Obama Judge’s Dissent Could Help Trump Secure Tariff Victory at Supreme Court

Welcome back!

Here’s your must-read news this morning:

• Obama judge boosts Trump's tariff case

• Rise of AI influencers

• Apple vs GOP Fundraising

I’ve got all the details for you, so let’s dive in.

— Josh

MARKETS

💰 Obama-Appointed Judge’s Dissent Sparks Hope for Trump’s Tariff Triumph at Supreme Court

The Scoop: The U.S. Court of Appeals for the Federal Circuit ruled 7-4 against President Donald Trump’s global tariffs—but in a surprising twist—a dissent from an Obama-appointed judge fuels optimism for a Supreme Court victory, according to the Wall Street Journal.

The Details:

• The Federal Circuit’s 7-4 decision found Trump’s tariffs, including a 10% baseline on most imports and higher rates on countries like China, Canada, and Mexico, exceed IEEPA’s authority, which does not explicitly grant tariff powers.

• Small businesses, trade associations, and some conservative groups challenged the tariffs, citing the “major questions doctrine,” which limits executive overreach on significant policies without clear congressional intent.

• The Supreme Court granted Trump’s emergency requests in over 20 cases, often without explanation.

• Obama-appointed Judge Richard Taranto’s dissent, joined by three others, argued IEEPA’s broad language allows tariffs as a regulatory tool, providing a potential roadmap for a favorable Supreme Court ruling.

What’s Next: The Trump administration is expected to appeal to the Supreme Court by mid-October, with oral arguments likely in winter or early spring 2026. If the Court upholds the lower court’s decision, Trump may pivot to alternative trade authorities like Section 232 or Section 301 of the Trade Act.

Markets Roundup

🏦 Economy & Policy

• ⭐ Editor’s Pick: At the SCO summit in Tianjin, Xi lashed out at what he claimed was Western "bullying," hinting that Putin, Modi, other leaders should counter U.S. global influence. (TG)

• U.S. consumer spending rose a robust 0.5% in July, supported by strong wage growth. (RTS)

• FHFA Director Bill Pulte issued a second criminal referral against Federal Reserve Governor Lisa Cook, alleging new evidence of false representations involving a third property. (HW)

• Trump warned that a federal court ruling striking down his tariffs, could cancel $15 trillion in U.S. investment and render the nation a "third-world" economy. (FBN)

💵 Energy & Commodities

• ⭐ Editor’s Pick: Environmental groups backed by a network of dark money tied to Obama-era Democrats and foreign interests are intensifying opposition to Trump’s nuclear energy initiatives. (FOX)

• U.S. crude oil production hit a record 13.3 million barrels per day in 2024, according to the EIA. (OP)

• Gold prices surged to a four-month high of $3,480.56 per ounce, driven by expectations of a Federal Reserve rate cut and heightened safe-haven demand. (INV)

• The mining sector is undergoing a "quiet revolution" as companies leverage digital twins, automation, and AI to boost efficiency. (MIN)

🌕 Crypto

• ⭐ Editor’s Pick: The Trump administration is exploring a postwar Gaza plan that would use blockchain-based tokenized land and digital tokens to facilitate the relocation and rehousing of Palestinians. (CT)

• World Liberty Financial's WLFI token derivatives surged over 400% in 24-hour trading volume, signaling intense market anticipation for its first token unlock on Monday. (TB)

• The Senate is set to consider a crypto market structure bill by late September, with the Senate Banking Committee eyeing a September 30 markup. (BW)

• Pudgy Penguins, in collaboration with Mythical Games, launched Pudgy Party, a Web3 mobile game on iOS and Android. (DC)

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TECH

💻 AI Influencers Disrupt $250 Billion Creator Economy

The Scoop: The $250 billion creator economy is experiencing a seismic shift as AI-generated influencers flood social media platforms, challenging the very nature of authenticity and human connection online, the Financial Times reports.

The Details:

• Nearly 60% of marketing professionals have used AI influencers in campaigns, with 15.5% planning to adopt them, attracted by full control over avatar behavior and messaging.

• AI-generated actors cost $15 versus $350 for real creators, while human influencers still command higher engagement (2.7x more) and earnings ($78,777 vs $1,694 per sponsored post).

• Meta and other Silicon Valley giants are actively promoting AI content creation, with Meta's AI studio allowing creators to "build AI extensions of themselves" using past post data.

