US Edition
Wall Street Journal: 'Smart Play' Would Have Been for Trump to Forgo, Pause New Tariffs
The Supreme Court ruled Trump exceeded tariff authority under IEEPA, but new tariffs up to 15% and other measures will keep trade tensions high, economists said.
- On Friday, the U.S. Supreme Court struck down President Donald Trump's tariffs in a 6-3 decision for lacking authority under the International Emergency Economic Powers Act, and the administration reimposed tariffs up to 15% using Section 122 of the Tariff Act, limited to 150 days.
- U.S. Trade Representative Jamieson Greer said the administration invoked Section 122 and will supplement it with Sections 232 and 301, as EU leaders warned this could upend trade deals reached last year, and on Monday the EU postponed a key vote.
- Citigroup economist Veronica Clark said new tariffs "imply little change" in inflation forecasts, while Mark Zandi warned `Businesses don't know` and may reduce investment and hiring.
- Economists warned the fallout threatens global trade relations and could hobble the U.S. economy, but some analysts urged caution against panicking despite growing complexity.
- Analysts warn perceptions of U.S. mismanagement could accelerate deglobalization, while Chinese customs data show exports rose 6.6% last December and imports grew fastest in three months.
69 Articles
69 Articles
New in City Journal: "Trump’s Tariff Loss Is the Worst Judicial Defeat in Presidential History"
Has any President ever lost such a significant case before the Supreme Court? I don't think so. That is the theme of my latest piece in City Journal, titled "Trump's Tariff Loss Is the Worst Judicial Defeat in Presidential History." Here is the introduction: How bad was President Trump's loss last week at the Supreme Court in the tariffs case? Really bad. How does this defeat compare with other losses suffered by presidents at the Court? There i…
Supreme Court ruling against Trump’s tariffs is unlikely to mean an end to trade policy chaos - The Boston Globe
Questions remain: How will the president use other laws to reconstruct the tariffs the Supreme Court knocked down, and will those attempts withstand legal challenges?
Despite a defeat before the Supreme Court, the US President continues to focus on tariffs in trade policy. A German entrepreneur reports what that means for him.
GOP in-fighting as tariff ruling leaves party divided: report
The Republican Party is in turmoil over the recent Supreme Court ruling on Donald Trump's use of tariffs, according to a report.The 6-3 ruling against the president means Congressional approval must be sought when increasing tariff percentages. This is a ruling Trump has hit back at, but it has left the GOP in disarray, with representatives airing their concerns over the economic situation, according to The Hill.Susan Collins (R-ME) said the Sup…
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