BREAKING: Federal Trade Court Strikes Down Trump Backup Tariff Plan
The Federal Trade Court on Thursday struck down President Trump’s backup tariff plan after the Supreme Court blocked his other tariffs.
The US Supreme Court recently struck down President Trump’s tariffs in a 6-3 decision.
The Supreme Court said President Trump does not have the authority to impose the tariffs under the International Emergency Economic Powers Act (IEEPA).
The high court’s decision only invalidated Trump’s tariffs under the IEEPA.
President Trump imposed a 10% global tariff as a backup plan.
Reuters reported:
The U.S. trade court on Thursday ruled against President Donald Trump’s latest 10% global tariffs, finding across-the-board tariffs were not justified under a 1970s trade law.
The U.S. Court of International Trade ruled in favor of small businesses that challenged the tariffs, which took effect on February 24. The ruling was 2-1, with one judge saying it was premature to grant victory to the small business plaintiffs.
BREAKING…
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