Breaking News: A U.S. court struck down a huge part of Trump’s tariff plans

[Thiel]

A U.S. federal court's ruling late Wednesday against President Donald Trump's authority to levy some of his most sweeping tariffs may have also dealt a serious blow to the president's entire economic agenda.

Trump's core economic policy has been his historic tariffs, but the administration has described its aggressive trade actions as just one leg of a three-legged stool. Built on tariffs, spending cuts and tax cuts, Trump's economic agenda relies on all three components to stand strong.

But a three-judge panel at the U.S. Court of International Trade blocked Trump's global tariffs, which he imposed citing emergency economic powers. Those trade actions include the "Liberation Day" tariffs, 10 per cent universal tariffs and the tariffs aimed at preventing fentanyl from entering the United States.


The three-legged economic stool just lost a leg, at least for now. The court, in its ruling, noted Trump has alternate, if imperfect, tools at his disposal to impose tariffs — tools that multiple White House officials told CNN they are considering and that economists widely expect the administration to make use of in the coming days. The Trump administration has appealed and plans to take the case all the way to the Supreme Court if need be, even as it hopes for an emergency stay, the officials said.

There is no sense that the court ruling will lead the administration to change course. Between appeals and alternatives, Trump will probably double-down on his trade efforts, according to allies inside and outside the White House. "The courts are a pretty obvious foil across the board and we haven't backed down on anything else so far," one official said.

White House officials expressed significant concern about what the ruling means for the administration's ongoing bilateral talks, including two agreements that two senior White House advisers said were close to being announced as soon as this week. Officials started making calls to counterparts Wednesday night to emphasize that, in their minds, nothing had changed and that process and urgency should be maintained.

But trading partners may want to hang back to assess the situation before resuming negotiations.

[Herman]

A U.S. federal court's ruling late Wednesday against President Donald Trump's authority to levy some of his most sweeping tariffs may have also dealt a serious blow to the president's entire economic agenda.

Trump's core economic policy has been his historic tariffs, but the administration has described its aggressive trade actions as just one leg of a three-legged stool. Built on tariffs, spending cuts and tax cuts, Trump's economic agenda relies on all three components to stand strong.

But a three-judge panel at the U.S. Court of International Trade blocked Trump's global tariffs, which he imposed citing emergency economic powers. Those trade actions include the "Liberation Day" tariffs, 10 per cent universal tariffs and the tariffs aimed at preventing fentanyl from entering the United States.


The three-legged economic stool just lost a leg, at least for now. The court, in its ruling, noted Trump has alternate, if imperfect, tools at his disposal to impose tariffs — tools that multiple White House officials told CNN they are considering and that economists widely expect the administration to make use of in the coming days. The Trump administration has appealed and plans to take the case all the way to the Supreme Court if need be, even as it hopes for an emergency stay, the officials said.

There is no sense that the court ruling will lead the administration to change course. Between appeals and alternatives, Trump will probably double-down on his trade efforts, according to allies inside and outside the White House. "The courts are a pretty obvious foil across the board and we haven't backed down on anything else so far," one official said.

White House officials expressed significant concern about what the ruling means for the administration's ongoing bilateral talks, including two agreements that two senior White House advisers said were close to being announced as soon as this week. Officials started making calls to counterparts Wednesday night to emphasize that, in their minds, nothing had changed and that process and urgency should be maintained.

But trading partners may want to hang back to assess the situation before resuming negotiations.

So I heard. This aint over. Far from it.

[Thiel]

So I heard. This aint over. Far from it.

When has Mr Trump ever surrendered because a Democratic appointed judge overturned a key piece of his agenda.

[Herman]

When has Mr Trump ever surrendered because a Democratic appointed judge overturned a key piece of his agenda.

Tru dat