The U.S. Supreme Court having ruled certain Trump-era tariffs unconstitutional, a federal refund system for affected businesses is set to open Monday. The mechanism provides a formal claims pathway for companies that paid those tariffs and now seek reimbursement from the government. The launch marks the transition from litigation to recovery, with businesses able to submit claims through the newly established process. The practical scope of the refund program, including eligible tariff categories, claim deadlines, documentation requirements, and total government liability, was not specified in available reporting. Businesses operating in tariff-affected sectors should verify eligibility and prepare documentation promptly, as refund windows in similar federal programs have historically carried strict procedural requirements. The broader fiscal exposure to the Treasury will depend on claim volume and the range of tariffs ultimately deemed covered. Compliance and trade counsel will be in high demand as the process opens.
India's Expenditure Finance Committee has cleared a Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, up 64 percent from ISM 1.0's Rs 76,000 crore. The proposal now goes to the Cabinet, as two chip plants begin commercial output and a third, CG Semi, is set to open July 4, 2026.
The Supreme Court blocked Trump from firing Federal Reserve board member Lisa Cook, preserving the Fed's independence from presidential removal power. A separate ruling the same day gave Trump broader authority to dismiss leaders of other independent federal agencies.
The US Supreme Court has blocked President Trump's attempt to fire Federal Reserve governor Lisa Cook, who faced unproven mortgage fraud allegations. The ruling preserves Fed independence for now and keeps a politically charged removal case alive in the courts.
The US Supreme Court, splitting along ideological lines, has allowed the Trump administration to end Temporary Protected Status for Haitian and Syrian immigrants.
