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Economists have warned that slow-walking the rebates for President Donald Trump’s now-defunct emergency tariffs could result in high costs for the government, given the interest that is accruing on revenues from the illegally collected duties.

On February 20, the Supreme Court ruled that the president was unable to impose tariffs under the International Emergency Economic Powers Act (IEEPA), which had been invoked for the majority of Trump’s global duties.

And according to a new analysis from the free-market-oriented Cato Institute, interest is compounding on the estimated $175 billion owed to importers at a rate of $20 million per day, or $700 million per month.

zerbaijan's foreign ministry lodged an official protest with the Iranian embassy on Thursday after a pair ‌of Iranian drones flew across the border into Azerbaijan and injured two people at an airport in the Nakhchivan exclave.

"This attack on the territory of Azerbaijan contradicts the norms and principles of international law and contributes to increased ⁠tensions in the region," the foreign ministry said in a statement.

"We demand that the Islamic Republic of Iran clarify the matter in the shortest possible time, provide an explanation and take the necessary urgent measures to prevent such incidents from recurring in the future."

Multiple times during Donald Trump’s second presidency, Congress has debated his military authority, first in Latin America and now the Middle East. The latest test will come in the GOP-controlled House on Thursday after the Senate voted down a Democratic measure to limit Trump, at least theoretically, in the U.S.-Israeli war against Iran.

Like many predecessors, Trump claims broad, even unlimited power over U.S. forces. He approved boat strikes near Venezuela, established a naval blockade and authorized a military operation to arrest and depose its leader, Nicolás Maduro — all arguable acts of war under international law. He made noise about additional action in Greenland and Latin America, before launching a sweeping bombing campaign in Iran.

Under the Constitution, the military reports to the president. But the document grants oversight roles to Congress. Trump says he won’t sign anything limiting his options — proof for some experts that control over a civilian-led military has skewed from its original design.

The Food and Drug Administration’s top drug regulator, Dr. Tracy Beth Hoeg, is working to hire a researcher and friend who wants the agency to add new warnings to antidepressants about unproven pregnancy risks, The Associated Press has learned.

Dr. Adam Urato, a maternal-fetal medicine specialist and critic of antidepressant safety, is pressing the FDA to add a boxed warning to SSRIs, the drugs most commonly prescribed for depression. Urato’s petition says the medications can cause pregnancy complications, including miscarriages and fetal brain abnormalities that may lead to autism and other disorders in children.

That proposed labeling change has become a top priority for Hoeg, who regularly consults with Urato and is working to bring him on as a full-time FDA employee, according to people familiar with the situation. They spoke to the AP on condition of anonymity to discuss confidential FDA matters.

Australia and Canada on Wednesday signed a series of new agreements on critical minerals, Prime Minister Mark Carney said, including Australia joining the G7 minerals alliance.

Western nations have been attempting to diversify their supply chains away from China, which still controls the majority of production and processing of critical minerals, essential for semiconductors and defence applications.

“Earlier today, we signed a series of new agreements on critical minerals, including Australia joining the G7 minerals alliance – the largest grouping of trusted democratic mineral reserves in the world,” Carney said in a speech to Australia’s parliament, on his final day of a three-day visit to the country.

The two countries produce around a third of global lithium and uranium, as well as over 40% of global iron ore.

Deploying the world’s most powerful military seems to exert an almost erotic fascination for Donald Trump

The prime minister’s cautious stance about helping the US against the Tehran regime mirrors that of the electorate

It was perhaps the most attention-grabbing moment of prime minister’s questions. Responding to yet another Conservative salvo about his approach to Iran and how it might affect ties with America, Keir Starmer was direct.

“American planes are operating out of British bases – that is the special relationship in action,” he said. “Sharing intelligence every day to keep our people safe – that is the special relationship in action. Hanging on to President Trump’s latest words is not the special relationship in action.”

And certainly in the last few days, hanging on to and then endlessly, painfully analysing Trump’s ever-changing opinions has become even more of a national pursuit than it was before.

Misty Roberts, 43, faces sentences of up to 10 and seven years in prison after July 2024 sexual assault at pool party

The former mayor of a Louisiana city has been convicted of raping a 16-year-old boy during a party at her house while she was still in office.

Misty Roberts, 43, faces sentences of up to 10 and seven years in prison after a jury in the municipality of DeRidder on Tuesday found her guilty of two felonies: carnal knowledge of a juvenile – or statutory rape – as well as indecent behavior with a minor.

In October, in an unrelated case, her 40-year-old brother, Brandon Lee Roberts, pleaded guilty to raping two people: an underage girl and a young woman. He subsequently received a 42-year prison sentence.

Analysis shows average levels are 30cm higher than thought, and up to 150cm in south-east Asia and Indo-Pacific

Sea levels around the world have been underestimated due to inaccurate modelling, with research suggesting ocean levels are far higher than previously understood.

The finding could significantly affect assessments of the future impacts of global heating and the effects on coastal settlements.

Globally, the research found ocean levels are an average of 30cm higher than previously believed, but in some areas of the global south, including south-east Asia and the Indo-Pacific, they may be 100-150cm higher than previously thought.

Rising sea levels are a major threat to coastal communities across the world, and the UN Intergovernmental Panel on Climate Change (IPCC) estimates that by 2100 levels may rise by 28-100cm.

US Treasury Secretary Scott Bessent said the US was "likely" to implement a 15% global tariff this week following conflicting statements from Donald Trump about the rate.

The new tariff is intended to replace the sweeping global import taxes Trump imposed last year but were recently struck down by the Supreme Court.

The White House responded to that ruling by imposing a levy at 10% — despite Trump claiming on social media it would be 15%.

The contradiction sparked widespread global confusion at the time, with businesses and world leaders calling for clarity.

Senate Democrats said after receiving a classified briefing from the Trump administration on Tuesday that they’re increasingly concerned about the US-Israeli war on Iran dragging on “forever”—and involving American troops in a ground invasion.

“I am more fearful than ever, after this briefing, that we may be putting boots on the ground,” Sen. Richard Blumenthal (D-Conn.) told reporters, criticizing the Trump administration for not providing the American public with information that was given to senators behind closed doors.

Blumenthal’s warning came a day after Donald Trump publicly declined to rule out a ground invasion of Iran, saying he doesn’t “have the yips with respect to boots on the ground.”

Democrats are already pointing to prices at the pump in hitting the administration for its decision to strike Iran, while Republicans say they hope the spike will be short-lived.

Barely a week after Donald Trump hailed falling gas prices as one of his economic triumphs, his actions are sending the cost per gallon back up.

The war Trump launched with strikes on Iran has spread across the Middle East, where more than a quarter of the world’s oil is produced.

Gas prices spiked almost immediately, undercutting a key data point in Trump's argument to skeptical Americans that the economy is soaring.

"Gasoline, which reached a peak of over $6 a gallon in some states under my predecessor — it was, quite honestly, a disaster — is now below $2.30 a gallon in most states, and in some places, $1.99 a gallon," Trump said in his State of the Union address.