President Donald Trump's administration on Thursday asked the Supreme Court to allow enforcement of a ban on transgender people in the military, while legal challenges proceed. The high court filing follows a brief order from a federal appeals court that kept in place a court order blocking the policy nationwide. Meanwhile, another federal judge temporarily blocked Trump's push to end DEI in K-12 public schools.
Also, state and local election officials from across the country are meeting to consider Trump's executive order that seeks major changes to how elections are run, the first time those in charge of the nation's voting will formally gather to weigh in on its implications.
Here's the latest:
Tariffs impact: Here's what some corporations are telling investors:
1. Procter & Gamble said Thursday it's doing whatever it can to reduce higher costs from Trump's tariffs, but will likely have to raise prices for consumer products as early as July.
2. PepsiCo lowered its full-year earnings expectations, citing a pullback in consumer spending and Trump's 25% tariff on imported aluminum.
3. Merck trimmed its earnings forecast. The pharmaceutical giant gets half its revenue in the U.S. market and expects tariffs implemented so far to cost the company about $200 million.
4. American Airlines withdrew its earnings forecast for the year as economic uncertainty prompts consumers to cut back on travel.