Morning Brew Daily Will SCOTUS Strike Down Trump’s Tariffs? & Paging Dr. ChatGPT
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Jan 9, 2026 A ruling from the Supreme Court on Trump's tariffs could impact the economy significantly, with potential refunds up to $150 billion. The December jobs report raises alarms about weak job growth and a tough hiring landscape ahead. In tech news, ChatGPT introduces a health feature connecting medical records, sparking privacy debates. Meanwhile, Google’s Gemini AI debuts in Gmail, but raises concerns about user data. Plus, Sandisk stock soars while Saks nears bankruptcy, highlighting the volatile retail landscape.
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Tariff Ruling Could Trigger Huge Refunds
- The Supreme Court may rule that Trump's use of the International Emergency Economic Powers Act didn't authorize tariffs, risking $150 billion in refunds.
- A likely decision could send the refund question to lower courts, creating a long, messy legal process for companies.
Tariffs Show Early Impact On Trade Balance
- October trade data showed the U.S. trade deficit shrank dramatically, suggesting tariffs may be reducing imports.
- Pharma exports rose as U.S. imports from Ireland fell, illustrating sector-specific effects of tariff policy.
Labor Market Showing Historic Weakness
- The December jobs report was expected to show weak job growth, capping the weakest hiring year since the early 2000s.
- Total 2025 job gains were projected at ~710,000, the worst outside recession years since 2003.
