Anonymous
5/29/2025, 11:43:58 AM No.1408574
US trade court says Donald Trump’s global tariffs are illegal
https://www.ft.com/content/bd6479b2-b7e5-42c2-ae17-779e57b02637
A US court has ruled that Donald Trump’s “liberation day” tariff scheme is illegal, in a blow to the White House that could throw the president’s global trade policy into disarray.
The US Court of International Trade found on Wednesday that Trump did not have the authority to use the emergency economic powers legislation that he cited when he imposed sweeping global tariffs last month.
The ruling by the panel of judges is a dramatic twist in the trade wars that Trump has launched since returning to the presidency, and comes as his administration is racing to cut trade deals after suspending the imposition of most of its higher tariffs.
While the Trump administration said it would launch an appeal, the ruling will embolden opponents of the tariffs in corporate America, foreign capitals and the US Congress.
The judgment affects levies imposed on April 2, including a baseline 10 per cent tariff and higher so-called reciprocal duties on many countries, but not sectoral tariffs that he has also imposed on steel and car imports.
S&P 500 futures were up 1.5 per cent on Thursday, while the dollar rose about 0.3 per cent against a basket of six currencies. The Euro Stoxx 50 in Europe was up 0.5 per cent and Japan’s exporter-heavy Nikkei 225 climbed 1.8 per cent.
The court made its ruling in response to two cases brought by small businesses and a group of US states. In the ruling, it said the executive orders in which Trump announced the tariffs “are declared to be invalid as contrary to law”.
https://www.ft.com/content/bd6479b2-b7e5-42c2-ae17-779e57b02637
A US court has ruled that Donald Trump’s “liberation day” tariff scheme is illegal, in a blow to the White House that could throw the president’s global trade policy into disarray.
The US Court of International Trade found on Wednesday that Trump did not have the authority to use the emergency economic powers legislation that he cited when he imposed sweeping global tariffs last month.
The ruling by the panel of judges is a dramatic twist in the trade wars that Trump has launched since returning to the presidency, and comes as his administration is racing to cut trade deals after suspending the imposition of most of its higher tariffs.
While the Trump administration said it would launch an appeal, the ruling will embolden opponents of the tariffs in corporate America, foreign capitals and the US Congress.
The judgment affects levies imposed on April 2, including a baseline 10 per cent tariff and higher so-called reciprocal duties on many countries, but not sectoral tariffs that he has also imposed on steel and car imports.
S&P 500 futures were up 1.5 per cent on Thursday, while the dollar rose about 0.3 per cent against a basket of six currencies. The Euro Stoxx 50 in Europe was up 0.5 per cent and Japan’s exporter-heavy Nikkei 225 climbed 1.8 per cent.
The court made its ruling in response to two cases brought by small businesses and a group of US states. In the ruling, it said the executive orders in which Trump announced the tariffs “are declared to be invalid as contrary to law”.
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