Daniel Bach

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Here's your morning brief for Tuesday, February 24th.

I'm Daniel Bach for The Wall Street Journal.

We're exclusively reporting that the Trump administration is considering placing tariffs on six industries under national security grounds.

That includes levies on large-scale batteries, industrial chemicals, and power grid and telecom equipment.

The president is looking for new ways to impose duties in his bid to reshape global trade after the Supreme Court ruled most were illegal, including those issued under the International Emergency Economic Powers Act.

FedEx has filed a lawsuit against the U.S.

government seeking a full refund plus interest for what it paid in trade duties stemming from President Trump's tariffs enacted last year.

The Supreme Court's decision didn't address whether the government will have to pay back the tariff revenue it already has collected, but it did say that challenges to the tariffs fall within the jurisdiction of the Court of International Trade.

A handful of other companies are also suing the Trump administration trying to recoup some of the tariffs paid, including Costco, Revlon, Bumblebee Foods, and Kawasaki Motors.

And U.S.

stock futures are pointing to a higher open following yesterday's sell-off, sparked by fears of AI disruption and trade policy uncertainty.

Software and financial stocks have slipped in Asia and Europe this morning, but overall markets seem to have stabilized.

That said, one of the drags on the Dow yesterday was also airline stocks, which tumbled as the so-called bomb cyclone battered the East Coast, grounding thousands of flights.

Airports including JFK and Logan have seen major disruptions, with another 2,000 flights canceled in the U.S.

so far today.

And we've got a lot more coverage of the day's news on the WSJ's What's News podcast.

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