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   U.S. fights court order on tariff refunds
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   Plus: Atlanta Fed warns inflation remains too high, and Trump's Iran strategy stalls
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         Iran &amp; Energy
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         Tuesday, August 11, 2026
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         <a style="color: #17253d; text-decoration: none;">
          Government challenges court order to refund tariffs to all importers, not just plaintiffs
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          The Trump administration is fighting a Court of International Trade ruling that ordered U.S. Customs and Border Protection to issue refunds to every importer that paid tariffs later deemed illegal — including companies that never sued. In its opening brief filed Monday with the U.S. Court of Appeals for the Federal Circuit, government lawyers argue that Judge Richard Eaton overstepped his authority by issuing a universal injunction, a legal tool recently curtailed by the Supreme Court in a June 2025 birthright citizenship case
known as CASA. The government contends the refund order cannot be squared with that ruling.
         </p>
         <p style="margin:12px 0 0;">
          The practical stakes are enormous. CBP has already processed and certified roughly $100 billion in refunds. The dispute now centers on a narrower but still significant category: importers whose tariff entries were finalized and for which a congressional rule bars CBP from reprocessing refunds administratively.
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          For businesses and their legal teams, the outcome will determine whether companies 
that chose not to litigate can still recover duties — or whether only those that filed suit are entitled to relief. The Federal Circuit's decision will also signal how broadly post-CASA limits on universal injunctions apply to trade disputes, with implications for future tariff challenges across the import economy.
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          Read more at The Seattle Times ›
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         Iran &amp; Energy
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          Oil steadies near one-week highs as US-Iran peace prospects dim
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          Oil prices held near their
highest levels in more than a week on Tuesday after hopes for a swift U.S.-Iran agreement to reopen the Strait of Hormuz faded further. Brent crude was flat at $87.81 a barrel and West Texas Intermediate held at $82.20, both benchmarks having surged more than 5% on Monday after President Trump countered Iran's peace conditions with demands that Tehran pay compensation for deaths linked to Iranian-backed conflicts. Trump also said the U.S. Navy now controls the strait and has cleared it of Iranian mines. Barclays estimates that crude and refined
product exports through Hormuz fell to 3 million barrels per day last week. KCM Trade's chief market analyst Tim Waterer said there is a clear gap between U.S. and Iranian positions on what any deal would look like, unwinding last week's optimism. For energy markets and businesses exposed to freight and fuel costs, a prolonged standoff keeps supply constrained and price volatility elevated.
         </p>
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          Read more at Reuters ›
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          US-Iran economic toll mounts as Switzerland talks collapse and Hormuz stays shut
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          Talks between the U.S. and Iran planned for Friday in Switzerland have 
been called off, according to the Swiss foreign ministry, deepening the economic strain on both sides of the Hormuz conflict. Iran's currency is collapsing, its industrial capacity is damaged, and inflation is running close to 88%. American consumers are also feeling effects: gas prices are up roughly 13 cents from last month and nearly a dollar from a year ago, and overall U.S. inflation stands at about 3.5%, still above the Fed's 2% target. The breakdown in diplomacy signals a protracted disruption to global energy supply 
chains.
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         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at NewsNation ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
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          Trump pivots to financial pressure on Iran as weapons stockpiles thin and talks stall
         </a>
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          With U.S. 
munitions stockpiles depleted and diplomatic talks stalled, the Trump administration is betting that financial pressure alone can force Iran to end its nuclear program and fully reopen the Strait of Hormuz to oil and gas tankers. Trump said Monday he now intends to demand compensation from Iran, mirroring Tehran's own claims, while arguing the country is on the verge of economic collapse. The pivot to a longer-term sanctions strategy — after Trump himself acknowledged that 50 years of economic pressure had previously failed — raises questions 
about how quickly financial leverage can end an active military conflict.
         </p>
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        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at NewsNation ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          Depleted US weapons stockpiles constrain Trump's military options against Iran
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          After more than five months of airstrikes, the U.S.
military's supply of premier long-range missiles and key missile defense interceptors is nearly exhausted, limiting President Trump's ability to authorize major new combat operations against Iran. The Army has reportedly used up virtually all of its ATACMS surface-to-surface munitions and precision strike missiles. Former Defense Secretary Leon Panetta called the shortage the result of poor Pentagon planning and warned it creates dangerous vulnerability at a moment when threats from Russia and China — particularly a potential Taiwan contingency
— remain real and pressing.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at The Hill ›
         </a>
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
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          Houthi attacks on Yemen port city heighten shipping risks as Hormuz stays closed
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Iranian-backed Houthi 
rebels renewed strikes Tuesday on government-controlled areas in Yemen, raising fears of a reignited civil war and new threats to the Red Sea and Bab el-Mandeb Strait — an alternate export route for Saudi oil with the Strait of Hormuz effectively shut. Iran's foreign minister reiterated that Hormuz will not reopen until the U.S. ends its blockade of Iranian ports and meets other conditions, a stance that came after Trump demanded compensation from Iran. Any escalation in Yemen's south could choke a shipping corridor that global energy and trade
flows increasingly depend on.
