US Federal Court Blocks Trump's Reciprocal Tariffs, Citing 'Abuse of Power'
Trump Administration May Appeal
A U.S. federal court has issued a ruling to halt the reciprocal tariff measures declared by President Donald Trump on 'Liberation Day.'
According to Bloomberg News and the Associated Press on the 28th (local time), the U.S. Court of International Trade in New York issued a ruling blocking the reciprocal tariff measures announced by President Trump during the 'Liberation Day' event on the 2nd of last month.
The court determined that President Trump's blanket imposition of tariffs on countries that export more to the United States and import less from it exceeded his authority. The court stated, "The U.S. Constitution grants Congress the exclusive power to regulate commerce with foreign nations, and this authority takes precedence over the President's emergency powers."
The Trump administration can appeal this ruling to the federal court.
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
In addition to this lawsuit, a total of seven cases challenging President Trump's tariff policy are pending in court, filed by 13 state governments and several small and medium-sized business associations.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.