Trump's "Liberation Day" tariffs were ruled illegal. What happens now?
President Trump has claimed the authority to bypass Congress and impose sweeping tariffs, but a new ruling throws that in doubt.
Tariffs
Breaking down end of the low-cost tariff exemption
The Trump administration has ended the de minimis exemption, implementing tariffs on most items shipped to the U.S. that have a value under $800. The change is already sparking confusion for international delivery services and businesses, with some shipments paused. Carter Evans has more.
End of de minimis loophole means higher prices for overseas goods, experts say
As of Aug. 29, shipments to the U.S. valued at less than $800 are subject to tariffs, potentially resulting in surprise costs for consumers.
Trump's import change could drive up prices
An exemption that allowed low-value parcels shipped to the United States to avoid tariffs has ended, the Trump administration said. Imtiaz Tyab has more on the fallout.
Court rules most of Trump tariffs are illegal
A federal appeals court on Friday ruled that most of President Trump's global tariffs are unconstitutional. Plus, a federal judge heard arguments on Friday from Federal Reserve Governor Lisa Cook's lawyers for an emergency temporary restraining order to block President Trump from ousting her. CBS News White House reporter Aaron Navarro has more.
Dow Jones dips after new July inflation data
The Dow Jones fell on Friday after new data showed inflation remained mostly steady in July, but with some prices edging up. CBS News senior business and technology correspondent Jo Ling Kent has the details.
Biggest takeaways from the government's latest inflation data
Persistent inflation remains a pain point for consumers — and for the Federal Reserve as it weighs whether to lower interest rates.
Vital import tax exemption scrapped
The Trump administration is scrapping the de minimis tax exemption for parcels valued at $800 or less. BancAlliance's Lori Bettinger joins CBS News with more details.
"De minimis" U.S. tariffs exemption ends for low-value imports
An exemption that allowed low-value parcels shipped to the U.S. to avoid tariffs has ended, Trump administration officials say.
Trump's 50% tariffs on India now in effect
President Trump's steep 50% tariff on Indian goods is now in effect. The president had initially announced a 25% tariff on India, but earlier this month he signed an executive order imposing an additional 25% tax because India buys Russian oil. CBS News business contributor Javier David has more.
Whirlpool hopes Trump's tariffs will give company a competitive edge
Here's why American appliance maker Whirlpool thinks Trump's tariffs will help its business.
Whirlpool bets on tariffs to boost sales
Whirlpool, which makes 80% of its appliances in the U.S., is looking to ramp up production as the Trump administration's new tariffs take effect. Senior vice president Jason Ebert talks about how the company hopes tariffs will help it compete with foreign rivals.
Reporter's Notebook: Economic data vs. narrative
President Trump's praise of a controversial ad campaign gave American Eagle a boost, but his tariffs weigh heavier than words. "CBS Evening News" co-anchor John Dickerson explains.
Several countries suspend shipments to U.S.
India, France and Austria joined a growing list of countries Monday that have suspended postal shipments to the United States over President Trump's import tariffs. CBS News senior business and tech correspondent Jo Ling Kent has more.
Canada to remove retaliatory tariffs on many U.S. goods
Prime Minister Mark Carney said Canada is dropping 25% tariffs on a long list of U.S. products to ease trade tensions.
Products impacted by U.S.-EU trade deal
The Trump administration and the European Union are sharing new information about a trade framework between the EU and United States. CBS News senior business and technology correspondent Jo Ling Kent has the details.
PS5 gets price hike after Trump tariffs
Sony is raising prices on all three of its PlayStation 5 consoles by about $50 in the U.S. due to what the company calls "challenging economic times." And earlier this month, Nintendo announced it would also raise prices due to market conditions. CNET consumer insights editor Dashia Milden joins CBS News to discuss what other products could soon cost more.
U.S. reaches EU trade agreement framework
The U.S. has released details on the framework for a trade agreement with the European Union. Allie Kelly, a Business Insider economy reporter, joins CBS News with more information.
4 reasons why the Trump tariffs haven't caused U.S. inflation to soar
For months, economists warned that the Trump administration's sweeping tariffs would sharply boost consumer prices. Here's why it hasn't happened.
Trump expanding steel and aluminum tariffs
The Trump administration says it is adding 407 items to the list of "derivative" steel and aluminum products subject to higher tariffs. The list includes products like car parts, household appliances, baby strollers, fire extinguishers and spray deodorants. Axios business reporter Nathan Bomey joins CBS News to discuss.
S&P reaffirms the U.S. credit rating, citing higher tariff revenue
S&P said it is maintaining the AA+ rating on the U.S. as it expects tariff revenue will shore up the nation's finances.
Back to school season is here. See these tips to save money.
Families are shopping early for school supplies and scouting for discounts amid concerns about the potential impact of tariffs.