         </p>
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        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at Atlanta Journal-Constitution ›
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          Atlanta Fed's Venable says inflation remains too high, links easing to Middle East resolution
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Atlanta Fed 
interim President Cheryl Venable said Tuesday that inflation is still too high, with any meaningful easing tied directly to the resolution of the Middle East conflict. A clear end to the war would free up oil shipments and ease energy prices, she wrote, while prolonged conflict would do the opposite. Venable described the labor market as broadly stable despite an unexpected loss of 23,000 jobs in July, though she flagged stagnating labor force growth — driven by stricter immigration policy and an aging workforce — as an unusual and potentially 
lasting constraint on U.S. economic capacity.
         </p>
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        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at Reuters ›
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         Regulation &amp; Corporate
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         <a style="color: #17253d; text-decoration: none;">
          FDA unveils ingredient transparency rules as RFK Jr. food overhaul advances
         </a>
        </h3>
        <div style="font-size:17px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          The FDA has proposed new rules designed to make the food system more transparent, a central plank of Health Secretary Robert F. Kennedy Jr.'s promised overhaul of federal food policy. The regulations would govern how companies add new ingredients, increasing disclosure requirements for the industry. Notably, guidelines specifically targeting ultraprocessed foods were not included in Monday's announcement, suggesting the administration is moving in stages. Separately, Gulf states are adjusting their energy and trade strategies 
around the assumption that Iran's control of the Strait of Hormuz is not a temporary condition — a shift with lasting consequences for global oil logistics and regional business investment.
         </p>
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         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at The Wall Street Journal ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          Trump Media posts $238 million quarterly loss, abandons crypto and betting expansion
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Trump Media and Technology Group, the parent of 
Truth Social, lost $238 million in the second quarter — more than 10 times its loss from a year earlier — as a diversification push into crypto and online betting burned through capital. The per-share loss widened to 86 cents from 8 cents. New CEO Kevin McGurn said Monday the expansion strategy will be largely abandoned in favor of refocusing the company on its core social media mission. The results underscore the difficulty of transforming a politically branded platform into a diversified technology business.
         </p>
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0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at Atlanta Journal-Constitution ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
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          Courts hit Meta with mounting child safety penalties, raising pressure to change platforms
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Meta is absorbing a series of costly courtroom 
defeats in child safety cases across the U.S. A New Mexico court last week ordered the company to pay $567 million into a teen mental health fund, adding to a separate $375 million fine imposed after a March jury verdict found Meta negligently allowed harm to children and concealed knowledge of child sexual exploitation on its platforms. A Los Angeles court also found Meta liable for $4.2 million in damages for addictive platform design. The accumulating legal exposure is forcing questions about whether Meta must fundamentally alter how its 
platforms operate.
         </p>
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         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at The Guardian ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          HCA Healthcare workers picket over pay as company posts $6.8 billion in profits
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Union workers at HCA Healthcare, the largest for-profit hospital system in
the U.S., are holding informational pickets at more than a dozen hospitals in California, Texas, Nevada, and Florida as contract talks intensify. The 22,000 U.S. workers represented by SEIU are seeking a $25 minimum wage pathway, cost-of-living raises, and improved benefits. HCA reported $6.8 billion in profits while some workers, like an El Paso environmental services technician earning $16.80 an hour, say stagnant wages make basic expenses unmanageable. The dispute puts labor cost pressure on a sector already navigating elevated 
inflation.
         </p>
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        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at The Guardian ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          Trump backs data centers even as bipartisan opposition grows at the local level
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          President Trump is pressing his case for AI data center expansion as a strategic priority, pitching 
them as both a counter to China and an economic benefit to host communities — even as polls show Americans broadly oppose data centers near their homes and lawmakers from both parties are capitalizing on that sentiment. Trump's March Ratepayer Protection Pledge aimed to ensure data center construction would not raise energy bills, but he simultaneously downplayed concerns that it would. The growing disconnect between federal promotion and local political backlash creates regulatory and siting risk for developers counting on an accommodating 
policy environment.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at CNN ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          Judge temporarily blocks New York City's new tax on high-value second homes
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          A judge has temporarily blocked New York City's newly enacted tax on 
high-value second homes, pausing a measure that would have imposed additional costs on owners of investment and luxury residential properties. The injunction introduces uncertainty for the city's revenue projections and for real estate investors who had been factoring the tax into holding-cost calculations. The legal challenge signals that the policy's path to implementation remains contested.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at Quartz ›
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         On the Ballot
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        <h3 style="margin:0 0 8px;font-family:Inter, Arial, sans-serif;font-size:24px;line-height:1.3;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          Wisconsin and Minnesota primaries test whether progressive wins can extend to critical swing states
         </a>
        </h3>
        <div style="font-size:17px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Democratic primaries Tuesday in Wisconsin and Minnesota are the latest installments in the party's running ideological battle between its progressive and establishment wings. In Wisconsin, state representative Francesca Hong, a self-described democratic socialist, enters as the front-runner for the gubernatorial nomination in a state central to Democratic hopes in the 2028 cycle and beyond. In Minnesota, Lt. Gov. Peggy Flanagan faces centrist Rep. Angie 
Craig for an open Senate seat. The contests follow Abdul El-Sayed's narrow progressive victory in Michigan last week, which energized the left while alarming party leaders who fear leftward shifts will cost Democrats in November midterms across competitive states. For business and political strategists mapping the regulatory landscape, the outcomes will clarify which ideological direction is driving Democratic candidate selection in states that will decide legislative and gubernatorial power.
