US EditionChina Urges US to Cancel Unilateral Tariffs After Supreme Court Ruling
The Supreme Court invalidated Trump's tariffs under IEEPA; administration imposed a 15% tariff under the Trade Act, affecting $180 billion in imports, analysts said.
- On Monday, China urged the United States to cancel unilateral tariffs announced by President Donald Trump, with China's commerce ministry conducting a comprehensive assessment and calling on Washington to lift the tariffs.
- Six to three, the court limited the president's tariff authority, ruling Trump wrongly invoked IEEPA to implement broad tariffs on Friday.
- Trump responded over the weekend by imposing and then increasing global duties, first a 10% tariff under Section 122 of the Trade Act of 1974, then raising it to 15%, effective immediately.
- Ahead of a summit with Xi, analysts say the ruling boosts China's leverage as Beijing could press Washington to ease export controls and sanctions while the United States plans trade investigations to maintain tariffs.
- Goldman Sachs noted a roughly 5% net tariff reduction, and Global Trade Alert named China among top winners under Section 122, with Dan Wang saying `It limits Trump's ability to deploy tariffs at will, reduces pressure on Beijing to expand soybean purchases or ease rare earth access, and gives China leverage to push for the removal of the remaining 10% tariffs linked to fentanyl.
75 Articles
75 Articles
Farmers cheered Supreme Court’s Trump ruling — but didn't see this coming
By announcing new tariffs under section 122 of the 1974 Trade Act, President Donald Trump is hoping to defy the Supreme Court — and in the process, farmers’ advocates claim, hurting American agriculture.By increasing the broad tariff rate to 15 percent, important American trading partners like China are shifting their agricultural purchases to other countries, significantly limiting their markets even as Trump’s other tariffs increase their pric…
Goldman Sachs says U.S. consumers are stuck with higher prices even after Supreme Court ruling opens door to $180 billion in tariff refunds
The Supreme Court’s decision striking down President Donald Trump’s tariffs has created a $180 billion opportunity for U.S. companies to recoup the cost of import taxes through potential refunds. For American consumers, however, the chances of seeing relief are slim. Goldman Sachs economists warned that while tariff-related inflation has likely peaked, prices are unlikely to meaningfully fall anytime soon. Tariffs added a 0.7% increase in inflat…
The biggest loser from Trump’s new tariffs could be Britain
After boasting for months about its preferential trade deal with US President Donald Trump, the UK is at risk of becoming the biggest loser in the aftermath of the Supreme Court’s decision to strike down his global tariffs.
There the unpredictable USA, here the reliable China: Thus the government in Beijing has been staged for a long time. Of all things, the Supreme Court's ruling against Trump's tariffs strengthens this narrative.
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