📌 A U.S. commercial court ruled against most of the tariffs imposed since January under a specific emergency law, deeming it beyond its authority. The court confirmed that Congress has the exclusive power to regulate trade with other countries.
📌 A panel of three judges in the U.S. International Trade Court blocked the global tariffs imposed by Trump, which were enacted citing emergency economic powers.
📌 The federal court ruling issued yesterday against President Donald Trump's authority to impose comprehensive tariffs dealt a severe blow to his entire economic agenda.
📌 The historic tariffs, as described by the U.S. administration many times, are just one leg of a three-legged stool, with the other legs being spending cuts and tax reductions.
📌 The challenged trade measures include: reciprocal tariffs imposed on 'Liberation Day', comprehensive tariffs at a rate of 10%, and tariffs targeting countries accused of smuggling fentanyl into the United States.
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