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Trump’s tariffs faced Supreme Court skepticism. Even members of the Supreme Court’s conservative majority appeared open to the idea that President Trump may have exceeded his authority by imposing sweeping tariffs on goods from nearly every country, asking pointed questions during more than two hours of oral arguments over the legality of the president’s signature economic policy yesterday. The justices pressed the government’s lawyer on whether tariffs are a tax that must therefore be put in place by Congress. The Trump administration has said that overturning the tariffs would weaken the US and could require it to refund $750+ billion. But oral arguments do not always preview the court’s ultimate decision, which in this case is expected by June.
Finally, some good news about the labor market. Private companies added a stronger-than-expected 42,000 jobs last month, according to ADP. That breaks a two-month streak of declines and provides a glimmer of hope about the labor market, even as several big companies have recently announced large layoffs. It’s also likely to be the only data about jobs that the Fed has to go off of when deciding whether to cut interest rates again next month, as the ongoing government shutdown means there’s unlikely to be official numbers released.
Details emerge about UPS plane crash that killed at least 12. The cause of Tuesday’s deadly crash, in which a UPS cargo plane’s left wing caught fire and its engine detached shortly after takeoff, is still being investigated. Authorities said the death toll could continue to rise. But new information began to come out about the plane involved, with the Wall Street Journal reporting that the MD-11 plane was 34 years old and had undergone major repairs to its fuel tank in September. Though there is no indication that the plane’s age was a factor in the crash, the WSJ reports that both UPS and rival FedEx still use the model—which is no longer used as a passenger plane—but are phasing it out.—AR
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