JPMorgan Chase & Co. filed a request in court for President Donald Trump ’s lawsuit over closure of his accounts to be moved from Miami to New York federal court. The bank said in a filing Friday that Trump and his various businesses that sued — 10 plaintiffs in all — agreed in writing when they signed up to open accounts that any disputes would be litigated in New York, where the bank is based. J...
JPMorgan Chase & Co. filed a request in court for President Donald Trump ’s lawsuit over closure of his accounts to be moved from Miami to New York federal court. The bank said in a filing Friday that Trump and his various businesses that sued — 10 plaintiffs in all — agreed in writing when they signed up to open accounts that any disputes would be litigated in New York, where the bank is based. JPMorgan also said the public interest weighs transferring the case because of “the overwhelming connections this dispute has to New York.” The accounts in question were opened in New York, the bankers who managed the accounts were in New York and the alleged activities that gave rise to Trump’s suit happened in New York, according to the bank’s filing. Read More: JPMorgan Says Trump Improperly Included Dimon in Lawsuit Trump sued the bank and Chief Executive Officer Jamie Dimon in January, seeking at least $5 billion for allegedly “debanking” him and his companies following the Jan. 6, 2021, assault on the US Capitol by his supporters.
The US Supreme Court’s decision to strike down many of Donald Trump ’s tariffs offers some relief to Mexico and Canada, but a much bigger set of risks still hangs over the trade relationship that joins the three countries. The president said in the afternoon the US would impose a 10% levy on foreign goods under a different law. It took several hours before the White House clarified it’s leaving in...
The US Supreme Court’s decision to strike down many of Donald Trump ’s tariffs offers some relief to Mexico and Canada, but a much bigger set of risks still hangs over the trade relationship that joins the three countries. The president said in the afternoon the US would impose a 10% levy on foreign goods under a different law. It took several hours before the White House clarified it’s leaving in place an exemption for many goods shipped under the US-Mexico-Canada Agreement. That exemption means the effective tariff rate for Canada and Mexico will decline. Until the court decision, products that didn’t qualify for the USMCA exemption were taxed at 35% if from Canada and 25% if from Mexico. For Mexico and Canada, the events provided more proof of the value of the tripartite trade deal, which was signed during Trump’s first term. But the president’s frustration over the court’s decision also raises the risk he may try to radically alter or even blow up USMCA altogether in pursuit of the tariff revenue he wants. The USMCA carve-out exemption allows the US to continue to import oil and other resources from Canada and Mexico tariff-free, and avoids greater disruption in the trade of key manufacturing inputs such as automotive parts. US Trade Representative Jamieson Greer , when asked about existing exemptions, said the White House was seeking “continuity” with the new tariff order, which will take effect on Feb. 24, the day Trump delivers his State of the Union speech to Congress. Read More: Trump’s Trade War and the Economic Impact: Tariff Tracker Both countries were cautious in response to the Supreme Court’s decision. Mexican Economy Minister Marcelo Ebrard said he planned to reach out to his counterparts in Washington and to travel to the US next week to address trade issues. Dominic LeBlanc , the Canadian minister for US trade, said the justices’ ruling reinforced Canada’s position that tariffs under the US International Emergency Economic Powers Act were “unjustif...
Washington Post Editorial Board Brutally Mocks Mamdani Margaret Thatcher once said, “The trouble with Socialism is that eventually you run out of other people's money,” and New York City's new socialist mayor, Zohran Mamdani, is learning just how right she was , and New Yorkers are going to pay a hefty price for it. On Tuesday, a mere two months after declaring he would “replace the frigidity of r...
