US EditionUS court blocks most Trump tariffs, says president exceeded his authority
- On Wednesday, a federal trade court located in New York ruled that President Trump's emergency tariffs exceeded his legal powers, blocking the majority of the levies.
- The court ruled that the 1977 act governing emergency economic powers does not grant the president the authority to unilaterally impose broad tariffs without the consent of Congress.
- The tariffs targeted trade deficits and included duties on China, Canada, and Mexico, but most higher rates proposed in April are on hold until July.
- Judges ordered the White House to halt the tariffs within a 10-day timeframe, but the Trump administration has appealed the decision and may seek alternative legal or legislative methods to continue enforcing tariffs.
- The ruling represents a significant setback for Trump’s trade strategy and could lead to further legal challenges, potentially reaching the Supreme Court.
480 Articles
480 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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