The US Supreme Court’s decision to strike down President Donald Trump’s use of emergency tariff powers is raising questions about existing trade deals, federal revenues, and the impact to American business. Plus, how JPMorgan chief executive Jamie Dimon is preparing to spend a record $2bn a week.

Mentioned in this podcast:

Trump’s new flat-rate tariff will boost China and Brazil

What does Trump’s latest tariff threat mean for his previous trade pacts?

Corporate America demands refunds after Donald Trump’s tariffs are struck down

Donald Trump’s tariffs send corporate America’s import costs spiralling

US banks enjoyed record profits of $300bn in 2025

Dimon seeks to sell JPMorgan investors on $2bn-a-week costs bill

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Today’s FT News Briefing was hosted by Victoria Craig, and produced by Julia Webster. Our show was mixed by Alex Higgins. Additional help from Peter Barber. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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The fallout of Trump’s tariff setback at the Supreme Court

FT News Briefing