US Trade Court Blocks Trump's Tariffs

A US federal court has blocked President Donald Trump from imposing his import tariffs on other countries. The US Court of International Trade reportedly found that the law did not grant Trump “unbounded authority” to tax imports from nearly every nation around the world. Meanwhile, the US administration has appealed and questioned the court's authority.

"The court does not pass upon the wisdom or likely effectiveness of the President's use of tariffs as leverage," a three-judge panel said, as quoted by Reuters. "That use is impermissible not because it is unwise or ineffective, but because [federal law] does not allow it," the judges added.

The court, which hears disputes involving international trade and customs laws, has invalidated all of the US administration's tariff orders issued since January under the International Emergency Economic Powers Act (IEEPA). Trump's tariffs caused significant turbulence in global financial markets and prompted many economists to lower their forecasts for US economic growth.