Donald Trump is doubling down on his pro-tariff stance, crediting the policy for what he calls a booming U.S. economy.
But behind the confident messaging, his administration is juggling legal setbacks and high-stakes trade negotiations as key deadlines loom.
Two recent court rulings have challenged the legality of tariffs imposed under Trump’s “Liberation Day” campaign. Judges in both Manhattan and Washington, D.C. ruled that the measures may have exceeded the president’s legal authority. While a temporary hold has allowed some of the tariffs to remain in place, a more definitive ruling is expected later this month.
The contested tariffs—ranging from 11% to over 100%—were introduced in April but largely suspended for 90 days following market turbulence. That pause is set to expire in early July, adding pressure on U.S. trade officials to secure improved deals in a tight timeframe.
Trading partners are now being pushed to submit new tariff offers by June 4, with the White House signaling that up to 60 countries—including China, the EU, Vietnam, and South Africa—could face steep duties if no progress is made.
China remains a key target. Treasury Secretary Scott Bessent has accused Beijing of disrupting global supply chains and warned of strained economic ties unless significant progress is made. While the administration says a deal is still a priority, officials have not committed to a timeline.
According to businessman Howard Lutnick, who spoke with Fox News, the administration intends to hold firm as the tariff pause nears its end. He emphasized that the coming weeks will determine whether temporary pressure evolves into long-term policy.
Robert Kiyosaki, author of Rich Dad Poor Dad, has issued a bold prediction on silver, calling it the “best asymmetric buy” currently available.
Fresh data on Personal Consumption Expenditures (PCE) — the Federal Reserve’s preferred inflation gauge — shows inflation ticked higher in May, potentially delaying the long-awaited Fed rate cut into September or later.
Federal Reserve Chair Jerome Powell is once again under fire, this time facing renewed criticism from Donald Trump over the Fed’s decision to hold interest rates steady in June.
Billionaire investor Ray Dalio has sounded the alarm over America’s soaring national debt, warning of a looming economic crisis if no action is taken.