⚖️ Axios PM: Trump wins big

Plus: Stocks hit record | Friday, June 27, 2025

View in browser   PRESENTED BY WHATSAPP   Axios PM By Mike Allen · Jun 27, 2025 Happy Friday afternoon! Today's newsletter, edited by Sam Baker, is 539 words, a 2-min. read. Thanks to Sheryl Miller for copy editing. 🎓 Breaking: University of Virginia President James Ryan has resigned under pressure from the Trump administration, Axios' Hans Nichols reports. Why it matters: Ryan, who was U.Va.'s ninth president in 120 years, resigned after the Justice Department became convinced he was negotiating in "bad faith" on ending the school's DEI policies. Go deeper ... Read his resignation letter.     1 big thing: Trump's Supreme victory   Illustration: Shoshana Gordon/Axios   The Supreme Court has handed President Trump a lot of victories. Today's may be one of the biggest, Axios court watcher Sam Baker writes. In a 6-3 ruling, the justices invalidated lower court rulings that had stopped Trump from proceeding with his plan to eliminate birthright citizenship in the U.S. 🐣 Zoom out: Trump's birthright-citizenship policy still may never see the light of day. This wasn't a ruling on whether that plan is legal, which is still a tough argument for the White House to win. And the Supreme Court provided some time and flexibility that could allow judges to temporarily block the policy in other ways. ⚖️ But a crackdown on "universal" injunctions — in which one judge can freeze a presidential policy altogether — is bigger than any one case, or even any one president, and will make it substantially easier for more of Trump's agenda to take effect. "It was a disaster where somebody from a certain location in a very liberal state, or a liberal judge, or a liberal group of judges, could tie up a whole country for years," Trump said at a press conference celebrating the ruling today. ✍️ The other side: "In essence, the Court has now shoved lower court judges out of the way in cases where executive action is challenged, and has gifted the Executive with the prerogative of sometimes disregarding the law," Justice Ketanji Brown Jackson wrote in her dissenting opinion. Read the ruling.     2. 🇨🇦 No more trade talks   President Trump takes questions during a news conference today. Photo: Andrew Caballero-Reynolds/AFP via Getty Images The U.S. will terminate trade discussions with Canada and assign a tariff rate on Canadian goods within the next week, President Trump said today. In a post on Truth Social, Trump said, "[W]e are hereby terminating ALL discussions on Trade with Canada, effective immediately." "We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period," Trump wrote. Go deeper.     A MESSAGE FROM WHATSAPP No one, not even WhatsApp, can see or hear your personal messages     On WhatsApp, personal messages stay between you and the people you choose. No one else can see or hear them. The impact: End-to-end encryption gives users the confidence that their personal messages stay private — even from WhatsApp. Learn more.     3. Catch me up   Data: Financial Modeling Prep; Chart: Axios Visuals 📈 The S&P 500 closed at a new all-time high — a major rebound after earlier rounds of President Trump's tariff threats caused massive sell-offs. Go deeper. 🪪 The Supreme Court upheld a Texas law that requires people to upload a photo of their driver's license to view porn websites. Roughly 20 states have adopted similar age-verification laws. Go deeper. 📺 California Gov. Gavin Newsom sued Fox News for $787 million, accusing the outlet of defamation in its reporting on a phone call between him and President Trump. Fox called the suit a "transparent publicity stunt." Go deeper.     4. 📸 1,000 words   Photo: Kayla Bartkowski/Getty Images Incoming freshmen (plebes) marched to their Oath of Office ceremony yesterday during Induction Day at the Naval Academy in Annapolis, Maryland. Induction Day involves processing, medical exams, uniform fittings, haircuts and learning to salute.     A MESSAGE FROM WHATSAPP No one, not even WhatsApp, can see or hear your personal messages     On WhatsApp, personal messages stay between you and the people you choose. No one else can see or hear them. The impact: End-to-end encryption gives users the confidence that their personal messages stay private — even from WhatsApp. Learn more.   📬 Thanks for reading! Please invite your friends to join PM. Are you a fan of this email format? 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