The International Trade Court in New York recently ruled that U.S. President Donald Trump's invocation of executive powers under the economic emergency on April 2 to impose sweeping tariffs on all U.S. trading partners was ultra vires. But White House economic adviser Kevin Hassett said he was confident of a victory in the administration's appeal over the case and that three trade deals were on the horizon. (Synopsis: Trump tariffs are judged illegal!) U.S. courts ordered a "ban on implementation" of the White House's urgent appeal, and Asian stock markets cheered in early trading) (Background supplement: Interest rate cuts pour cold water" Fed Kashkali: The inflationary impact of Trump's tariffs is not a short-term phenomenon, and the Fed does not rush to adjust interest rates) According to the Wall Street Journal, the International Trade Court in New York recently ruled that US President Trump invoked the executive power under the economic emergency on April 2 to impose comprehensive tariffs on all US trading partners, which is ultra vires. It can be said that this ruling invalidates almost all of Trump's tariffs and shakes the legal basis of his trade policy. Trump will not abandon tariff strategy Although the court ruling has hit Trump's tariff strategy hard, trade experts point out that the global trade war is far from ending easily. The ruling is a major setback for the Trump administration, but it is difficult to prevent Trump from continuing to adhere to global trade rules that favor the United States, or for Trump to simply abandon tariffs as a major tool. In this regard, Deborah Elms, head of trade policy at Singapore's Hinrich Foundation, said: This is just another bump on the road to tariffs during Trump's tenure. He is passionate about tariffs and likes to impose them as he pleases, and I don't think he will give up easily. At the same time, the U.S. government has announced that it will appeal the ruling, and experts and lawyers believe that Trump still has other legal avenues that are not affected by the ruling to promote the trade war, and the case may eventually go to the Supreme Court. It is also worth noting that the court ruling does not affect other tariffs on U.S. imports, including a 25% tariff on steel, aluminum and automobiles. These tariffs are implemented through other legal means, namely Section 232 and Section 301, and still give the president considerable authority to tax specific industries. White House Economic Adviser: Confident in the government's victory In addition, although the court ruled that Trump's tariff policy was invalid, according to Reuters yesterday (29), White House economic adviser Kevin Hassett said in an interview that this ruling is the work of radical judges, and he is confident that the government will win in the appeal. At the same time, Hassett also said that three trade deals are on the horizon and that more are expected to be finalized: Even small setbacks due to the ruling of the radical judge should not worry you, which will certainly not affect the negotiation process. Many, many agreements are on the horizon. Three of them appear to have been largely completed. Business executives are confused by the current situation because of the uncertain legal outlook. For example, Jeffy Ma, head of a hat merchant in Guangzhou, China, said that while the ruling was good news, it had not yet received a clear response from U.S. customers. "After all, the tariffs have not been completely eliminated," he said. William Su, chief executive of Teamson, which operates in Taiwan and New York, also noted that some large retailers are demanding increased shipments, but the ambiguity over the future of tariffs on Chinese goods could make retailers hesitant to approve new production. At the same time, some executives are cautious about the ruling, arguing that Trump may find other ways to reimpose high tariffs on China and other Asian economies with large trade surpluses with the United States, such as Vietnam, South Korea and Japan. For example, Michel Bertsch, head of a furniture manufacturer in Vietnam that exports to the United States, said: "I don't think it will change much, and American customers will still continue to move products out of China, because Trump's focus is clearly on China." This just adds more instability, and everyone is speculating about what Trump will do next. In addition, negotiations between the United States and trading partners such as the European Union, South Korea and Japan have been slow. Trade experts said the court's ruling complicates those talks, as countries may be reluctant to make concessions in trade talks for fear that the court will ultimately rule that Trump tariffs are on the wrong basis. Paul Nadeau, an associate professor of international affairs at Temple University in Japan, pointed out: "Knowing that the whole thing may be resolved by a single hammer, will you continue to negotiate?" Related reports Trump tariffs may delay Fed rate cut! Fed officials: If inflation improves, interest rates will fall sharply in the next 12-18 months Trump shouted "iPhone Made in the United States" otherwise impose a 25% tariff, Apple plummeted, bitcoin pin 100,0007 The United States and China cut tariffs "145% to 30%", analysts are optimistic that bitcoin rushed $140,000 (US court ruled that Trump tariffs are invalid, White House advisers: confident in the appeal, will finalize three trade agreements) This article was first published in the moving area BlockTempo The most influential blockchain news media.
