Court's tariffs ruling offers US businesses a reprieve but they aren't ready to celebrate
Businesses that have been unsettled by President Donald Trump's on again, off again tariffs grappled Thursday with how much faith to put in the latest reprieve, which came from a federal court that halted most of the taxes on foreign imports. A three-judge panel of the U.S. Court of International Trade ruled late Wednesday that Trump overstepped his authority when he invoked the 1977 International Emergency Economic Powers Act to declare a national emergency as justification for his wide-ranging tariffs. The Trump administration has filed a notice of appeal and requested an emergency stay that would keep the tariffs in place during ongoing legal proceedings that are widely expected to reach the U.S. Supreme Court.
Associated Press Finance
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1 hour ago