         </p>
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        <div style="padding:8px 0 
0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at The Guardian ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          South Carolina Republicans vote in special primary to replace the late Sen. Lindsey Graham
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          South Carolina Republicans are casting ballots Tuesday in a special primary to fill the Senate seat left vacant by Lindsey Graham, who died July 11. Graham's sister Darline Graham, appointed to serve out the remainder of his term and endorsed by President Trump, faces a crowded field that includes two U.S. House members, former Gov. Mark Sanford, and one of Graham's earlier primary opponents. The race for the rare open Senate seat in a reliably Republican state will test whether family ties and a presidential endorsement 
outweigh concerns about political inexperience.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at The Seattle Times ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          Alabama Republicans hold special primary in district redrawn after Supreme Court weakened Voting Rights Act
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Six Republicans are competing Tuesday in a special primary for an 
Alabama congressional district redrawn following a Supreme Court decision that severely weakened the Voting Rights Act, a ruling Alabama Republicans used to nullify ongoing primary results and switch to new maps. The district had been created by federal court order to give Black voters — who make up 27% of Alabama's population — a second majority or near-majority seat. The outcome will determine who challenges Democratic incumbent Rep. Shomari Figures in a seat that Republicans are now structurally favored to win under the new 
map.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at The Boston Globe ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          Arizona Gov. Hobbs picks former Republican Mesa mayor as running mate in centrist bid
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Arizona Gov. Katie Hobbs named former Mesa Mayor 
John Giles as her running mate Tuesday, making an explicit play for center-right voters and independents ahead of a competitive reelection fight in a state where Republicans hold a substantial voter registration edge. Giles led Mesa from 2014 to 2025 as a Republican before breaking with the party in the Trump era, endorsing Hobbs in 2022 and Kamala Harris in 2024. He is now registered as independent. This is the first Arizona election in which gubernatorial candidates choose a lieutenant governor running mate.
         </p>
        </div>
        <div style="padding:8px 0
0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at Axios ›
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        <h4 style="margin:0 0 6px;font-size:19px;line-height:1.35;color:#17253d;text-align:left;">
         <a style="color: #17253d; text-decoration: none;">
          Wisconsin governor's race is the sharpest test yet for progressive Democrats in a true swing state
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          With Francesca Hong leading the Democratic primary for Wisconsin governor, the race represents
a more consequential test of progressive electoral strength than Michigan's Senate contest, according to Cook Political Report's Jessica Taylor. Wisconsin is among the most evenly divided states in the country, and national Democrats are worried that Hong has struggled in media appearances and lacks strong campaign infrastructure — problems that could hurt in a general election. Taylor noted that a Democratic strategist summarized the bar as simply needing Hong to come across as normal, underscoring the challenge of translating progressive 
momentum into general-election viability in a battleground state.
         </p>
        </div>
        <div style="padding:8px 0 0;text-align:left;">
         <a style="color: #121721; text-decoration: none; font-weight: 600; font-size: 14px;">
          Read more at NPR ›
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          Ohio Rep. Max Miller stays on ballot past replacement deadline despite domestic abuse allegations
         </a>
        </h4>
        <div style="font-size:16px;line-height:1.6;color:#121721;text-align:left;">
         <p style="margin:0;">
          Republican Rep. Max Miller 
declined to exit his reelection race in Ohio's 7th Congressional District after Monday's deadline to replace him on the general election ballot passed without action, despite party pressure following domestic abuse allegations from his ex-wife. Miller won his last race with just 51% in a three-way contest; the district now leans 55%-44% Republican under current maps. His Democratic challenger, union ironworker Brian Poindexter, is campaigning on a pledge to serve with honor, and Democratic House campaign groups are monitoring the race as a 
potential pickup opportunity.
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