Professor John Yoo joins Bloomberg Intelligence litigation analyst Holly Froum on this episode of the Votes and Verdicts podcast to discuss May rulings by the US Court of International Trade and Washington, DC district court striking down so-called “fentanyl trafficking” and reciprocal tariffs. Professor Yoo, who served as law clerk for Supreme Court Justice Clarence Thomas and is a senior research fellow at the Civitas Institute, the Emanuel S. Heller Professor of Law at University of California, Berkeley, a distinguished visiting professor at the School of Civic Leadership at University of Texas at Austin and Nonresident Senior Fellow at the American Enterprise Institute, discusses the rulings, what he thinks the lower courts got wrong, arguments on appeal and why reciprocal tariffs could be vulnerable on appeal.

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Deregulation for the largest US banks, including Bank of America, Citigroup, Goldman Sachs and JPMorgan, are among the key 2H catalysts that BI litigation and policy analysts are watching. In this litigation and policy midyear outlook episode, the team also discusses key crypto legislation and why tech companies like Alphabet, Amazon.com, Apple and Meta will continue to face heightened antitrust enforcement. Other catalysts include an anticipated Supreme Court ruling likely holding US reciprocal tariffs unlawful. AI copyright cases may start going against LLMs. Nexstar and other US broadcasters could win a major victory, with the FCC expected to ease or eliminate media caps. BNP Paribas likely settles a Sudan genocide class-action and Swedbank likely incurs money-laundering penalties.

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The One Big Beautiful Bill is the key policy catalyst Bloomberg Intelligence analysts are watching this week. The bill likely hands wins to Apple, Disney, Alphabet and Boeing by locking in an offshore safe harbor and restoring foreign tax credits while shielding foreign entities from IRS scrutiny. REITs are also a big winner. First Solar, Nextracker, Array, Shoals and US solar peers are in line for a boost to domestic demand over the coming year as developers rush to break ground and qualify for tax credits. Medicaid cuts and an end to ACA subsidies will be a headwind for some insurers, provider-tax changes might not become a reality and orphan drugs likely benefit from IRA changes. State AI regulations survive for now but Congress shows it wants a light touch. Congress is restoring FCC power to hold auctions of wireless licenses.

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