Hi, Shrewd!        Login  
Shrewd'm.com 
A merry & shrewd investing community
Best Of Macro | Best Of | Favourites & Replies | All Boards | Post of the Week!
Search Macro
Shrewd'm.com Merry shrewd investors
Best Of Macro | Best Of | Favourites & Replies | All Boards | Post of the Week!
Search Macro


Personal Finance Topics / Macroeconomic Trends and Risks
Unthreaded | Threaded | Whole Thread (11) |
Author: OrmontUS 🐝  😊 😞
Number: of 1020 
Subject: When smacked with a hand, the game is a foot
Date: 05/28/2025 8:47 PM
Post New | Post Reply | Report Post | Recommend It!
No. of Recommendations: 2
https://edition.cnn.com/2025/05/28/business/us-cou...

A federal court on Wednesday ruled that President Donald Trump overstepped his authority to impose sweeping tariffs that have raised the cost of imports for everyone from giant businesses to everyday Americans.

A three-judge panel at the US Court of International Trade, a relatively low-profile court in Manhattan, stopped Trump’s global tariffs that he imposed citing emergency economic powers, including the “Liberation Day” tariffs he announced on April 2. It also prevents Trump from enforcing his tariffs placed earlier this year against China, Mexico and Canada, designed to combat fentanyl coming into the United States.

The order halts Trump’s 30% tariffs on China, his 25% tariffs on some goods imported from Mexico and Canada, and the 10% universal tariffs on most goods coming into the United States. It does not, however, affect the 25% tariffs on autos, auto parts, steel or aluminum, which were subject to Section 232 of the Trade Expansion Act – a different law than the one Trump cited for his broader trade actions.

White House spokesperson Kush Desai said in a statement that: “It is not for unelected judges to decide how to properly address a national emergency. President Trump pledged to put America First, and the Administration is committed to using every lever of executive power to address this crisis and restore American Greatness.”

White House deputy chief of staff for policy Stephen Miller was blunter, posting on X that “The judicial coup is out of control” in response to the news.

Jeff
Post New | Post Reply | Report Post | Recommend It!
Print the post
Unthreaded | Threaded | Whole Thread (11) |


Announcements
Macroeconomic Trends and Risks FAQ
Contact Shrewd'm
Contact the developer of these message boards.

Best Of Macro | Best Of | Favourites & Replies | All Boards | Followed Shrewds