US Administration to Stop Collecting Tariffs Deemed Illegal by Supreme Court
The Trump administration has announced it will halt the collection of tariffs that the Supreme Court ruled were illegal, as they were imposed using emergency powers. This decision comes as investors grapple with the president's latest series of replacement levies, leading to significant market movements.
Following the announcement, the dollar fell by 0.4% against a basket of other currencies this morning. The US Customs and Border Protection agency confirmed it would deactivate all tariff codes linked to International Emergency Economic Powers Act orders effective Tuesday at midnight.
Market Reactions and Trade Policy Stance
Jamieson Greer, the top US trade negotiator, stated on Sunday that the administration intends to persist with its tariffs policy despite the legal adjustments. "The policy hasn't changed. The legal tools that implement that may change but the policy hasn't changed," he argued, emphasizing that it provides US businesses with substantial leverage in global trade.
In response to the news, gold prices jumped 0.6% to $5,135 an ounce, reaching their highest level since late January as investors sought safe-haven assets. Bitcoin experienced volatility, dropping as much as 4.8% to $64,300 before partially recovering to $65,734. Futures tracking the US S&P 500 stock market slipped 0.5% on Monday morning, indicating ongoing uncertainty.
Secret Service Fatally Shoots Armed Intruder at Mar-a-Lago
In a separate incident, the Secret Service shot and killed an armed intruder who breached the perimeter of Mar-a-Lago, Donald Trump's Florida residence and private club in Palm Beach, early on Sunday. Although the president frequently spends weekends at the oceanfront resort, he and First Lady Melania Trump were at the White House in Washington during this event.
At a press conference, Ric Bradshaw, the sheriff of Palm Beach county, revealed that two Secret Service agents and one deputy were alerted to a person within an inner perimeter. The intruder has been identified by investigators as 21-year-old Austin Tucker Martin, according to the Associated Press, citing an anonymous source familiar with the matter.
Violence Erupts After Mexican Security Forces Kill Drug Cartel Boss 'El Mencho'
Mexico's defence ministry has confirmed that one of the world's most wanted drug traffickers, known as "El Mencho," has been killed by security forces. The operation triggered a wave of violence, with torched cars and gunmen blocking highways in over half a dozen states.
The drug lord, whose real name is Nemesio Rubén Oseguera Cervantes, was killed on Sunday in the western state of Jalisco along with at least six alleged accomplices. El Mencho was the co-founder and leader of the Jalisco New Generation Cartel, which has become Mexico's most powerful criminal organisation in recent years.
Additional News Highlights
A Guardian analysis of government records found that 77% of people entering deportation proceedings for the first time in 2025 had no criminal conviction, highlighting a gap between the Trump administration's rhetoric and reality.
New York mayor Zohran Mamdani has issued a citywide travel ban for all but emergency travel as the north-eastern US prepares for an intense winter storm forecasted to reach blizzard strength.
Donald Trump has demanded Netflix remove Democratic foreign policy expert Susan Rice from its board or "face the consequences," amid a corporate battle for control of Warner Bros Discovery.
In sports, the United States won their first Olympic men's ice hockey gold since 1980 with a thrilling 2-1 overtime victory over Canada at the Milano Cortina Games.
Over a hundred lawsuits have been filed against the Trump administration as Americans fight to preserve civil liberties, with many individuals sharing their stories of resistance.
This year's Baftas featured chaotic moments, including an unknown winner for best actor and a film with 11 nominations going home empty-handed.
An environmentally friendly invention by Nobel laureate Omar Yaghi can harvest water from dry air, potentially aiding vulnerable islands during hurricanes or droughts.
A baby monkey named Punch in Japan has gained international attention after being abandoned by his mother, sparking discussions about animal behavior.
