🚨 Big news for global trade nerds: The U.S. Court of Appeals for the Federal Circuit just declared most of former President Trump’s tariffs illegal! ⚖️ Here’s the lowdown on what went down and why it matters for you…
In a nutshell, the court backed an earlier decision saying Trump misused the International Emergency Economic Powers Act (IEEPA) to slap on those levies. That includes the 'reciprocal' tariffs from April and the set targeting China, Canada and Mexico from February.
However, don’t toss out your calculators yet: the levies will stick around until October 14. That gives the administration time to ask the U.S. Supreme Court to weigh in. 📆
Why you should care? If you’re in South Asia or Southeast Asia, these U.S. tariffs can ripple across the global supply chain. Expect potential tweaks in tech gadget prices, electronics imports and even clothing costs here at home—from Bangkok to Bengaluru. 📱👟
Proponents argue overturning the tariffs protects businesses and consumers from uncertainty. Opponents warn it could weaken the U.S.’s bargaining power in future trade deals. Either way, we’re in for an interesting appeal. 🎢
Stay tuned as we track how this decision evolves and what it means for markets from Mumbai to Manila—and beyond. 🌏✨
Reference(s):
cgtn.com
