WSJ What’s News – AM Edition
Episode: Trump Admin Pushes for Quick Supreme Court Tariff Decision
Host: Azhar Sukri
Date: September 4, 2025
Episode Overview
This episode covers several breaking stories impacting business, finance, and politics in the U.S. and globally. Major topics include the Trump administration’s push for an expedited Supreme Court ruling on tariffs, court decisions affecting Harvard’s research funding, proposed changes to the CDC led by Health Secretary Robert F. Kennedy Jr., and Republican efforts to challenge corporate climate action initiatives.
Key Discussion Points & Insights
1. Trump Administration’s Push for Quick Supreme Court Tariff Decision
- Background: The administration is appealing a ruling that found the president exceeded authority by imposing global trade tariffs under emergency powers.
- What’s at Stake: Up to $1 trillion in potential tariff revenues could be held up or unwound if legal uncertainty continues.
- Immediate Impact: Trade talks with other countries are stalling due to the “legal limbo” (01:54).
- Quote:
- “Other countries are holding off on striking deals because they’re not yet sure about the status of these tariffs.”
— Quentin Webb, Deputy Finance Editor, (01:54)
- “Other countries are holding off on striking deals because they’re not yet sure about the status of these tariffs.”
- Small Business Concerns: The plaintiffs—small businesses—also favor a quick resolution due to harm from the tariffs.
- Legal Question: Whether the International Emergency Economic Powers Act of 1977 gives the president authority to impose tariffs, or if those are constitutionally considered taxes outside the law’s remit (02:54).
- Market Reactions: The potential loss of tariff revenue unsettled bond markets, which saw a sell-off after the court ruling, highlighting concerns over U.S. fiscal sustainability (03:34).
2. Federal Judge Restores Harvard's Research Funding
- Ruling: A U.S. District Judge found that the Trump administration’s $2.2 billion funding cut violated Harvard’s constitutional rights and was “a targeted, ideologically motivated assault” (04:18).
- Impact on Research:
- “I've been wanting to create custom stem cell therapies for heart disease, and obviously that needs funding, that needs support. ... This funding not being cut is funding that can come towards my project, come towards my goals.”
— Sia Patel, Harvard Medical School student, (05:03)
- “I've been wanting to create custom stem cell therapies for heart disease, and obviously that needs funding, that needs support. ... This funding not being cut is funding that can come towards my project, come towards my goals.”
- Next Steps: The Trump administration plans to appeal; future federal funding for Harvard remains uncertain.
3. White House Seeks Greater Control over the Federal Reserve
- Nomination: The Senate is considering confirming Stephen Myron, a senior White House economic adviser, to the Fed’s Board of Governors.
- Implications: This could challenge longstanding norms about Fed independence, with the President attempting to directly influence monetary policy.
4. Health Secretary RFK Jr.’s Radical CDC Overhaul
- Restructuring Plans: Kennedy aims to refocus the CDC exclusively on infectious diseases and transfer other programs (chronic disease, environmental health, HIV, etc.) to a new agency.
- Internal Fallout: Over 1,000 current/former HHS employees have called for Kennedy’s resignation; three top CDC officials—including Chief Medical Officer Dr. Deborah Howrey—have resigned, citing risks to public health (07:17).
- Quote:
- “The reorganization plans would remove the Chronic Disease center, the Injury center, some of our environmental health work, birth defects … Not having those at CDC means that when we have an overdose in communities, we're not going to be able to respond to them.”
— CDC Official, (07:17)
- “The reorganization plans would remove the Chronic Disease center, the Injury center, some of our environmental health work, birth defects … Not having those at CDC means that when we have an overdose in communities, we're not going to be able to respond to them.”
- Congressional Oversight: Kennedy is expected to face Senate scrutiny, particularly concerning agency turmoil and resignations.
5. GOP Attorneys General Challenge Corporate Climate Action
- New Front: 23 Republican AGs—led by Iowa’s Brenner Byrd—are investigating groups like the Science Based Targets Initiative (SBTi), alleging anti-competitive behavior and that net zero standards harm state industries (08:44).
- Role of SBTi & CDP:
- “They basically help companies to report on their climate emissions, validate their transition plans to try and get to net zero.”
— Yousef Khan, Sustainability Reporter, (09:58)
- “They basically help companies to report on their climate emissions, validate their transition plans to try and get to net zero.”
- Legal Strategies: Moving from Congressional actions to state AG lawsuits, targeting both asset managers and sustainability reporting bodies (10:38).
- Debate Over Red Tape: While climate initiatives add costs (mainly for accounting and strategy), supporters argue that more disclosure helps investors make informed decisions (11:26).
Notable Quotes & Memorable Moments
- On Tariff Uncertainty:
- “If a ruling is delayed until June 2026 ... that could result in up to $1 trillion in tariffs which have already been collected, potentially being unwound.”
— Quentin Webb (01:54)
- “If a ruling is delayed until June 2026 ... that could result in up to $1 trillion in tariffs which have already been collected, potentially being unwound.”
- On Harvard Funding:
- “A lot of that money is being used for life saving research ... it’s not like the advances that are being made from Harvard are insular. They're to help the general public.”
— Harvard Research Advocate (00:41)
- “A lot of that money is being used for life saving research ... it’s not like the advances that are being made from Harvard are insular. They're to help the general public.”
- On Public Health Risks:
- “Not having those at CDC means that when we have an overdose in communities, we're not going to be able to respond to them.”
— CDC Official (07:17)
- “Not having those at CDC means that when we have an overdose in communities, we're not going to be able to respond to them.”
- On Corporate Climate Reporting:
- “Investors want more disclosure. The more information investors have, the more they can make decisions based on where they actually want to put their money.”
— Yousef Khan (11:26)
- “Investors want more disclosure. The more information investors have, the more they can make decisions based on where they actually want to put their money.”
Important Timestamps
- 00:18 — Episode headlines and rundown
- 00:53 — Overview of Trump administration’s Supreme Court appeal on tariffs
- 01:54 — Quentin Webb on urgency and market impact of tariff litigation
- 02:54 — Legal details on the Supreme Court’s review of tariff authority
- 03:34 — Market and investor reactions to court rulings
- 04:18 — Federal judge restores Harvard’s funding
- 05:03 — Harvard medical student on the importance of research funding
- 07:17 — CDC official on ramifications of proposed agency restructuring
- 08:44 — GOP AGs move against climate initiatives; reporter discussion
- 09:58 — What SBTi and CDP do for corporate climate action
- 10:38 — Legal strategies Republican AGs are using
- 11:26 — Costs and benefits debate over climate disclosure requirements
This episode provided in-depth analysis of pivotal legal, financial, and political confrontations shaping U.S. policy and global markets, balancing rapid news delivery with high-level insight from WSJ reporters and experts.