May 31, 2019

Top business lobbying group mulls legal action over Mexico tariffs

Photo: Win McNamee/Getty Images

The U.S. Chamber of Commerce is considering options, including taking legal action, to block the Trump administration's newly announced tariffs on goods imported from Mexico. When asked on what grounds they plan to sue, a spokesperson for the business lobbying group told Axios: "that's being explored."

Why it matters: The U.S. Chamber of Commerce has staunchly opposed the Trump administration's tariff approach, but recently taken steps to court Trump on infrastructure, as Axios' Jonathan Swan reported earlier this month. John Murphy, the Chamber's senior vice president of international affairs, told reporters on Friday that the group feels there's no other option than to fight back against Trump's trade policy.

Go deeper: Trump announces new tariffs against Mexico

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Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.

The Fed may be setting the table for 2020 rate cuts

Illustration: Sarah Grillo/Axios

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October.

Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential recession.

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all-stock deal, the Wall Street Journal reports, with plans to acquire the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.