Axios

President Trump said on Saturday that he would hike global tariffs to 15%, one day after the Supreme Court ruled a bulk of import taxes were illegal.

Why it matters: The administration moved swiftly to replace the tariffs scrapped by the nation's highest court. Now Trump is upping the ante by raising the tariffs to the highest limit allowed under a separate trade law.

The Trump administration is prepared to consider a proposal that allows Iran "token" nuclear enrichment if it leaves no possible path to a bomb, a senior U.S. official told Axios.

Why it matters: This suggests there could be an opening, if only a small one, between the red lines set by the U.S. and Iran for a deal to constrain Iran's nuclear capabilities and prevent war.

• But at the same time, Trump has been presented with military options that involve directly targeting the supreme leader.

U.S. Ambassador to Israel Mike Huckabee suggested in a recent interview with Tucker Carlson that, under a biblical interpretation, Israel could claim a right to territory spanning much of the Middle East.

Why it matters: The interview between Carlson and Huckabee comes amid a contentious saga between the two over their differing views on Israel.

The Supreme Court struck down President Trump's tariffs but was silent on whether that money must be refunded — leaving the $175 billion question to an obscure trade court.

Why it matters: If you're a business — or even a consumer — hoping for some kind of tariff refund, somehow, from somewhere, prepare to wait years for any decisions to be made.

The Motion Picture Association on Friday sent a cease-and-desist letter to ByteDance, alleging the Chinese tech giant has been involved in "pervasive and widespread infringement" of its members' intellectual property, according to a copy of the letter obtained by Axios.

Why it matters: It marks the first time the MPA, which represents all of the major Hollywood studios, has sent a cease-and-desist letter to a major AI firm.

Reps. Josh Gottheimer (D-N.J.) and Mike Lawler (R-N.Y.) will oppose a War Powers Act resolution designed to restrain President Trump on Iran, the two lawmakers tell Axios.

Why it matters: Their opposition to a resolution from Reps. Ro Khanna (D-Calif.) and Thomas Massie (R-Ky.), expected to reach the House floor next week, will make it harder to pass.

The Supreme Court may finally decide the fate of President Trump's trade agenda as soon as Friday.

The big picture: Small businesses sued to block Trump's tariffs last spring. Analysts had initially expected a swift ruling from the highest court, but the uncertainty has dragged on for longer than expected.

The cost to fill up your car will probably climb soon — and the oil price spike over Iran tensions is only one reason.

Why it matters: Gasoline is the most visible energy expense for many people. That makes it politically important, too.

President Trump is directing his administration to begin releasing government documents related to aliens and unidentified flying objects (UFOs), he announced Thursday evening.

The big picture: Trump's comments on Truth Social came hours after he accused former President Obama of disclosing classified information for saying aliens are "real" in a podcast last week.