Copper Prices Hit Record High as Trump Unveils 50% Tariffs

This Wall Street Journal "What's News" PM edition covers several top business and economic headlines. The U.S. Supreme Court lifted a halt on President Trump's plan to shrink the federal workforce, potentially leading to mass layoffs. Trump is also threatening to impose reciprocal tariffs on U.S. trading partners, including a 50% tariff on copper, which has driven copper prices to an all-time high. EU member states are divided on how to negotiate trade deals with the U.S. Major U.S. indexes were mixed amid trade deal uncertainty, and the National Federation of Independent Business reported a slight dip in its small business optimism index. Additionally, New York City real estate developers are shifting their support from former Governor Andrew Cuomo to Mayor Eric Adams for reelection. Finally, President Trump issued an executive order calling for tight application of eligibility rules for clean energy tax credits. Other news includes Goldman Sachs hiring former UK Prime Minister Rishi Sunak as a senior advisor, and Kirk Tanner leaving Wendy's to become CEO of Hershey.