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2 hours ago
- Business
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US court blocks Trump's global tariffs
A US trade court has ruled against President Donald Trump's attempt to impose blanket global tariffs, stating he overstepped his authority in doing so. The decision, delivered by a three-judge panel at the Court of International Trade, marks a major setback for the Trump administration's aggressive trade strategy, which included unilateral taxes on foreign imports. The case centered on tariffs introduced in April on what Trump dubbed 'Liberation Day.' The measures imposed a 10 percent baseline tariff on imports from several countries and prompted a sharp reaction from financial markets. Trump defended the decision by citing a 'national emergency,' arguing that he did not require congressional approval. But the court disagreed, siding with five small American businesses that brought the lawsuit. The companies—ranging from wine distributors to musical instrument retailers—claimed the tariffs inflicted serious financial harm, threatening their survival. The Trump administration swiftly responded by filing an appeal, setting up the possibility of the case reaching the US Supreme Court. The decision drew praise from critics of the former president's trade policies. Oregon Attorney General Dan Rayfield described the tariffs as 'unlawful, reckless and economically devastating.' Senator Ron Wyden, the top Democrat on the Senate Finance Committee, said the measures 'jacked up prices on groceries and cars, threatened shortages of essential goods, and wrecked supply chains for American businesses large and small.' Meanwhile, the White House issued a defiant statement, saying, 'It is not for unelected judges to decide how to properly address a national emergency.' Stephen Miller, Trump's deputy chief of staff, went further, calling the ruling a 'judicial coup' in a social media post. Kush Desai, a spokesperson for the administration, defended the tariffs by saying trade deficits had 'decimated American communities and left our workers behind.' The ruling comes amid broader shifts in US trade policy. Earlier this month, Washington and London finalized a bilateral agreement to lower tariffs on British cars and eliminate duties on UK steel and aluminum. It remains unclear how the court's decision will affect that deal. Market reaction was swift. The US dollar climbed and futures markets rallied after the ruling. Ray Attrill, head of FX strategy at National Australia Bank, noted, 'The market is doing a kneejerk reaction… reversing a lot of the moves we've seen.'
Roya News
2 hours ago
- Business
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Elon Musk steps down from US government role
Tech entrepreneur Elon Musk has officially concluded his role in the Trump administration, announcing Wednesday evening that his tenure as head of the Department of Government Efficiency (DOGE) has ended. Musk, who was brought on as a special government employee, played a central role in advancing the administration's sweeping cost-cutting agenda. In a post on X, the social media platform he owns, Musk said, 'As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending. The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.' As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending. The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government. — Elon Musk (@elonmusk) May 29, 2025 DOGE was a hallmark of Trump's push to downsize federal operations. Under Musk's leadership, the department orchestrated one of the most aggressive reductions in the federal workforce in modern history. More than 120,000 government employees were either laid off or marked for termination within the administration's first 100 days, with thousands more opting into early retirement or buyouts. Numerous federal grants and programs were also scaled back or eliminated—though some were later reinstated after facing legal challenges. Musk's exit comes just as DOGE is expected to continue its work without him. Staff members embedded across federal agencies are reportedly set to remain in place for an extended period, possibly for years, according to sources familiar with the plan. A White House official confirmed that Musk had reached the 130-day limit for special government employees and would begin his formal offboarding process on Wednesday night, which primarily involves administrative paperwork. In the weeks leading up to his departure, Musk had gradually reduced his involvement in day-to-day government affairs, turning his attention back to his private ventures, including Tesla and SpaceX. Both companies have faced market pressures, partly attributed to Musk's close alignment with Trump, which has generated public and investor backlash. Tensions between Musk and the administration have also surfaced. In a recent interview with CBS Sunday Morning, Musk criticized Trump's expansive spending plan, expressing concerns about its potential to undermine the goals of DOGE. 'I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing,' he said. 'I think a bill can be big or it can be beautiful, but I don't know if it can be both.' The legislation in question, which Trump has referred to as his 'big, beautiful bill,' includes sweeping tax reductions and significant increases in defense and national security funding. To offset these measures, the bill proposes cuts to energy programs and overhauls of federal health and nutrition assistance. The Congressional Budget Office has warned that it could add approximately USD 3.8 trillion to the national deficit. President Trump responded to Musk's remarks with characteristic dismissal, telling reporters that the legislation is still evolving and likely to undergo changes in the Senate. 'I'm not happy with every part of the bill either,' Trump added. House Speaker Mike Johnson echoed the administration's continued support for DOGE, signaling that House Republicans are 'eager and ready' to enact spending cuts recommended by the department once a formal request is sent to Congress. Meanwhile, internal changes are also underway within DOGE. CNN reported Wednesday that Katie Miller, a senior adviser and spokesperson for the department, has stepped down and is now collaborating directly with Musk. While Miller did not respond to a request for comment, her White House email remains active, suggesting her exit may not yet be formally processed. Musk's departure has also raised questions about his future political involvement. Though he recently declared he intends to spend 'a lot less' on political campaigns moving forward, it remains unclear whether that signals a shift in his earlier pledge to invest USD 100 million in political groups aligned with President Trump. Musk previously poured over USD 290 million into supporting Trump's re-election efforts and GOP congressional campaigns in the 2024 cycle. His affiliated groups also spent more than USD 20 million on a Wisconsin Supreme Court race earlier this year—an election that ultimately did not go in his favor.
