In addition to saying Trump overstepped his authority, they said ALL the Tariffs are VOID, including the 10% baseline tariff, and also ordered the tariffs already collected to be refunded.
The FUTURES MARKET has just skyrocketed.
I'm not sure if the tariffs, which are agreed to in new treaties, are affected by this. The UK already signed a new treaty, as have a few other nations. Are they also voided?
Full stories are located at both of the links below:
Another view of the same topic:
www.zerohedge.com
The FUTURES MARKET has just skyrocketed.
I'm not sure if the tariffs, which are agreed to in new treaties, are affected by this. The UK already signed a new treaty, as have a few other nations. Are they also voided?
Full stories are located at both of the links below:
US court blocks Trump from imposing the bulk of his tariffs
New York CNN — normal
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.
But the administration immediately appealed the decision on Wednesday night, leaving the situation uncertain for consumers and companies and potentially prolonging the battle over whether Trump’s import duties will stand – and possibly reshape the global economy.
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 court ruled in favor of a permanent injunction, potentially grinding Trump’s global tariffs to a halt before “deals” with most other trading partners have even been reached. The court ordered a window of 10 calendar days for administrative orders “to effectuate the permanent injunction.” That means the bulk – but not all – of Trump’s tariffs would be put in a standstill if the ruling holds up in appeal and, potentially, with the Supreme Court.
Another view of the same topic:
Futures Soar After Trade Court Blocks Trump's Global Tariffs; White House To Appeal | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
Futures Soar After Trade Court Blocks Trump's Global Tariffs; White House To Appeal
The heretofore unkown US Court Of International Trade just ruled President Trump does not have the authority under economic emergency legislation to impose sweeping global tariffs.
"The challenged Tariff Orders will be vacated and their operation permanently enjoined," the court said, and also ordered that the tariffs which the Trump administration has already collected must be “vacated” meaning that tens of billions in tariffs and excise taxes, and which have already been spent to fund Congressional grift and corruption, now have to - somehow - be refunded! You can't make this up, but a some liberal judges in some court nobody has ever heard of, just did.
The ruling from a three-judge panel came after several lawsuits arguing Trump has exceeded his authority, left U.S. trade policy dependent on his whims and unleashed economic chaos.
In its decision, the court, which is based in Manhattan and comprised of a panel of three judges, sided with Democratic-led states and a coalition of small businesses that had sued the Trump administration.
At least seven lawsuits are challenging the tariffs, the centerpiece of Trump’s trade policy.
The decision marks one of the biggest setbacks for Trump by unelected activist judges amid a wave of lawsuits over executive orders in which he is testing the limits of presidential power. Others are challenging Trump’s mass firings of federal workers, restrictions on birthright citizenship and efforts to slash federal spending already approved by Congress.
The ruling can now be appealed by the Trump administration in federal court.. . .
