March 2, 2026
13,555
208
102
2.29%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
5:12Now PlayingHenrietta Treyz, Co-Founder at Veda Partners, discusses the domestic reaction to US strikes on Iran.
US President Donald Trump said the bombing campaign against Iran could last for weeks and called on the nation’s leaders to capitulate, while the Islamic Republic’s security chief ruled out negotiations.
The conflict continued to reverberate across the Middle East on Monday, with blasts heard across Israel, Saudi Arabia, Qatar and the United Arab Emirates, as states intercepted Iranian missiles launched in response to US-Israeli strikes. Oil surged the most in four years and airlines suspended flights, causing major disruptions at some of the world’s busiest airports.
The US said three fighter jets crashed in Kuwait due to an apparent friendly fire incident. Israel expanded its campaign to Beirut after coming under attack from Hezbollah fighters in southern Lebanon, who are allied with Tehran.
Oil traded about 10% higher near $80 a barrel as traders gauged the impact of the war on energy flows, with tanker traffic through the vital Strait of Hormuz at a near halt.
QatarEnergy suspended production of liquefied natural gas due to attacks on its facilities, while operations were paused at Saudi Arabia’s largest refinery after a drone strike. Fuel prices soared across global markets. Stocks tumbled. A federal appeals court rejected the Trump administration’s request to delay next steps in the fight over tariff refunds for importers, after the US Supreme Court struck down the president’s signature economic policy.
In an order Monday, the US Court of Appeals for the Federal Circuit took immediate steps to reopen the legal proceedings and send the case back to the US Court of International Trade. The court denied the government’s request to maintain a pause for as long as four months.
A group of small businesses whose case was before the justices had urged the Federal Circuit in Washington, DC, to immediately close out its phase of the litigation so that they can move ahead with pursuing refunds as soon as possible.
More than 2,000 tariff lawsuits have been filed so far, nearly all of which were lodged in the trade court in New York after the Supreme Court heard arguments in November. The trade court paused all of the cases until the Supreme Court ruled.
The Federal Circuit didn’t offer a written explanation for its decision, and there was no dissent listed.
Read More: Trump Faces 2,000 Tariff Lawsuits Following Supreme Court Loss
The US Justice Department had argued that the appeals court should wait not only for the Supreme Court to finalize its judgment, but also “to allow the political branches an opportunity to consider options.”
The Supreme Court usually takes 32 days to formally close out a case. The government had urged the appeals court to keep the proceedings on hold for an additional 90 days before sending it back to the trade court.
In a 6-3 ruling announced on Feb. 20, the court held that Trump’s use of a 1977 emergency powers law to impose the global tariffs was unlawful.
The administration appeared to acknowledge that a refund process is inevitable in recent court filings, but didn’t offer an explicit commitment to repay businesses the full amount of levies they paid over the past year.
President Donald Trump has added to the uncertainty about the refund question, telling reporters shortly after the Supreme Court ruled on Feb. 20, “I guess it has to get litigated.” He also suggested the administration might push the justices to reconsider their ruling, a request the high court almost never grants.
The trade court hasn’t signaled yet how it plans to proceed.
Liberty Justice Center, a legal advocacy group representing importers in the case that went before the Supreme Court, said in a statement that, “For months, the government argued for delay. Today, the courts made clear: enough.”
A Justice Department spokesperson did not immediately respond to a request for comment.
The case is V.O.S. Selections Inc. v. Trump, 25-1812, US Court of Appeals, Federal Circuit.
--------
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
Follow us on X
Subscribe to our Podcasts:
Bloomberg Daybreak
Bloomberg Surveillance
Bloomberg Intelligence
Balance of Power
Bloomberg Businessweek
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay
Android Auto
Visit our YouTube channels:
Bloomberg Podcasts
Bloomberg Television
Bloomberg Originals
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.