President Donald Trump’s first 100 days in office have brought major tariff, tax and regulatory actions that have roiled global markets and diplomacy. Bloomberg Intelligence analysts hosted a webinar on May 1 to discuss how these evolving policies will shape sectors, markets and companies — from banks like Bank of America and Citigroup, retailers like Walmart and Kroger as well as technology providers Apple and Google — through the remainder of 2025.

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Updates and our outlook on the various lawsuits challenging the Trump administration’s tariffs, with ramifications for retailers like Nike, automakers like Volkswagen and numerous other sectors, are among key catalysts that BI litigation and policy analysts are watching this week. The team also discussed various antitrust matters, including the ongoing FTC v. Meta trial, proceedings over remedies in the DOJ’s case against Google over search, and the recent court ruling for DOJ against Google concerning its ad tech. Congress returns next week and Republicans will pick up their efforts to pass a reconciliation bill to extend the 2017 Tax Cuts and Jobs Act. The European Commission’s light-touch fines issued on April 23 against Apple (€500 million) and Meta (€200 million) — for noncompliance with the Digital Markets Act (DMA) — suggest an easing of European regulatory pressure on US tech giants, though pending DMA probes into Alphabet and Apple still pose a risk.

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A preview of the upcoming trial in which the FTC is challenging Meta’s acquisitions of Instagram and WhatsApp as anticompetitive, as well as a preview of a remedy hearing in the DOJ vs. Google search, were among the key catalysts that BI litigation and policy analysts are watching this week. Though divestitures are at risk in the FTC case, we think Meta has the better of arguments heading into trial. We also discussed how the Senate Commerce Committee took action on two of President Donald Trump’s nominees for the National Telecommunications and Information Administration and the Federal Communications Commission. Finally, we discussed how House Republicans delivered a key win for the Trump administration in advancing a budget resolution that we believe will eventually end with extending the 2017 Tax Cuts and Jobs Act.

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The Trump administration’s tariffs are among key topics that BI litigation and policy analysts are following this week, including among others reciprocal tariffs, tariffs on steel and aluminum and tariffs on Canada, China and Mexico. Ted Murphy, partner at the global law firm, Sidley Austin, and co-leader of Sidley’s Global Arbitration, Trade and Advocacy practice joins Bloomberg Intelligence litigation analyst Holly Froum to talk about President Donald Trump’s evolving trade policy, how it differs from his first term, potential legal challenges to the tariffs, and how companies can navigate this ever-changing landscape.

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The Trump administration’s tariffs and negotiations over acquiring TikTok are among key catalysts that BI litigation and policy analysts are watching this week. The team discussed what happens next with respect to the “Liberation Day” tariffs President Donald Trump announced on April 2 and the impacts it could have on companies like Nike, Levis, and Stellantis. The team also analyzed the legal issues surrounding the use of the International Economic Emergency Powers Act (IEEPA) to justify the tariffs. We closed with an update on TikTok and the April 5 deadline for its sale or ban in the US.

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Updates on hearings to confirm Paul Atkins as SEC chair and what it means for companies like Coinbase, Robinhood, CBOE, Nasdaq and Virtu are among key catalysts that BI litigation and policy analysts are watching this week. The team also discussed the legality of auto tariffs announced by President Donald Trump on March 26 and reciprocal tariffs expected on April 2. The firing of FTC commissioners Alvaro Bedoya and Rebecca Kelly Slaughter is unlikely to materially affect the outcome of cases against Meta, Amazon.com, UnitedHealth, Cigna, CVS and other companies, but lawsuits challenging their termination could provide insights into Trump’s ability to fire Fed Chair Jerome Powell. A US Supreme Court March 26 hearing signaled the high court will probably reject a constitutional challenge to the FCC’s $8 billion universal-service subsidy program, from which AT&T, Charter and Verizon have received funds.

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US TV and radio broadcasters like Nexstar, Sinclair and Tegna face fierce competition from internet-delivered platforms, yet only the broadcasters are limited by strict FCC ownership rules. With Republicans now controlling the FCC, Congress and the White House — and with a business-friendly court overseeing broadcasters’ litigation against the FCC — the broadcasters have their best chance in decades to ease the FCC rules, potentially creating opportunities to pursue deals that unlock economies of scale. In this Votes and Verdicts Brief, Bloomberg Intelligence analysts Matthew Schettenhelm and Jennifer Rie tackle the legal path ahead on this important issue.

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There are over three dozen US lawsuits between rights holders and developers of large language models, with the main point of contention being whether it was permissible “fair use” to train LLMs with copyrighted content. Newspaper organizations, authors, music publishers and visual artists have filed suits against OpenAI, Microsoft, Meta, Google and Anthropic, among other leading developers. Damages could run into the hundreds of billions of dollars, with the potential for milestone decisions this year. In this episode of Votes and Verdicts, Frankfurt Kurnit Klein & Selz partner Jeremy S. Goldman joins Bloomberg Intelligence analyst Tamlin Bason to discuss AI copyright issues and analyze how a recent rejection of fair use in an LLM dispute may influence pending cases.

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