Iowa National Guard to help ICE operations
Iowa Republican Gov. Kim Reynolds this week directed the state's National Guard to assist with Immigration and Customs Enforcement operations beginning in September. CBS News Iowa station KCCI's chief political reporter Amanda Rooker joins "The Takeout" to discuss.
July wholesale prices up more than expected
The Dow Jones dipped slightly on Thursday after new inflation data showed that wholesale prices rose more than expected last month. CBS News senior business and technology correspondent Jo Ling Kent reports.
PPI report shows biggest surge in three years. Here's what that means.
Here's what new data from the producer price index says about where inflation is headed, according to economists.
Live
U.S. beginning effort to "guide" stranded ships out of Strait of Hormuz
President Trump announced the U.S. would "guide" ships not involved in the war with Iran out of the Strait of Hormuz. A U.S.-led task force says it has started the operation.
Why some white nationalists are showing up at areas hit by natural disasters
After natural disasters, white nationalists, militias, and conspiracists often arrive, offering help. But they also want to recruit and improve their image.
Rudy Giuliani hospitalized in critical condition, spokesperson says
There was no immediate reason given for the 81-year-old's hospitalization.
2 U.S. service members missing amid training exercise in Morocco
The service members were participating in African Lion, the largest joint military exercise on the continent.
Press gala shooting suspect moved off suicide watch, records show
In a motion requesting Allen's removal from suicide watch, his lawyers said that the restrictions amount to "violations of his rights under the Due Process Clause."
Shooting at lake near Oklahoma City leaves at least 12 injured
At least 12 people were at hospitals following a shooting at party at Arcadia Lake, near Oklahoma City, police say.
Sen. Raphael Warnock: Supreme Court "poured fuel on this redistricting arms race"
Democratic Sen. Raphael Warnock of Georgia called the Supreme Court's decision last week to strike down Louisiana's congressional map and weaken the Voting Rights Act "a massive and devastating blow."
Former guerrillas learn about birding in Colombia
Years after he was kidnapped by guerrillas in Colombia, a bird expert decided to introduce his former captors to birding, thinking they might make good guides.
United flight landing at Newark strikes light pole, truck on N.J. Turnpike
An investigation is underway after a United Airlines plane struck a light pole and truck on the New Jersey Turnpike as it was coming in for a landing at Newark Liberty Airport on Sunday afternoon, officials said.
U.S.
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Shooting at lake near Oklahoma City leaves at least 12 injured
At least 12 people were at hospitals following a shooting at party at Arcadia Lake, near Oklahoma City, police say.
Man arrested at Trump Miami golf club for disturbance, Secret Service says
The incident occurred one week after shots were fired during the White House Correspondents' Dinner in Washington, D.C., and Mr. Trump was rushed off the dais.
Rudy Giuliani hospitalized in critical condition, spokesperson says
There was no immediate reason given for the 81-year-old's hospitalization.
Video shows United flight strike truck on N.J. Turnpike before landing at Newark
An investigation is underway after a United Airlines plane struck a light pole and truck on the New Jersey Turnpike as it was coming in for a landing at Newark Liberty Airport on Sunday afternoon, officials said.
Press gala shooting suspect moved off suicide watch, records show
In a motion requesting Allen's removal from suicide watch, his lawyers said that the restrictions amount to "violations of his rights under the Due Process Clause."
MoneyWatch
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Overtourism: Too much of a good thing?
"Sunday Morning" looks at the impacts that increasing numbers of tourists, spurred in large part by social media, are having in some of the world's most popular and fragile destinations.
Berkshire Hathaway has 1st annual meeting without Warren Buffett
The company's first-quarter profit more than doubled as the value of its investments grew and most of its businesses improved.
Spirit Airlines shutting down after failed effort at government rescue deal
The budget carrier Spirit Airlines is ceasing operations after failing to land a $500 million bailout from the Trump administration.
Pickleball Inc. $225 million deal creates new home for sport
The deal merged Major League Pickleball and the Carvana PPA Tour, two of the nascent sport's most active entities, under one company, Pickleball Inc.
Exclusive
Ford CEO says company is focusing on making vehicles more affordable
Ford CEO Jim Farley tells CBS News, "Most of our new models are going to be more affordable versions."
Politics
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Man arrested at Trump Miami golf club for disturbance, Secret Service says
The incident occurred one week after shots were fired during the White House Correspondents' Dinner in Washington, D.C., and Mr. Trump was rushed off the dais.
Rudy Giuliani hospitalized in critical condition, spokesperson says
There was no immediate reason given for the 81-year-old's hospitalization.
Rep. Jason Crow says U.S. is "not good at having off ramps" in Middle East
Democratic Rep. Jason Crow of Colorado said on Sunday that the U.S should be considering a broader question of strategy in the war with Iran.
