Global Tariffs

• A U.S. trade court declared President Trump's proposed 10% tariffs on global imports unlawful, marking a significant legal setback for his trade agenda. • The ruling, issued within the past 2 hours, stems from challenges by importers arguing the tariffs exceed presidential authority under existing trade laws. • This decision matters as it disrupts Trump's strategy to pressure trading partners like China and the EU amid escalating tensions over the Strait of Hormuz.

Trump also issues new deadline for EU to implement trade deal terms before raising tariffs to ‘much higher levels’The US trade court on Thursday ruled against Donald Trump’s latest 10% global tariffs, finding across-the-board tariffs were not justified under a 1970s trade law.The US Court of International Trade ruled in favor of small businesses that challenged the tariffs, which took effect on 24 February. The ruling was 2-1, with one judge saying it was premature to grant victory to the small business plaintiffs. Continue reading...