๐บ๐ธ *BREAKING: U.S. Appeals Court Allows Trump-Era Tariffs to Remain in Effect*
A federal appeals court has issued a stay on a previous ruling that invalidated most of former President Trump's tariffs. This decision permits the continuation of tariffs, including a 10% global baseline and additional levies targeting countries like China, Canada, and Mexico, while the legal battle proceeds. The court has scheduled oral arguments for July 31, 2025.
President Trump praised the ruling, describing it as a "great and important win for the U.S." He emphasized that the tariffs are essential for addressing trade imbalances and deterring illegal activities such as drug trafficking.
This development coincides with a new trade agreement between the U.S. and China, wherein the U.S. will impose a 55% tariff on Chinese goods, and China will levy a 10% import tax on American products. The deal also includes China's commitment to resume shipments of rare-earth minerals vital to U.S. industries.
Market reactions have been mixed, with major indices experiencing slight declines:
- *S&P 500 (SPY):* 601.22 (-0.31
- *Nasdaq-100 (QQQ):*532.15 (-0.39%)
- *Dow Jones Industrial Average (DIA):* $429.39 (-0.05%)
Investors are closely monitoring the situation, as the continuation of these tariffs could have significant implications for international trade and economic relations.
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