• Major companies like H&M are deploying "digital twins" and Hugo Boss partners with virtual influencers like pink-haired Imma, while new platforms like Fameflow AI license celebrity avatars for marketing.

What’s Next: Technically skilled "AI artists" may build media empires that outmaneuver studios, while human creators evolve into premium "tastemakers" as AI handles bulk production. The industry faces a critical inflection point between efficiency and authenticity that will reshape digital marketing forever.

Tech Roundup

🧠 AI

• ⭐ Editor’s Pick: The convergence of AI-driven diagnostics and prevenotics is poised to revolutionize cancer care, potentially eradicating the disease through early detection and personalized treatments. (TNG)

• Meta’s $14.3 billion investment in Scale AI is showing signs of strain, as the company turns to competitors like Mercor and Surge for AI data labeling. (TC)

• The New Yorker explores how AI-driven personalized entertainment could unlock novel forms of artistic expression. (NYKR)

• AI-enabled stethoscopes may soon flag major heart conditions in seconds, according to researchers. (BBG)

🤖 Hardware & Robotics

• ⭐ Editor’s Pick: China’s government unveiled a policy to fast-track brain-computer interface development, aiming to rival U.S. firms like Neuralink. (WM)

• Hotels are turning to humanoid robots to cut costs, personalize service, and sharpen their competitive edge. (HN)

• “Chewie,” a AI-enabled kitchen robot, turns wet household waste into nutrient-rich soil within hours. (NDTV)

• At the 2025 SCO Summit in China, a multilingual humanoid was deployed at the media center to guide journalists and delegates with "culturally neutral" support. (IT)

🚀 Defense & Space

• ⭐ Editor’s Pick: Trump is reportedly negotiating with European allies to deploy U.S. private military companies, rather than regular troops, to secure a Ukraine peace deal. (TEL)

• U.S. Army paratroopers are doubling down on drone warfare, testing first-person-view strike drones, counter-UAS systems and pilotless intercepts. (BI)

• Saab unveiled Nimbrix, a low-cost, fire-and-forget anti-drone missile equipped with an infrared seeker designed to defeat swarming unmanned aerial systems. (DN)

• The U.S. Space Force is moving to embed AI in daily operations, testing applications from anomaly detection to chat assistants under its 2025 strategy. (SN)

FREEDOM

 📱 Fundraisers Warn Apple’s Texting Update Could Hurt GOP Most Before Midterms

The Scoop: Apple’s upcoming iOS 26 update, arriving in September, includes a new text filtering system that could send Republican fundraising and voter outreach texts to a hidden “Unknown Senders” folder, worrying some conservatives about reaching their supporters, Fox News reports.

The Details:

• The iOS 26 “Screen Unknown Senders” feature moves texts from numbers not saved in a person’s phone to a separate folder without notifications, which could block Republican campaign texts and cost them over $25 million in donations, according to the National Republican Senate Committee.

• Launchpad Strategies, the team that raised $509 million for Trump’s 2024 win, is asking supporters to save campaign phone numbers or reply to texts to ensure messages go to the main inbox.

• Messages like “From Trump: Save my number!” or “Reply with what you’d tell me in 5 minutes!” encourage people to interact, helping texts avoid the filter.

What’s Next: With the 2026 midterms on the horizon, GOP strategists are turning Apple’s text filter into a launchpad for innovation, crafting engaging campaigns that connect directly with voters.

Freedom Roundup

🏛️ Policy & Culture

• ⭐ Editor’s Pick: Trump canceled $4.9 billion in congressionally approved foreign aid through a "pocket rescission." (RTS)

• The Trump administration canceled $679 million in federal funding for 12 offshore wind projects across 11 states. (RTS)

• The Australian Senate has ordered the release of eSafety Commissioner Julie Inman Grant’s communications, intensifying scrutiny over her coordination with a foreign group to censor online speech. (RTN)

• Cracker Barrel CEO Julie Felss Masino evaded FOX Business questions outside a Nashville Starbucks after the restaurant chain backtracked on its controversial text-only logo rebrand. (FBN)

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DISCLAIMER: The CAPITAL newsletter is for informational purposes only and does not constitute financial, investment, or professional advice. Readers should conduct their own research and consult a qualified financial advisor before making investment decisions. The CAPITAL newsletter and its owner and operator, Josh Caplan, are not liable for any loss or damage resulting from reliance on this information. The CAPITAL newsletter is solely owned and independently operated by Josh Caplan, separate from any employer affiliations.