Roya News
2 hours ago
- Business
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Jordan's Olivewood Studios partners with American Shadowbox Studios
American film and television production studio Shadowbox Studios has announced a new partnership with Olivewood Studios in Amman, Jordan, Deadline reported. The studio is expanding its footprint beyond its own facilities and beginning to offer studio management and consulting services to third-party operations. The move marks a significant development for both companies. Olivewood, completed in 2023, is the first purpose-built film complex in Jordan, featuring two soundstages and a backlot. Situated in the country's capital, the studio was designed to support large-scale international productions in a region already known for its cinematic appeal. "Bringing Shadowbox's global expertise to Olivewood marks a pivotal step in our growth," said Jumana Sharbin, General Manager of Olivewood Studios. "Their operational strength and industry insight will be key as we scale up and deliver world-class productions in Jordan." Shadowbox Studios is best known for operating large facilities in Atlanta and the UK, including Shinfield Studios. Under the direction of newly appointed COO Mike Mosallam, the company is now broadening its services to include strategic support for other studios — from planning and logistics to full-scale operational management. 'After visiting Jordan late last year, my team and I were astonished by the breadth of available landscapes and the production service infrastructure already in place at Olivewood,' said Mosallam, who joined the company earlier this year following roles at Apple TV+ and Netflix. 'Now with the benefit of sound stages, the Kingdom is well-positioned to house and host domestic and international productions of any size.' Jordan has long been a favored destination for filmmakers, with its unique mix of ancient heritage sites and dramatic desert backdrops. Major Hollywood productions such as Dune, The Martian, Star Wars: Episode IX, and Aladdin have all filmed in the country, capitalizing on its cinematic landscapes like Petra and Wadi Rum. Despite a recent dip in international filming interest due to regional instability following the events of October 7, 2023, Jordan's film industry is actively working to regain momentum. The Royal Film Commission (RFC) used this year's Cannes Film Festival to highlight incentives, including a boosted 45 percent cash rebate for film and television productions. Officials also hinted at a major incoming international project. The collaboration with Shadowbox is expected to strengthen Olivewood's role in positioning Jordan as a viable and attractive hub for global film production.
Roya News
2 hours ago
- Politics
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US to 'aggressively' revoke Chinese students' visas
The Trump administration announced plans to intensify its restrictions on Chinese nationals studying in the US, signaling a tougher stance amid already strained US-China relations. Secretary of State Marco Rubio said Wednesday that the US will "aggressively revoke visas" for Chinese students, particularly those with ties to the Chinese Communist Party or who are pursuing studies in 'critical fields.' The new rules will also include stricter vetting procedures for visa applicants from China and Hong Kong. 'Under President Trump's leadership, the US State Department will work with the Department of Homeland Security to aggressively revoke visas for Chinese students,' Rubio said. 'We will also revise visa criteria to enhance scrutiny of all future visa applications from the People's Republic of China and Hong Kong.' The announcement comes as the two superpowers continue to clash over trade, technology, and national security. The Trump administration's broader strategy has already included sweeping tariffs on Chinese goods and increased scrutiny of academic and technological collaboration. While an estimated 280,000 Chinese students were enrolled in American institutions last year, officials have not specified how many could be affected by the new measures. Chinese nationals have historically made up the largest group of international students in the US, though that number has declined in recent years due to rising tensions and lingering effects of pandemic-era restrictions. Beijing sharply criticized the policy shift. 'We urge the US side to earnestly safeguard the legitimate rights and interests of international students, including those from China,' a Chinese official said on Wednesday. On Monday, US embassies around the world were directed to stop scheduling new student visa appointments as the State Department expands social media vetting for applicants. Existing appointments will remain in place, according to an internal memo reviewed by CBS News. The Trump administration has previously attempted to expel foreign students, revoke thousands of visas, and halt funding to universities it claims are politically biased. Many of these efforts have been challenged in court. In a related legal battle, Harvard University recently obtained a temporary court order blocking the federal government from revoking its certification to host international students. In its filing, the university warned the action would cause 'irreparable harm,' both financially and emotionally. Maureen Martin, who leads Harvard's office for international students, noted that scholars were experiencing 'significant emotional distress' and reconsidering their future in the US. 'Students are skipping graduation ceremonies, cancelling international travel, and some are already looking to transfer elsewhere,' she wrote.
Roya News
2 hours ago
- Politics
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"Israel's" Cabinet greenlights settlement expansion along Jordanian border
The Israeli Occupation's Cabinet approved a series of decisions on Thursday morning, including the establishment of 22 new settlements in the West Bank, the renewal of settlement activity in its northern region, and the construction of new settlements along the Jordanian border. In an official joint statement from the "Israeli" Minister of Defense, Israel Katz, his office's minister, and far-right Finance Minister Bezalel Smotrich, the move was described as a new escalation in the settlement project in the occupied Palestinian territories. The Hebrew-language newspaper Israel Hayom quoted Smotrich as saying, 'The next step is sovereignty,' referring to the Israeli Occupation's intention to formally annex these areas in the future. The move sparked angry reactions from Palestinian and international circles, amid warnings of a dangerous escalation and a further undermining of any efforts toward achieving a two-state solution.
