US-Australia Rare Earths Deal, Trump Tariffs Case, and Ukraine Sanctions | Bloomberg

US-Australia Critical Minerals Pact

• 🤝 President Trump and Australian Prime Minister Anthony Albanese signed a pact to boost US access to rare earths and critical minerals.
• 🌏 This deal aims to counter China's dominance in supply chains for metals essential to electric vehicles, semiconductors, and fighter planes.
• 💰 Australia has an $8.5 billion pipeline of mines and processing projects ready for joint investment.
• ⏳ However, it is expected to take 8-9 years for new mines and processing capabilities to come online, meaning reduced dependence on China will take years.

Supreme Court to Hear Trump Tariffs Case

• ⚖️ Small businesses are urging the Supreme Court to rule against President Trump's global tariffs, calling them an illegal tax on American companies.
• 🏛️ The court will hear arguments on whether Trump legally invoked the International Emergency Economic Powers Act to impose these tariffs.
• 📉 US tariffs have already impacted sales, with Swiss watch exports to the US falling 55% in September.

Ukraine Sanctions and Russia Relations

• ⏸️ Senate Majority Leader John Thune is pausing legislation on new Russia sanctions until after President Trump's meeting with Russian President Vladimir Putin.
• 💸 The proposed bill could impose up to 500% tariffs on imports from countries buying Russian energy without supporting Ukraine.
• ❓ President Trump expressed uncertainty about Ukraine's ability to win the war, stating, "Anything can happen."

Other News Highlights

• 🌐 Amazon cloud services were restored after a 15-hour outage that disrupted numerous internet services globally.
• 📈 Netflix is expected to report strong earnings, driven by new hits, returning series, and growing advertising sales.
• 🦃 Walmart anticipates offering its lowest prices in years for butterball turkeys this Thanksgiving.
• 🕊️ Israel's military reported that Palestinian militants handed over the remains of 13 hostages since the ceasefire began.
• 🚨 Police in Atlanta thwarted a potential mass shooting at the Hartsfield Jackson International Airport.
• 👶 A newborn baby was found safe in a New York City subway station during the morning commute.
• 🇫🇷 Former French President Nicolas Sarkozy began his prison sentence for criminal conspiracy.