US EditionUS court blocks most Trump tariffs, says president exceeded his authority
- On Wednesday, a federal trade court determined that President Trump's emergency tariff measures were beyond his legal authority and subsequently blocked most of the tariffs.
- The court found that the tariffs violated the 1977 International Emergency Economic Powers Act, which does not provide authority to impose such tariffs.
- The court sided with a coalition of 12 states and five companies that challenged the planned substantial tariff increases set for April 2, which included a proposed 50 percent tariff on imports from the European Union.
- Judges allowed the president to apply some tariffs for a limited time but ordered removal of the higher rates within 10 days, with most suspended until July.
- The ruling could disrupt U.S. Trade and manufacturing plans and is expected to be appealed, potentially reaching the Supreme Court amid ongoing White House trade negotiations.
455 Articles
455 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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