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French private sector economy virtually stagnant in February
France’s private sector economy continued to lack any impetus for growth, February’s HCOB ‘flash’ PMI® survey data showed, with business activity levels virtually unchanged from the beginning of the year. Stagnation was also seen in employment after back-to-back months of expansion either side of the new year. Weighing on economic performance was a further reduction in new business inflows which shrank for a third successive month and at a pace that was the quickest since last July. Underlying data also revealed a heavy drag emanating from exports. Meanwhile, firms’ expectations for the year ahead weakened ... (full story)
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*TRUMP’S GLOBAL TARIFFS STRUCK DOWN BY US SUPREME COURT 
Supreme Court of the United States: Learning Resources, Inc. v. Trump, President of the United States The question presented is whether the International Emergency Economic Powers Act (IEEPA) authorizes the President to impose tariffs. See 91 Stat. 1626. Shortly after taking office, President Trump sought to address two foreign threats: the influx of illegal drugs from Canada, Mexico, and China, Presidential Proclamation No. 10886, 90 Fed. Reg. 8327; Exec. Order No. 14193, 90 Fed. Reg. 9113; Exec. Order No. 14194, 90 Fed. Reg. 9117; Exec. Order No. 14195, 90 Fed. Reg. 9121, and “large and persistent” trade deficits, Exec. Order No. 14257, 90 Fed. Reg. 15041. The President determined that the drug influx had “created a public health crisis,” 90 Fed. Reg. 9113, and that the trade deficits had “led to the hollowing out” of the American manufacturing base and “undermined critical supply chains,” id., at 15041. The President declared a national emergency as to both threats, deeming them “unusual and extraordinary,” and invoked his authority under IEEPA to respond. He imposed tariffs to deal with each threat. As to the drug trafficking tariffs, the Pre *SUPREME COURT RULES 6-3 AGAINST TRUMP ON TARIFFS Supreme Court does not address eligibility for tariff refunds.
Supreme Court of the United States: Learning Resources, Inc. v. Trump, President of the United States The question presented is whether the International Emergency Economic Powers Act (IEEPA) authorizes the President to impose tariffs. See 91 Stat. 1626. Shortly after taking office, President Trump sought to address two foreign threats: the influx of illegal drugs from Canada, Mexico, and China, Presidential Proclamation No. 10886, 90 Fed. Reg. 8327; Exec. Order No. 14193, 90 Fed. Reg. 9113; Exec. Order No. 14194, 90 Fed. Reg. 9117; Exec. Order No. 14195, 90 Fed. Reg. 9121, and “large and persistent” trade deficits, Exec. Order No. 14257, 90 Fed. Reg. 15041. The President determined that the drug influx had “created a public health crisis,” 90 Fed. Reg. 9113, and that the trade deficits had “led to the hollowing out” of the American manufacturing base and “undermined critical supply chains,” id., at 15041. The President declared a national emergency as to both threats, deeming them “unusual and extraordinary,” and invoked his authority under IEEPA to respond. He imposed tariffs to deal with each threat. As to the drug trafficking tariffs, the Pre *SUPREME COURT RULES 6-3 AGAINST TRUMP ON TARIFFS Supreme Court does not address eligibility for tariff refunds.
