Bloomberg Daybreak: Europe Edition Looming US Tariff Ruling, Iran Internet Shutdown, Rio-Glencore Merger Talks
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Jan 9, 2026 Peter Navarro, an economist and former Trump trade advisor known for his strong stance on China, shares his insights on upcoming Supreme Court rulings concerning tariffs. He examines the legal implications and potential refund processes tied to these import taxes. Navarro also discusses alternative strategies the administration might consider if tariffs are deemed illegal. The conversation dives into the political stakes of these decisions and Navarro's relentless work ethic and mission-driven approach during his time in the White House.
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Supreme Court Could Upend Tariff Regime
- The Supreme Court may rule on the legality of President Trump's wide tariffs under the 1977 emergency law.
- A negative ruling could expose the US to tens of billions in refund claims and market shock.
Iran's Internet Blackout Amid Protests
- Iran cut internet and phone services amid nationwide protests after a currency crash.
- The unrest poses a direct challenge to Supreme Leader Ayatollah Khamenei and has prompted lethal crackdowns.
Major Mining Merger Talks Resurface
- Rio Tinto and Glencore are in renewed talks potentially creating a $200 billion mining giant.
- The merger would combine Rio's iron ore strength with Glencore's superior copper assets amid record copper demand.