The American Court for International Trade on Wednesday overturned Trump’s tariffs "Liberation Day," which sparked a positive reaction in global markets.
On Wednesday, the court in Manhattan ruled in favor of states led by the Democratic Party and a group of small businesses that argued Trump unlawfully invoked the emergency law to justify this part of his economic policy.
Global financial markets have experienced sharp fluctuations since Trump revealed extensive tariffs on April 2, with some measures later being eased or lifted amid ongoing negotiations between the White House and foreign governments.
Although Bitcoin remained mostly unchanged, Asian stock markets rose on Thursday morning, with the Japanese Nikkei 225 index gaining about 1.67% and the Australian ASX 200 index recording slight gains. Indian indices Nifty and Sensex also opened higher.
