Court Ruling Puts a Dent in Trump's Global Tariff Ambitions
The U.S. trade court ruled against President Trump's extensive tariffs, suggesting an overstep of authority. The administration plans to appeal, believing the decision will be reversed. Trump's tariffs, central to his negotiations, face legal challenges, raising uncertainty in global markets and among trading partners.
A U.S. trade court has ruled that President Donald Trump overstepped his authority in imposing wide-ranging tariffs on global trading partners. Senior officials in the Trump administration expressed confidence that the decision will be overturned on appeal, with alternative legal avenues available in the meantime.
White House economic adviser Kevin Hassett reassured that the ruling would not hinder new trade deal negotiations. Meanwhile, Trade Adviser Peter Navarro suggested employing different legal frameworks should the appeal fail. The decision has prompted mixed reactions in global markets and among international leaders.
Prime Minister Mark Carney of Canada supported the court's decision while other global partners reacted cautiously. Despite the ruling, analysts and economists believe Trump could still find methods to uphold tariff levels, impacting industries and global economic stability.
(With inputs from agencies.)
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