Trade

• Bessent says Trump admin will be able to replicate tariffs even if it loses Supreme Court decision - The Treasury secretary cited several sections of 1962 Trade Act that give the president sweeping powers over import duties.
• India is set to host Russia's Putin, deepening trade ties, unfazed by punitive U.S. tariffs - The two countries are looking to strengthen trade ties and are likely to sign bilateral interdepartmental and business agreements during Putin's visit.
• Delayed tariff impact starting to hit, could cause companies to reduce head count in 2026 - President Trump's tariffs, aimed at reshoring American jobs lost to overseas manufacturing, could end up lowering head count instead
• Tesla CEO Elon Musk bats for H-1B visa, says tariffs distort markets - Tesla CEO raises concerns over Trump's tariff policy and says he does not support closing of the H-1B visa program.
• Costco sues for Trump tariff refunds before Supreme Court rules on if they're illegal - Costco joins dozens of other companies that are seeking to protect their rights to refunds of Trump's tariffs without first waiting for the Supreme Court.
• India's industrial output grew just 0.4% in October, missing estimates - India's industrial output suffered due to weak manufacturing output and mining activity, low electricity consumption.
• An industry focused on death faces an existential crisis - The small, family run companies that make traditional memorialization products like gravestones are facing the dual challenges of tariffs and cremation.