
How a small wine company complicated Trump's sweeping tariff plans
Victor Schwartz was cooking dinner — a bottle of Vermentino wine already uncorked — when he received the news Wednesday evening.
A little-known federal trade court had overturned President Donald Trump's sweeping 'Liberation Day' tariffs, which had sent shock waves through markets worldwide in recent weeks. And Schwartz's tiny wine-importing company, V.O.S. Selections in New York City, was at the center of the lawsuit that had just thwarted the White House's plans.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Associated Press
7 minutes ago
- Associated Press
Zelenskyy says he backs Turkish proposal for a meeting with Trump and Putin
The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world's population sees AP journalism every day.
Yahoo
8 minutes ago
- Yahoo
TSMC says tariffs have some impact but AI demand robust
HSINCHU, Taiwan (Reuters) - U.S. tariffs are having some impact but demand for artificial intelligence (AI) remains strong and continues to outpace supply, the chief executive of Taiwanese chipmaker TSMC said on Tuesday. U.S. President Donald Trump's trade policies have created much uncertainty for the global chip industry and TSMC, the top producer of the world's most advanced semiconductors whose customers include Apple and Nvidia. C.C. Wei, speaking at the company's annual shareholders meeting in the northern Taiwanese city of Hsinchu, said they have not seen any changes in customer behaviour due to tariff uncertainty and the situation may become clearer in coming months. "Tariffs do have some impact on TSMC, but not directly. That's because tariffs are imposed on importers, not exporters. TSMC is an exporter. However, tariffs can lead to slightly higher prices, and when prices go up, demand may go down," he said. "If demand drops, TSMC's business could be affected. But I can assure you that AI demand has always been very strong and it's consistently outpacing supply." In April, the company, the world's largest contract chipmaker, gave a bullish outlook for the year on robust demand for AI applications. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

USA Today
12 minutes ago
- USA Today
Russia's 'Pearl Harbor': What to know about Ukraine's audacious drone strike
Russia's 'Pearl Harbor': What to know about Ukraine's audacious drone strike Ukraine unleashed more than a hundred drones smuggled deep into Russia in what it called its most damaging attack yet. Show Caption Hide Caption Donald Trump 'disappointed' with Vladimir Putin President Donald Trump told reporters he was 'disappointed' with Russian President Vladimir Putin, referencing latest attacks on Ukraine. Ukraine said the strikes on Russian strategic bombers had caused $7 billion in damage. "It had an absolutely brilliant outcome," Zelenskyy said. 'It is impossible to restore these losses,' Rybar, a pro-Kremlin Telegram channel, said. WASHINGTON − Ukraine destroyed dozens of enemy bombers using a horde of drones smuggled deep into Russia in a stunning attack that Russian war bloggers are calling Moscow's Pearl Harbor. It was the most damaging Ukrainian attack on Russia in the three years since Moscow invaded. Ukrainian intelligence said the coordinated strikes on June 1 took a $7 billion toll on Russia's military and demolished more than a third of Moscow's strategic cruise missile carriers, including planes cabable of carrying nuclear warheads. Ukrainian President Volodymyr Zelenskyy called the massive attack, which he said used 117 drones, his country's "longest-range operation." More: War in Ukraine rages on as Putin's 3-day ceasefire nears: updates in maps Russia's Pearl Harbor? "It had an absolutely brilliant outcome," Zelenskyy said on Telegram. "Russia has had very tangible losses, and justifiably so." Oksana Markarova, Kyiv's ambassador to the United States, called the attack a "very successful defensive operation in Russia against Russian aircraft that, on a daily basis, bomb our hospitals and schools and kill our kids." Speaking at an AI event in Washington, Markarova said it was "the best example of how innovation can and should work in defense." With Ukraine set to meet Russia for U.S.-brokered peace talks the next day and amid aggressive Russian advances on the battlefield, the ambitious June 1 attack showed neither side is counting on a breakthrough in negotiations. "We hope that the response will be the same as the US response to the attack on their Pearl Harbor or even tougher," Russian war blogger Roman Alekhin wrote on Telegram, comparing the Ukrainian strike to the 1941 Japanese raid on a U.S. base in Hawaii. 'It is impossible to restore these losses,' reported Rybar, a pro-Kremlin Telegram channel. Ukrainian 'Spider's Web' The operation, code-named "Spider's Web," was characteristic of the style of warfare Ukraine has made its brand as it attempts to undercut Russia's larger military – flooding the zone with cheap, deadly drones. But the scope of this attack set a new precedent. The drones, strapped with explosives, were hidden inside the roofs of wooden sheds, which were dropped off by trucks at the outer edge of Russian military bases, a Ukrainian security official told Reuters. The roofs then opened by remote control, unleashing the drones to swarm the military bases. Ukraine's intelligence service said 41 Russian aircraft were hit at four air bases stretching from the Finnish border to Siberia. One targeted base, in the Irkutsk region, lies more than 2,600 miles from the front lines, making it the farthest target Ukraine has hit during the conflict. Russia's defense ministry acknowledged in Telegram messages June 1 that drones launched "from an area in close proximity to airfields resulted in several aircraft catching fire." The operation came a day after Russia launched a massive overnight attack on Ukraine using 472 drones and seven missiles, according to Ukraine's air force – the most drones launched in one operation throughout the conflict. Separately on June 1, Ukraine struck two highway bridges in Russian regions close to its borders, killing seven people and injuring 69. One bridge collapsed on a train carrying nearly 400 passengers to Moscow, according to Russian investigators. Three of the missiles and 372 drones were downed, the air force said. Peace talks restart as Trump loses patience with Russia Ukraine launched the operation a day before Ukraine and Russia will meet for U.S.-mediated negotiations in Istanbul to end the grinding conflict. President Donald Trump has pressed both sides for a ceasefire. Earlier this year, his focus was trained on Ukraine, sparking tension with Zelenskyy that exploded into public view during a combative Oval Office meeting in late February. But in recent weeks, Trump has grown more frustrated with Russian President Vladimir Putin's dug-in position in negotiations. In his starkest criticism of Putin to date, Trump wrote that Putin had "gone absolutely CRAZY" after Russia launched a barrage of drones and missiles into Ukrainian cities last weekend that killed a dozen people. "I've always had a very good relationship with Vladimir Putin of Russia, but something has happened to him. He has gone absolutely CRAZY!" Trump wrote in a May 25 Truth Social. Trump said days later in the Oval Office that he was "very disappointed" that "people were killed in the middle of what you would call a negotiation." (This article was updated to correct the misspelling of President Volodymyr Zelenskyy's last name.)