Trump's Tariff Turmoil: A Trade War Twist

In a significant development, senior Trump administration officials expressed confidence on Thursday that a U.S. trade court's decision to block President Donald Trump's extensive tariffs would be overturned. The administration is exploring other legal avenues, emphasizing their resolve in the trade war scenario, which has roiled financial markets.

The U.S. Court of International Trade ruled that Trump exceeded his authority in imposing widespread tariffs, a move central to Trump's trade strategy with major countries. The ruling prompted an immediate appeal, maintaining the contentious tariff regime while negotiations continue, with officials asserting alternative legal measures may sustain tariffs.

Market reactions have been mixed, with modest gains observed after the initial ruling. Analysts highlight the availability of other legal paths to uphold tariffs. International responses remain varied, with countries like Canada welcoming the decision, whereas others await further legal proceedings before commenting.

(With inputs from agencies.)