Insights | Meridian Research Group | Page 4

Trade (IEEPA/Supreme Court Aftermath)

Assuming the Supreme Court bars the use of the International Emergency Economic Powers Act (IEEPA) to impose broad-based country-specific tariffs, questions arise around whether and how refunds will be available to the firms that have paid them this year (a total estimated at ~$90b at this point), as well as whether and how the administration will...

Trade (IEEPA/Supreme Court)

The Supreme Court heard oral arguments regarding President Trump’s imposition of tariffs under the International Emergency Economic Powers Act (IEEPA). Trump has used IEEPA to impose his sweeping “reciprocal” country-based tariffs. He used Sec. 301 to impose his first term tariffs on China and Sec. 232 to impose sector-based tariffs. Those...

Government Shutdown

Senate Majority Leader Thune has repeatedly commented over the last few days that he feels the government shutdown is getting close to ending, a sentiment echoed by various Democrats as well (e.g., Sens. Durbin (D-IL), Slotkin (D-MI), Cortez-Masto (D-NV), others). Democrats are reportedly increasingly open to Thune’s prior offer to support a...

Mergers & Acquisitions

Pfizer has filed two separate lawsuits against Metsera and Novo Nordisk (Novo). On October 31, Pfizer filed suit in the Delaware Court of Chancery (Chancery Court) alleging breaches of contract and fiduciary duty, as well as tortious interference in contracts. In its lawsuit, Pfizer alleges that Novo Nordisk's (Novo) offer cannot qualify as a...

Crypto Market Structure/Stablecoins

Senate Republicans are pushing for a vote on crypto market structure legislation in the Banking and Agriculture Committees by the end of this year. They had hoped the committee votes would take place in September, but negotiations with Democrats have not proceeded smoothly and the process is moving more slowly than anticipated. A set of...

Bank Capital/Liquidity

The Fed’s work to shift the direction of bank capital/liquidity requirements has begun to accelerate, with the release of its proposed changes to stress testing last week and what Vice Chair Bowman said would be finalization of its revisions to the eSLR in the “next few weeks or a month.” She didn’t specify a precise timeline for proposing Basel...