Economy Most Trump tariffs are not legal, US appeals court rules

[HOLA]

Most Trump tariffs are not legal, US appeals court rules

The court allowed the tariffs to remain in place through October 14.

www.reuters.com

NEW YORK, Aug 29 (Reuters) - A U.S. appeals court ruled on Friday that most of Donald Trump's tariffs are illegal, undercutting the Republican president's use of the levies as a key international economic policy tool.

Trump has made tariffs a pillar of U.S. foreign policy in his second term, using them to exert political pressure and renegotiate trade deals with countries that export goods to the United States.

The tariffs have given the Trump administration leverage to extract economic concessions from trading partners but have also increased volatility in financial markets.

"The statute bestows significant authority on the President to undertake a number of actions in response to a declared national emergency, but none of these actions explicitly include the power to impose tariffs, duties, or the like, or the power to tax," the court said.

The decision from the U.S. Court of Appeals for the Federal Circuit in Washington, D.C., addressed the legality of what Trump calls "reciprocal" tariffs imposed as part of his trade war in April, as well as a separate set of tariffs imposed in February against China, Canada and Mexico.

The court's decision does not impact tariffs issued under other legal authority, such as Trump's tariffs on steel and aluminum imports. The case is widely is expected to be appealed to the U.S. Supreme Court.

 

[Darkballs]

Probably the biggest story of the day and huge implications for this administration.

Which is why it won't get anywhere near the traction as the 17 different trans threads we've got going.

 

[PBAC]

I know we all know they know but we know they know they won't do anything

 

[Osculater]

Daddy Trump doesn't do anything wrong or illegal ever!

 

[rearnakedchoke]

Smart people don’t like me - Trump

 

[LeonardoBjj]

Probably the biggest story of the day and huge implications for this administration.

Which is why it won't get anywhere near the traction as the 17 different trans threads we've got going.

- He loves the 80's so much that he is bring back the dead economy freom that time.

 

[luckyshot]

Doesn't matter. John Roberts has gone full Reek.

 

[Loiosh]

Republicans everywhere are breathing a sigh of relief.

Pretty sure everyone hates the tariffs, this way they go away long before the midterms and nobody has to do anything to piss off Trump.

Trump gets to claim it was always a great plan and everyone would have seen, but they stopped him.

Probably too late to stop Farmaggedon, though. Wonder if another huge bailout is coming.

This all assumes Trump actually listens to the courts.

 

[Rational Poster]

Republicans everywhere are breathing a sigh of relief.

Pretty sure everyone hates the tariffs, this way they go away long before the midterms and nobody has to do anything to piss off Trump.

Trump gets to claim it was always a great plan and everyone would have seen, but they stopped him.

Probably too late to stop Farmaggedon, though. Wonder if another huge bailout is coming.

This all assumes Trump actually listens to the courts.

Chinese purchased $0 in soybeans last quarter. Previously it was about $3B.

A total policy failure by a lot.

Imagine if he was judged like he would be in the business world since he claims to be such a great businessman.

 

[Loiosh]

Chinese purchased $0 in soybeans last quarter. Previously it was about $3B.

A total policy failure by a lot.

They moved all that business to Brazil.

Even if it comes back, it will be too late.

And if it does come back it will because China cut a deal with the conglomerates who bought all the land from the bankrupt farmers.

 

[Revolver]

They moved all that business to Brazil.

Even if it comes back, it will be too late.

And if it does come back it will because China cut a deal with the conglomerates who bought all the land from the bankrupt farmers.

They’ll get bailed out and then vote for another conservative because of muh socialism.