In a bold move that could change the global trade scene, a U.S. federal court has halted President Donald Trump's "Liberation Day" tariffs. The Manhattan-based Court of International Trade ruled that by imposing across-the-board duties on imports from nations selling more to the U.S. than they buy, the president overstepped his authority. ⚖️
The decision rests on the U.S. Constitution, which grants Congress the exclusive power to regulate commerce with other countries. The lawsuit, filed by the nonpartisan Liberty Justice Center on behalf of five small U.S. businesses—including a New York wine and spirits importer and a Virginia maker of educational kits and musical instruments—warns that these tariffs could seriously hurt their operations. 💼
This case is one of seven legal challenges, along with efforts from 13 U.S. states and various small business groups, questioning the tariff policies. The ruling is a reminder that even eye-catching trade initiatives need to stick to constitutional limits. Stay tuned as this decision might signal shifts in how trade policies are crafted and enforced across the board! 🤔
Reference(s):
cgtn.com
