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No Refund, or Else: Trump Warns Companies Not to Seek Tariff Refunds (Bloomberg)
President Donald Trump said he’d remember companies that decline to seek refunds on duties paid after the Supreme Court struck down a large swath of his tariffs.
“It’s brilliant if they don’t do that,” Trump said Tuesday on CNBC in response to a question about whether companies such as Amazon and Apple should request refunds on duties that have now been deemed unlawful. “If they don’t do that, I’ll remember them.”
In February, the Supreme Court ruled against Trump’s use of the International Emergency Economic Powers Act to impose so-called “reciprocal” tariffs on imports from nearly every country. That ruling set the stage for a complicated task that could become the largest repayment by the US government in its history.
Trump’s comments come a day after US Customs and Border Protection launched a web portal for importers to file requests for refunds that could total more than $160 billion. Yet, the process is still fraught with uncertainty.
Another 'TACO' Tuesday: Trump
Backtracks and Extends Iran Truce With Talks in Limbo (Bloomberg)
President Trump indefinitely extended a ceasefire with Iran as peace talks remain on hold, walking back threats to resume fighting even as the Strait of Hormuz remains all but shut.
Trump said Pakistan, the main mediator between the warring sides, asked the US to hold off on fresh strikes, something Tehran denied was the case. Washington is extending the truce — which began just over two weeks ago — until Iran submits a new proposal “and discussions are concluded, one way or the other,” Trump said on Truth Social late on Tuesday.
While that means the US-Israel alliance and Iran won’t immediately return to fighting a war that’s killed thousands of people and sent energy prices soaring, there’s still no sign the vital Hormuz waterway will be reopened to oil and gas shipments soon.
Redistricting Battle:
Virginia Voters Approve Democratic Plan to Redraw Districts (Bloomberg)
Virginia voters on Tuesday backed a Democratic plan to redraw the state’s congressional districts in a way that could net them as many as four more US House seats in November’s midterm elections, according to multiple projections.
The vote marked one of the final acts in a yearlong national battle sparked when Republicans moved to change voting boundaries in Texas, in an effort to keep GOP control of the US House in the midterms.
It’s hard to see these totals as anything other than a colossal failure for Donald Trump and the GOP, who sunk significant time, resources and political capital into a nationwide gerrymandering battle that — nine months later — they’re losing, Politico Playbook writes.
Major EV Advance: China’s CATL Debuts Electric Vehicle Battery With Speedy Six-Minute Recharge (Bloomberg)
Contemporary Amperex Technology, the world’s largest electric vehicle battery manufacturer, unveiled a new fast-charging technology ahead of the Beijing auto show in a bid to stay ahead of BYD Auto and other competitors.
The Ningde-based company, better known as CATL, showcased its latest “Shenxing” lithium-iron-phosphate battery that recharges from 10% power to 98% in just six minutes — a development that brings EV charging closer to the speed of filling up the tank of a gasoline vehicle.
Lighting Up Outlawed: Proposed Lifetime Smoking Ban to Become Law in Britain (New York Times)
Britain aims to raise a “smoke-free generation” by permanently banning the sale or supply of tobacco and vape products to anyone born in 2009 or after, with a bill that was approved by Parliament on Tuesday.
The bill applies to people currently 17 years old or younger and aims to keep them from ever picking up the habit in their lifetime. The proposal is expected to soon go into law after the final formality of approval by King Charles III.
Lawmakers say that in practice, the measure means the age of sale for tobacco products will rise over time as the targeted demographic group grows older and could lead to a smoke-free society. The law will apply in England, Scotland, Wales and Northern Ireland.
Sky-High Spend: Pentagon Seeks $75 Billion for Drones in Record Budget Ask (Bloomberg)
The Pentagon’s largest-ever budget request earmarks $75 billion for drones and technologies to counter them, mainly for a massive increase for a little-known office working with US commandos to test and evaluate various systems, according to defense officials.
The drone-funding proposal includes $54.6 billion for the Defense Autonomous Working Group, or DAWG, from just $225.9 million this year. That would appear to be the largest single year-over-year boost of any defense program or office, meaning it’s likely to draw particular congressional and public scrutiny in an already eye-catching $1.5 trillion request that’s 42% larger than this year’s budget.
Fed Tightrope: Warsh Pledges Independence But Dodges Questions on Rates (Bloomberg)
Kevin Warsh repeatedly pledged to act independently if he’s confirmed as the next Federal Reserve chair, rejecting Democratic concerns that he would be a “sock puppet” for President Donald Trump, who continues to demand lower interest rates.
Warsh, in testimony before the Senate Banking Committee Tuesday, called for a slew of changes to the way the US central bank makes its decisions, including a new framework for dealing with persistent inflation and a new way of communicating with the public. But he provided few specifics and avoided answering questions about the near-term path of interest rates.
Media Memo: Hey, Washington. Guess Who's Coming to Dinner (New York Times)
The prospect of President Trump delivering a speech at this Saturday’s White House Correspondents’ Association black-tie dinner — the first time he has not boycotted the event as commander in chief — has raised some uncomfortable questions within media and political circles.
What sort of message will this president, who has sued, threatened and demonized the independent news media, deliver when handed a microphone in front of hundreds of the nation’s most prominent journalists?
How will the Correspondents’ Association, whose mission is to support the First Amendment, respond to a president whose favorite form of speech is speech that is favorable toward him?
Attention NYC Pickleballers: Central Park's Wollman Rink Transforms Into 14-Court Pickleball Hub Starting This Week (Time Out)
After a long winter of wistfully eyeing empty courts, pickleball is officially making its return to Central Park.
Starting this week, the iconic Wollman Rink will once again swap skates for paddles as CityPickle rolls back in for its fourth season, turning the space into a sprawling, 14-court pickleball hub right in the heart of the park.
If you’ve walked by before, you already know the vibe: a steady hum of rallies, a mix of die-hard players and curious first-timers and the sight of one of New York’s most famous ice rinks turned into a sunny court complex. This year, the setup runs daily from 8 am to 9 pm through early fall, with programming that includes open play, clinics and private lessons for every level.
The courts can host hundreds of players each day and reservations open on a rolling basis one week in advance, meaning you’ll need to plan ahead if you’re hoping to snag a prime-time slot. One of the biggest draws remains the $5 community play sessions, which run for several hours each day and include complimentary paddle rentals, making it one of the more affordable ways to spend an afternoon in Central Park.
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