U.S. Court Halts Trump’s Emergency Tariffs, Challenging Presidential Tariff Authority

A recent ruling from the U.S. Court of International Trade has dealt a blow to President Trump’s trade policies by halting his emergency tariffs. The court found that these tariffs were not legally permissible under the International Economic Powers Act (IEEPA), marking a significant victory for congressional authority over presidential tariff-setting power. This decision, which challenges the president’s expansive approach to tariffs used to address trade deficits, could have far-reaching implications for financial markets as investors adjust their expectations and seek stability.