Summary
A federal appellate court ruled that most of the tariffs imposed by former President Trump were not legally authorized under the International Emergency Economic Powers Act. The court's decision means that many of these tariffs may no longer be valid, but they are still in place as the decision can be appealed. Trump has promised to take the issue to the Supreme Court.
Key Facts
- A federal appellate court found Trump's global tariffs lacked legal backing.
- The tariffs were said to exceed the authority given under the International Emergency Economic Powers Act.
- The ruling did not determine if the President could impose tariffs in emergencies but said Trump's reasons did not count as emergencies.
- The court ruling is on hold until October 14 to allow for a possible Supreme Court appeal.
- Current tariffs remain, including those on Chinese goods and new tariffs on India, Canada, and Brazil.
- Trump's tariffs varied widely, ranging from 10% to 50%.
- The U.S. and China have agreed to reduce some tariffs temporarily.
- The White House claims the tariffs were a lawful response to foreign threats.
