US EditionUS court blocks most Trump tariffs, says president exceeded his authority
- A federal tribunal blocked the majority of President Trump's emergency tariffs on imports on Wednesday, effectively pausing his tariff strategy authorized under emergency powers.
- The court determined that Trump exceeded the powers granted under the International Emergency Economic Powers Act of 1977 by imposing tariffs, ruling against his use of emergency authority in this context.
- The ruling demands the administration rescind the tariffs within ten days but permits some tariffs imposed under a different trade statute to remain effective.
- The court ruled that the President's power under IEEPA does not extend to imposing tariffs through the Worldwide and Retaliatory Tariff Orders.
- The decision challenges the legal basis of Trump’s tariff strategy, prompting an appeal and creating uncertainty about the future use of tariffs in trade policy.
458 Articles
458 Articles
Despite Court Ruling, Trump Has More Tariff Levers to Pull, Says Goldman Sachs
A federal court ruling against President Donald Trump’s authority to impose sweeping tariffs might be only a temporary setback for the administration, say Goldman Sachs economists. The New York-based U.S. Court of International Trade ruled on May 28 that Trump exceeded his authority by tapping the International Emergency Economic Powers Act (IEEPA) to implement levies on other countries. The IEEPA is a federal law enacted in 1977 that permits th…
Trump Plans to Ask the Supreme Court This Friday to Keep Tariffs in Force
White House lawyers are working hard to save their business strategy after Wednesday’s ruling that overturned the bulk of their tariffs. On Wednesday, they asked the International Trade Tribunal to cautiously suspend the enforcement of their ruling. On Thursday, they have done the same before a Washington Federal Court of Appeals. And in their 124-page brief they anticipate that if those courts do not suspend the decision, they will come to the …
Despite Court Ruling, Trump Has More Tariff Levers to Pull, Says Goldman Sachs - The Thinking Conservative
Federal court ruling against President Trump’s authority to impose sweeping tariffs might be temporary for the admin, say Goldman Sachs economists. The post Despite Court Ruling, Trump Has More Tariff Levers to Pull, Says Goldman Sachs appeared first on The Thinking Conservative.
Trump has other ways to impose tariffs despite US court ruling, Wall Street analysts say
President Trump has several tools at his disposal that he can use to impose tariffs despite a court ruling that ordered the reversal of his hefty “Liberation Day” taxes, according to a note by Goldman Sachs analysts on Thursday.
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