Tonight, a federal trade court strikes down Trump's Liberation Day tariffs, what that means

for American businesses, the markets, and the global trade war.

Then Elon Musk breaks with Trump over his big, beautiful bill.

The massive spending package slated to explode the deficit over the next decade.

Also, betting big on, you guessed it, crypto. The administration

doubles down on digital currency while the Trump family rakes in the profits as the 11th hour

gets underway on this Wednesday night. All right, let's do this thing. Good evening. Once again I am Stephanie Ruhl and welcome to the midweek nightcap.

If you have not been counting, you're in luck because I have. It is day of 129 of the second Trump administration.

And there is major news tonight. Just hours ago, a federal court struck down Donald Trump's reciprocal tariffs.

Those are the ones he declared back on April 2nd, his so-called Liberation Day.

The court said his effort to justify them with broad claims of national emergencies

exceeded his legal authority.

Can you believe it?

The ruling caused stock futures to jump.

I'm going to say this to twice. The Trump policy that was put in place got struck down by the courts, and what

do the markets do? Jumped. They were excited about it. This is obviously a major blow to Trump's

economic agenda amid the administration has already filed an appeal. Trump is also facing pushback from

his number one supporter, you know him, Elon Musk. He has pretty much been opposed to those very

tariffs, and now it appears he is opposed to Trump's big, beautiful bill, and this could be driving

a wedge between the two men. Musk has complained that the budget proposal would undermine Doge's work,

that his cost-cutting team has been treated like Washington D.C.'s,

and I'm quoting him, Whipping Boy, and he is not too happy about the spending increases either.

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