US trade court rules against Trump’s 10% global tariffs
Summary
A U.S. trade court ruled against President Donald Trump’s 10% global tariffs, saying the law he used did not justify broad tariffs on imports. The court’s decision supported small businesses that challenged the tariffs, which started in February 2024.Key Facts
- The U.S. Court of International Trade ruled 2-1 against Trump's global 10% tariffs.
- The tariffs were imposed starting February 24, 2024.
- Small businesses argued the tariffs tried to bypass a previous Supreme Court ruling that blocked Trump’s 2025 tariffs.
- Trump used Section 122 of the Trade Act of 1974 to justify these tariffs, which allows short-term duties to fix serious trade issues.
- The court said the law was not meant for the type of trade deficits cited by Trump.
- On the same day as the ruling, Trump gave the European Union a July 4 deadline to meet trade deal promises or face higher tariffs on EU goods, including cars.
- Trump increased tariffs on EU vehicles from 15% to 25% because the EU delayed passing the trade deal through its parliament.
- Trump and the EU’s Ursula von der Leyen agreed that Iran should never have a nuclear weapon during a recent phone call.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.