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A U.S. court ruled that Trump's tariffs are invalid, White House advisor: confident in the appeal, will finalize three trade agreements.
The International Trade Court in New York recently ruled that U.S. President Donald Trump's invocation of executive powers under the economic emergency on April 2 to impose sweeping tariffs on all U.S. trading partners was ultra vires. But White House economic adviser Kevin Hassett said he was confident of a victory in the administration's appeal over the case and that three trade deals were on the horizon. (Synopsis: Trump tariffs are judged illegal!) U.S. courts ordered a "ban on implementation" of the White House's urgent appeal, and Asian stock markets cheered in early trading) (Background supplement: Interest rate cuts pour cold water" Fed Kashkali: The inflationary impact of Trump's tariffs is not a short-term phenomenon, and the Fed does not rush to adjust interest rates) According to the Wall Street Journal, the International Trade Court in New York recently ruled that US President Trump invoked the executive power under the economic emergency on April 2 to impose comprehensive tariffs on all US trading partners, which is ultra vires. It can be said that this ruling invalidates almost all of Trump's tariffs and shakes the legal basis of his trade policy. Trump will not abandon tariff strategy Although the court ruling has hit Trump's tariff strategy hard, trade experts point out that the global trade war is far from ending easily. The ruling is a major setback for the Trump administration, but it is difficult to prevent Trump from continuing to adhere to global trade rules that favor the United States, or for Trump to simply abandon tariffs as a major tool. In this regard, Deborah Elms, head of trade policy at Singapore's Hinrich Foundation, said: This is just another bump on the road to tariffs during Trump's tenure. He is passionate about tariffs and likes to impose them as he pleases, and I don't think he will give up easily. At the same time, the U.S. government has announced that it will appeal the ruling, and experts and lawyers believe that Trump still has other legal avenues that are not affected by the ruling to promote the trade war, and the case may eventually go to the Supreme Court. It is also worth noting that the court ruling does not affect other tariffs on U.S. imports, including a 25% tariff on steel, aluminum and automobiles. These tariffs are implemented through other legal means, namely Section 232 and Section 301, and still give the president considerable authority to tax specific industries. White House Economic Adviser: Confident in the government's victory In addition, although the court ruled that Trump's tariff policy was invalid, according to Reuters yesterday (29), White House economic adviser Kevin Hassett said in an interview that this ruling is the work of radical judges, and he is confident that the government will win in the appeal. At the same time, Hassett also said that three trade deals are on the horizon and that more are expected to be finalized: Even small setbacks due to the ruling of the radical judge should not worry you, which will certainly not affect the negotiation process. Many, many agreements are on the horizon. Three of them appear to have been largely completed. Business executives are confused by the current situation because of the uncertain legal outlook. For example, Jeffy Ma, head of a hat merchant in Guangzhou, China, said that while the ruling was good news, it had not yet received a clear response from U.S. customers. "After all, the tariffs have not been completely eliminated," he said. William Su, chief executive of Teamson, which operates in Taiwan and New York, also noted that some large retailers are demanding increased shipments, but the ambiguity over the future of tariffs on Chinese goods could make retailers hesitant to approve new production. At the same time, some executives are cautious about the ruling, arguing that Trump may find other ways to reimpose high tariffs on China and other Asian economies with large trade surpluses with the United States, such as Vietnam, South Korea and Japan. For example, Michel Bertsch, head of a furniture manufacturer in Vietnam that exports to the United States, said: "I don't think it will change much, and American customers will still continue to move products out of China, because Trump's focus is clearly on China." This just adds more instability, and everyone is speculating about what Trump will do next. In addition, negotiations between the United States and trading partners such as the European Union, South Korea and Japan have been slow. Trade experts said the court's ruling complicates those talks, as countries may be reluctant to make concessions in trade talks for fear that the court will ultimately rule that Trump tariffs are on the wrong basis. Paul Nadeau, an associate professor of international affairs at Temple University in Japan, pointed out: "Knowing that the whole thing may be resolved by a single hammer, will you continue to negotiate?" Related reports Trump tariffs may delay Fed rate cut! Fed officials: If inflation improves, interest rates will fall sharply in the next 12-18 months Trump shouted "iPhone Made in the United States" otherwise impose a 25% tariff, Apple plummeted, bitcoin pin 100,0007 The United States and China cut tariffs "145% to 30%", analysts are optimistic that bitcoin rushed $140,000 (US court ruled that Trump tariffs are invalid, White House advisers: confident in the appeal, will finalize three trade agreements) This article was first published in the moving area BlockTempo The most influential blockchain news media.