Washington Post Editorial Board Brutally Mocks Mamdani Margaret Thatcher once said, “The trouble with Socialism is that eventually you run out of other people's money,” and New York City's new socialist mayor, Zohran Mamdani, is learning just how right she was , and New Yorkers are going to pay a hefty price for it. On Tuesday, a mere two months after declaring he would “replace the frigidity of rugged individualism with the warmth of collectivism,” Mamdani announced a $127 billion preliminary budget for fiscal year 2027 , a $5 billion increase from the prior year, while simultaneously warning residents of "painful" tax hikes if state officials refused to bail him out to cover his socialist policies. “ That’s a city budget bigger than the state budgets of 47 states . Even the state government of Florida (population 23 million) spends less than New York City’s,” explains The Washington Post editorial board. “And the state still managed to attract hundreds of thousands of New Yorkers in recent years.” “The reality is that The reality is that Americans may like the idea of ‘free’ stuff — it’s how socialists win elections — but they are less excited about having to pay for it” they continued. “They’re even less excited when they live in a state that ranks at the very bottom of the Tax Foundation’s State Tax Competitiveness Index.” During a press conference earlier this week, Mamdani called on New York Gov. Kathy Hochul to raise income taxes on the “ultra-wealthy” help fund his budget for New York City. “The onus for resolving this crisis should not be placed on the backs of working and middle-class New Yorkers,” Mamdani said. “If we do not fix this structural imbalance and do not heed the calls of New Yorkers to raise taxes on the wealthy, this crisis will not disappear. It will simply return, year after year, forcing harder and harsher choices each time. And if we do not go down the first path, the city will be forced down a second, more harmful path. Faced with no oth...
DKosig/iStock via Getty Images The rotation out of US equities is in its second year and going strong. The rest of the world may be having its share of problems, but underperforming stocks is not one of them. Here is a brief snapshot of how things are going in other parts of the globe, relative to the flattish ways of the S&P 500 thus far. This got us to thinking about the last time non-US equitie...
DKosig/iStock via Getty Images The rotation out of US equities is in its second year and going strong. The rest of the world may be having its share of problems, but underperforming stocks is not one of them. Here is a brief snapshot of how things are going in other parts of the globe, relative to the flattish ways of the S&P 500 thus far. This got us to thinking about the last time non-US equities gripped the imagination and enthusiasm of the investing crowd. Let’s take a little trip back to the quaint world of this century’s first decade. Swan Song for the Global Age In hindsight, we know that it was the last gasp of the Global Age – the final five years of the quarter century in which the neoliberal trinity of open borders, light-touch regulation and unconstrained capital reigned as the unapologetic Zeitgeist. But for those of us living in those years, sandwiched in between the dot-com crash and the global financial crisis, 2003 to 2007 was just another chapter in the “end of history,” briefly interrupted from late-1990s good vibes by said bursting of the tech bubble, but with the Clinton-era directive to not stop thinking about tomorrow still circulating endlessly in our limbic regions. The US dollar, which had risen steadily during the world’s love affair with everything dot-com, held its own during the 2001 recession but started to falter the following year, setting the stage for what would become the great non-US equity rally of the mid-aughts. What caused the decline of the dollar and the related move out of dollar-denominated assets? Several variables were probably at play, including the simple fact that the late-90s tech boom was almost entirely a US affair, so a “sell America” impulse was natural when that play fell out of favor. But there was more to it than that. The outperformance by international equities of almost every stripe over their US counterparts was solid, structural and sustained over this entire five-year period. This was the period when Ch...
日前，美国一个博主nutty写一篇名为《The Future of Analog Circuit Design — Finding Opportunity in a Changing Landscape》的文章。在文章中，他探讨了模拟芯片的机会以及模拟芯片。 以下为文章正文： 大约十年前，我在一次博士生研讨会上向我的教授提出了一个问题。 我听说模拟电路设计已经基本不在美国做了，大部分都转移到了亚洲...
Move brings total number of people killed in US strikes on suspected boats since September to at least 148 The US military launched a strike on an alleged drug smuggling boat in the eastern Pacific on Friday, killing three men in its second strike this week. “Intelligence confirmed the vessel was transiting along known narco-trafficking routes in the Eastern Pacific and was engaged in narco-traffi...
Move brings total number of people killed in US strikes on suspected boats since September to at least 148 The US military launched a strike on an alleged drug smuggling boat in the eastern Pacific on Friday, killing three men in its second strike this week. “Intelligence confirmed the vessel was transiting along known narco-trafficking routes in the Eastern Pacific and was engaged in narco-trafficking operations,” US Southern Command, which oversees operations in Latin America and the Caribbean, said on Twitter/X . Continue reading...