🚀 Trump tariffs challenged in court but remain active for now

In partnership with

Find out why 1M+ professionals read Superhuman AI daily.

In 2 years you will be working for AI

Or an AI will be working for you

Here's how you can future-proof yourself:

1. Join the Superhuman AI newsletter – read by 1M+ people at top companies

2. Master AI tools, tutorials, and news in just 3 minutes a day

3. Become 10X more productive using AI

Join 1,000,000+ pros at companies like Google, Meta, and Amazon that are using AI to get ahead.

Sign up and start learning AI

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. A federal appeals court has temporarily reinstated former President Trump’s tariffs, pausing a lower court’s decision that struck them down as unconstitutional overreach. The U.S. Court of Appeals for the Federal Circuit granted the stay while it reviews the administration’s appeal, giving Trump’s team time to pursue further legal options, potentially at the Supreme Court. The lower trade court, including a Trump-appointed judge, had ruled that Trump’s use of the International Emergency Economic Powers Act to impose sweeping tariffs exceeded presidential authority. Critics of the tariffs argue they inflict serious economic harm; Trump officials vow to find alternative ways to impose them if the legal route fails.

2. Costco beat Wall Street expectations for both earnings and revenue, with sales increasing 8% and e-commerce sales up nearly 16%, yet its shares dipped slightly on Thursday. The warehouse giant posted $4.28 earnings per share and $63.21 billion in revenue for the quarter, citing its ability to navigate new Trump-era tariffs as a potential advantage over competitors. CEO Ron Vachris said Costco preemptively rushed shipments and rerouted products to avoid tariff-heavy routes, while maintaining competitive prices on staples like eggs and butter. Still, costs are rising, and select items, such as flowers, have seen price hikes. However, Costco’s bulk-buying power and limited product selection help it manage inflation better than most.

3. Elon Musk’s newly incorporated company town of Starbase, Texas—formerly Boca Chica Village—has warned residents that a proposed zoning overhaul could strip them of the right to use their properties as they currently do. The town, now governed by SpaceX employees following a recent election, aims to implement a “Mixed Use District” zoning ordinance that blends residential, commercial, and service uses. A public hearing is set for June 23, and a city memo emphasized the potential loss of existing usage rights under Texas law. Starbase’s transformation allows Musk’s SpaceX nearly unchecked control over the 1.6-square-mile area, which includes its Starship launch site; an expansion supported by billions in federal contracts despite a series of rocket test explosions.

4. Headlines

   1. Fed Chair Jerome Powell met with Donald Trump yesterday to discuss his public comments on the Federal Reserve’s interest rate decisions.

   2. The SEC has dropped its case against Binance as it continues to end its enforcement cases against cryptocurrency companies.

Are you looking to grow your business? Here is how I can help: 

📱Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

The key to a $1.3T opportunity

A new real estate trend called co-ownership is revolutionizing a $1.3T market. Leading it? Pacaso. Led by former Zillow execs, they already have $110M+ in gross profits with 41% growth last year. They even reserved the Nasdaq ticker PCSO. But the real opportunity’s now. Until 5/29, you can invest for just $2.80/share.

Invest in Pacaso today.

_{This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC.}

Onwards and Upwards,

Liam Gill