U.S COURT BLOCKS MAJORITY OF TRUMP'S TARIFFS!
A US federal court has blocked the majority of President Donald Trump's tariffs, citing that he exceeded his authority under the International Emergency Economic Powers Act (IEEPA). The court's decision affects several key tariffs, including :
Tariffs on China: A 30% tariff on Chinese goods has been halted
Tariffs on Mexico and Canada: A 25% tariff on certain imports from these countries has been blocked
Global Tariff: A 10% universal tariff on most goods entering the US has been put on hold
However, the court ruling does not impact tariffs on :
Autos and Auto Parts: A 25% tariff remains in place under Section 232 of the Trade Expansion Act
Steel and Aluminum: Tariffs on these materials are still active
The Trump administration has quickly appealed the decision, and the US Court of Appeals for the Federal Circuit has temporarily paused the injunction, allowing the tariffs to remain in place for now. The outcome of the appeal will determine the future of Trump's tariffs .#TrumpMediaBitcoinTreasury #MarketPullback