Sen. Raphael Warnock: Supreme Court "poured fuel on this redistricting arms race"
Democratic Sen. Raphael Warnock of Georgia called the Supreme Court's decision last week to strike down Louisiana's congressional map and weaken the Voting Rights Act "a massive and devastating blow."
Transcript: Kevin Hassett on "Face the Nation with Margaret Brennan," May 3, 2026
The following is the transcript of the interview with White House National Economic Council Director Kevin Hassett that aired on "Face the Nation with Margaret Brennan" on May 3, 2026.
HealthWatch
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HealthWatch
5/3: Sunday Morning
Hosted by Jane Pauley. Featured: The effects of overtourism; horse therapy; a tool to help keep dementia in check; Sting on "The Last Ship"; a golf journalist takes over a failing golf course; a Mozart exhibition; and collecting PEZ dispensers.
A tool to help keep dementia in check
Many people fear that a family history of dementia dooms them to inevitably suffer the condition themselves. But a new tool, the Brain Care Score, shows how lifestyle changes can be beneficial, cutting the risk of dementia. National Public Radio correspondent Allison Aubrey talks with neurologist Dr. Jonathan Rosand about how making changes to your daily habits might just be the prescription needed.
A tool to help keep dementia in check
Many people fear that a family history of dementia dooms them to inevitably suffer the condition themselves. But a new tool, the Brain Care Score, shows how lifestyle changes can be beneficial, cutting the risk of dementia.
Horsepower: How horses are therapeutic
Horses can form powerful bonds with people owing to their ability to sense and feel human emotions. Endeavor Therapeutic Horsemanship, in Bedford Corners, N.Y., has programs that help people with disabilities, veterans with PTSD, and the incarcerated through interactions with their horses. "60 Minutes" correspondent Lesley Stahl reports.
Football practice was leaving a teen fatigued. A rare cancer was to blame.
Cameron Rider's fatigue, body aches and fever were diagnosed as pneumonia, but he couldn't seem to get better.
World
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Apparent hantavirus outbreak kills 3, sickens at least 3 more on cruise ship
A suspected outbreak of the rare hantavirus on a cruise ship in the Atlantic off Africa killed three people and sickened at least three others, health officials say.
Ukraine hits Russian oil assets, including "shadow fleet" tankers
Ukraine has launched a wave of strikes against Russia's oil export infrastructure, including tankers in its "shadow fleet."
Transcript: Kevin Hassett on "Face the Nation with Margaret Brennan," May 3, 2026
The following is the transcript of the interview with White House National Economic Council Director Kevin Hassett that aired on "Face the Nation with Margaret Brennan" on May 3, 2026.
Transcript: Rep. Jason Crow on "Face the Nation with Margaret Brennan," May 3, 2026
The following is the transcript of the interview with Rep. Jason Crow, Democrat of Colorado, that aired on "Face the Nation with Margaret Brennan" on May 3, 2026.
Transcript: Minneapolis Fed president and CEO Neel Kashkari on "Face the Nation with Margaret Brennan," May 3, 2026
The following is the transcript of the interview with Minneapolis Fed president and CEO Neel Kashkari that aired on "Face the Nation with Margaret Brennan" on May 3, 2026.
Entertainment
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Entertainment
5/3: Sunday Morning
Hosted by Jane Pauley. Featured: The effects of overtourism; horse therapy; a tool to help keep dementia in check; Sting on "The Last Ship"; a golf journalist takes over a failing golf course; a Mozart exhibition; and collecting PEZ dispensers.
Sting embarks on "The Last Ship"
The English city of Newcastle was hometown of the rock musician Sting, who as a young man witnessed the city's shipbuilding business dry up. He's paid homage to his town's heritage by writing and starring in a musical, "The Last Ship."
Extended interview: Sting
In this web exclusive, the rock musician Sting talks with Mark Phillips about his stage musical, "The Last Ship," in which he stars, and which is being performed on a global tour. He calls the show an elegy for what Newcastle and its people represented to him growing up. He also discusses why, for him, uncertainty is a key component of art; why performing "Roxanne" today is never tiresome; and why, for him, music is a church.
Sting embarks on "The Last Ship"
For centuries the English city of Newcastle was a hard-scrabble industrial powerhouse that built ships. It was also the hometown of the rock musician Sting, who as a young man witnessed the city's shipbuilding business dry up. He's paid homage to his town's heritage by writing and starring in a musical, "The Last Ship," which he's now taking on an international tour. He talks with Mark Phillips about his long career, and why he can't stop working.
Passage: In memoriam
"Sunday Morning" remembers some of the notable figures who left us this week, including songwriter David Allan Coe, famous for his country hit "Take This Job and Shove It."
Technology
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Technology
Almanac: May 3
"Sunday Morning" looks back at historical events on this date.
