President Donald Trump’s recent drastic tariffs were suspended by a federal court that ruled earlier that day. However, later that day, the U.S. Court of Appeals temporarily suspended its decision, paving the way for tariffs to be reimposed.
The International Trade Court has determined that the tariffs declared by Trump under the “emergency law” for almost the world is inadequately based on the legal basis. The court halted tariffs, saying the White House could not create such a comprehensive trade policy within the legal framework.
The Trump administration immediately appealed the decision, saying the appeal court needed time to consider the appeal, and found that tariffs should be in effect during this period.
White House economic advisor Kevin Hassett welcomed the decision and told Fox Business:
Trump’s trade adviser Peter Navarro said that if tariffs cannot be maintained, they could be reimposed through other legal measures.
Tariffs are at the heart of Trump’s foreign trade policy, and the administration aims to bring major economic giants, such as the European Union, China, India and Japan, to the table for new deals.
*This is not investment advice.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
