes.

 

Reuters

The Supreme Court has agreed to hear cases from oil and gas companies attempting to block lawsuits that seek to hold them accountable for billions in damages related to climate change. The court's decision comes as Boulder, Colorado, and other jurisdictions pursue legal action against the companies, alleging they misled the public about fossil fuels' role in climate change. Suncor Energy and ExxonMobil argue that emissions are a national issue, warranting federal court jurisdiction. They claim that allowing state law to address global climate change poses a significant threat to the industry. Boulder attorneys maintain that state courts can address local harms caused by out-of-state actions.

 

Los Angeles Times

Law

The Globe and Mail

U.S. News

U.S. analytics firm Palantir is suing Swiss online magazine Republik after it detailed the company's unsuccessful efforts over several years to win Swiss federal government contracts. The case is currently being heard by the Zurich Commercial Court. The Financial Times notes that some European leaders are seeking to reduce their reliance on U.S. technology amid the Trump administration’s often antagonistic rhetoric towards the continent. Palantir’s lawsuit claims that the group was not given sufficient right to reply under Swiss media law.

 

European Federation of Journalists

Financial Times

Republik

A federal judge has upheld a $243m jury verdict against Tesla following a fatal crash involving an Autopilot-equipped Model S that resulted in the death of a 22-year-old woman. US District Judge Beth Bloom said that the evidence supported the jury's finding of Tesla's partial responsibility. Crucially, plaintiffs' representatives argued that "Autopilot was defective," and that Tesla released the technology before it was adequately tested and safe. The ruling is the first federal jury verdict related to a fatal accident involving the Tesla system. Tesla is expected to appeal the decision. 

 

Reuters

New U.S. cybersecurity regulations are forcing many small defense suppliers to reconsider their participation in military contracts amid rising costs connected to compliance issues. The Defence Department's Cybersecurity Maturity Model Certification (CMMC) aims to safeguard sensitive information but has led to production risks as companies face extensive audits and unclear requirements. Industry leaders have expressed concerns that the stringent rules could affect competition in the defense supply chain.

 

Reuters

Research by Amazon reveals that a small group of hackers - or even potentially just one individual - has infiltrated more than 600 firewalls across 55 countries using widely accessible artificial intelligence tools. The intruders capitalised on weak security measures, such as simple login credentials and single-factor authentication, allowing them to execute breaches that would typically require a much larger team. The report indicates that the Russian-speaking hackers used their access to set the stage for ransomware attacks within victims' networks.

 

Bloomberg

The U.S. State Department is withdrawing non-essential personnel and their families from the U.S. embassy in Beirut due to escalating concerns over potential military conflict with Iran. A senior State Department official said: "We continuously assess the security environment." Approximately 50 individuals have been evacuated. The U.S. has significantly increased its military presence in the Middle East, with President Donald Trump warning of severe consequences if a resolution regarding Iran's nuclear program is not reached. Despite ongoing tensions, Iranian Foreign Minister Abbas Araqchi expressed hope for a diplomatic solution during upcoming talks with U.S. special envoy Steve Witkoff. However, both sides remain divided on key issues.

 

U.S. News

New York boutique investment bank Centerview Partners has settled a lawsuit from a former analyst who was fired after saying she needed eight to nine hours’ sleep per night. Kathryn Shiber had sued Centerview in 2021, claiming she was fired shortly after informing the firm that she had mood and anxiety disorders requiring her to sleep at least eight hours a night on a consistent schedule. Centerview said Sunday that it had settled the case but declined to discuss the terms. “Centerview has said all along that Ms. Shiber’s legal claims have no merit,” a Centerview spokesperson said. “We were ready to prove that in court, and are confident we would have prevailed at trial. But we are nonetheless happy to put this distraction behind us and focus on delivering for our clients.”

 

Australian Financial Review

Bloomberg

Bloomberg