Reducing data center impact on U.S. power grid
Powerful artificial intelligence data centers are putting a significant strain on the nation's power grid, but one U.S.-based company has a proposal to help solve the issue. Jon Parella, CEO and founder of Terraflow Energy, joins to discuss.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Apple's latest earnings beat expectations
Apple's latest earnings report beat Wall Street expectations. CBS News contributor Patrick McGee joins with more.
Elon Musk concludes testimony in OpenAI trial
Elon Musk's testimony concluded Thursday in his lawsuit against OpenAI. Nicholas Thompson, CEO of The Atlantic and host of "The Most Interesting Thing in AI" podcast, joins "The Takeout" with analysis.
Science
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Science
Bill Nye on the Artemis II moon mission
Bill Nye The Science Guy, the chief ambassador of The Planetary Society, joins CBS News 24/7 Mornings with more after meeting the Artemis II crew in person after their successful mission around the moon.
Trump administration fires board overseeing National Science Foundation
The Trump administration has fired all 22 current members of an independent board that oversees the National Science Foundation, one dismissed member says.
AI used to reveal face of victim fleeing Mount Vesuvius eruption
Archaeologists found the victim holding a terracotta mortar, which they interpret as an improvised attempt to shield his head.
In a first, endangered orangutan seen using canopy bridge to cross road
Rapid development has been shrinking the jungle habitat of the critically endangered species, and fatal conflicts with people have been increasing.
Saving the Venus fly trap
The carnivorous Venus fly trap is native to the Carolinas, but its population is dwindling due to loss of habitat. Correspondent Seth Doane talks with botanist Julie Moore, who has spent much of her life helping to save these remarkable plants; and with Damon Waitt, director of the North Carolina Botanical Garden, who discusses the unusual traits of a species that Charles Darwin called the most interesting plant in the world.
Crime
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Shooting at lake near Oklahoma City leaves at least 12 injured
At least 12 people were at hospitals following a shooting at party at Arcadia Lake, near Oklahoma City, police say.
Man arrested at Trump Miami golf club for disturbance, Secret Service says
The incident occurred one week after shots were fired during the White House Correspondents' Dinner in Washington, D.C., and Mr. Trump was rushed off the dais.
Press gala shooting suspect moved off suicide watch, records show
In a motion requesting Allen's removal from suicide watch, his lawyers said that the restrictions amount to "violations of his rights under the Due Process Clause."
Stalked woman shot at 14 times by ex-boyfriend during horrific 911 call
Gloria Choi and her friends called Lakewood, Washington, 911 four times in 48 hours to report her being stalked by an ex-boyfriend. Two days later, he ran her off the road and riddled her truck with bullets as she was on the line with a 911 dispatcher.
New video of correspondents' dinner suspect
New video shows the alleged White House Correspondents' Dinner shooter breaching event security after roaming the hotel hallways prior to the dinner.
Space
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Artemis crew surprises 5-year-old aspiring astronaut with special gift
The Artemis II team gained a new member, and the crew made sure their youngest teammate had the right stuff for space.
Artemis II crew reveals what snack they ate right after splashdown
The Artemis II astronauts said they actually really enjoyed the space food, but it was a familiar candy they enjoyed after splashing down in the Pacific Ocean.
Artemis II astronauts talk mission toilet troubles: "We made do"
The plumbing issues aboard the Orion capsule became headline news in the early days of the historic Artemis II mission.
Only on CBS
Artemis crew tells kids moon flight was "the best roller coaster ride"
The Artemis II astronauts joined "CBS Mornings" for a live town hall where they took questions from kids just weeks after returning from their historic moon mission.
SpaceX launches Falcon Heavy rocket carrying powerful satellite
SpaceX's most powerful operational rocket boosted a high-speed ViaSat internet data relay satellite into space to complete a globe-spanning constellation.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
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Latest CBS News Videos
5/3/2026: Disaster Tourists; Birds Of War; Perfume Capital Of The World
First, when the volunteer helping after a hurricane is a white nationalist. Then, birders flock here since guerrillas disarmed. And, Grasse: The perfume capital of the world.
5/3: CBS Weekend News
Passengers deal with Spirit shutdown fallout; Trump's poll numbers tank as Iran war continues to jack up gas prices.
Cherie DeVaux reflects on historic derby win
Trainer Cherie DeVaux says she's still coming to grips with her horse Golden Tempo's longshot win in Saturday's Kentucky Derby. Jericka Duncan reports.
Replacing Minuteman III nuclear missiles
The United States is in the process of replacing the 60-year-old Minuteman III nuclear missile with the new Sentinel missile. Ian Lee reports, with an exclusive look at one of our nation's most secure and destructive weapons.
Fuel costs eating into firefighting budgets
Aircraft used to fight wildfires are getting more expensive as fuel prices rise. Carter Evans reports.