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AXIOS (Courtenay Brown) - What Trump's tariff loss means for his agenda

For the past year, concerns about the U.S. and global economy have boiled down to President Trump 's sweeping tariffs. - On Friday, that worry was wiped away as the Supreme Court ruled that the unilaterally imposed levies were illegal. Why it matters: The bottom just fell out of the administration's economic — and in many cases, geopolitical — agenda. - No longer does Trump have a tariff "on/off" switch that underpinned many economic threats, reignited fears about inflation and impacted the nation's fiscal outlook. - Future tariffs will need to be imposed by lengthy, more technical trade authorities — or through Congress. What they're saying: "Call it Liberation Day 2.0—arguably the first one with tangible upside for U.S.…

AXIOS (Nathan Bomey) - Business groups applaud Supreme Court ruling on Trump tariffs

Businesses are the big winners from the Supreme Court ruling invalidating President Trump's global tariffs after a bruising year in which the duties bludgeoned bottom lines and prompted price hikes . Why it matters: The ruling tees up a fight over corporate refunds — a potential windfall for companies that paid extra costs to import goods under the Trump tariff regime, though nothing is guaranteed. - If the Treasury Department is forced to issue refunds, it would total about $120 billion, according to Capital Economics estimates. Catch up quick: The Supreme Court on Friday overturned Trump's global tariffs in a 6-3 ruling, saying that the president lacked the legal authority under the International Emergency Economic Powers Act (IEEPA)…

AXIOS (Delano Massey) - Court fight over slavery exhibit tests how America tells its 250th story

Philadelphia is preparing to celebrate 250 years of American independence , even as a court fight over a slavery exhibit questions how much of that founding story should remain on display. Why it matters: The legal skirmish is not about facts; it's about whether to keep them in public view. Catch up quick: On Friday, a federal judge in Pennsylvania denied the Trump administration's request for an emergency stay, allowing the restoration of the President's House site to proceed. - The ruling came a day after the National Park Service began restoring slavery exhibits at Independence National Historical Park, nearly a month after they were taken down as part of President Trump's effort to eliminate what his administration has called…

AXIOS (Andrew Solender) - Scoop: Rep. Summer Lee to deliver progressive State of the Union response

Rep. Summer Lee (D-Pa.) has been tapped to give the progressive Working Families Party's response to President Trump's State of the Union this year, Axios has learned. Why it matters: The spot is given to lawmakers seen as rising stars on the left. Past speakers include Reps. Ayanna Pressley (D-Mass.), Rashida Tlaib (D-Mich.) and Delia Ramirez (D-Ill.). - Lee "is the kind of leader this moment demands," Working Families Party National Director Maurice Mitchell said in a statement first shared with Axios. - "She's fearless, rooted in working-class communities, and unafraid to take on both MAGA extremism and corporate power." What they're saying: Lee , a former state legislator first elected to her Pittsburgh-based seat in 2022, said in…