In a recent ruling, a court declared Donald Trump’s tariffs illegal, raising the possibility of the government repaying billions in duties. The US Court of Appeals for the Federal Circuit determined that the president exceeded his authority by unilaterally imposing import taxes on trading partners using emergency powers. This decision casts uncertainty over trade agreements and could invalidate tariffs placed on countries like China, Canada, and Mexico. The court emphasized that the statute does not grant the president the power to impose tariffs, duties, or taxes under a declared national emergency.
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The Trump administration faces the potential of returning nearly $100 billion in customs duties, according to analysts, following a court ruling on the legality of tariffs. The US Court of Appeals upheld a lower court’s ruling, determining that Trump acted unlawfully by implementing broad import levies without Congressional approval. Although the appeals court voted in favor of the initial judgment, the tariffs remain in effect while the Trump administration appeals to the Supreme Court. These tariffs, first introduced in February, have generated approximately $100 billion in extra customs duties.
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A federal appeals court ruled that most of President Trump’s global tariffs were illegal, significantly impacting his trade policies. The court determined that the law Trump invoked to impose the tariffs, including his “reciprocal” tariffs, did not grant him the necessary power. The ruling pauses its effect until October 14th, giving the Trump administration time to appeal to the Supreme Court. The case originated from lawsuits challenging Trump’s use of the International Emergency Economic Powers Act, and the court found that the tariffs’ scope exceeded the president’s authority.
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A federal appeals court recently delivered a significant setback to Donald Trump’s tariff agenda. The court ruled that the president’s use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs was illegal, as the law doesn’t grant the power to levy taxes. This decision largely affirms an earlier ruling, rejecting the argument that tariff imposition falls within the president’s foreign policy authority. While the court acknowledged the president’s constitutional authority, it emphasized that the power to tax belongs to Congress. The White House has stated that they will continue to work on this matter, with Trump himself criticizing the ruling and predicting the Supreme Court would allow his tariffs.
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Trump order imposes additional 25% tariff on goods from India. It seems like we’re looking at another round of potential price hikes for everyday American consumers. This isn’t just a simple trade adjustment; it’s essentially adding a 25% “sales tax” on top of the cost of goods imported from India. And let’s be honest, that’s going to hit people’s wallets.
This move is not hitting everyone equally. While the general public will feel the pinch, it seems like some major players, like Apple, might be exempt. If that’s the case, this might disproportionately affect small to medium-sized American businesses.
Here’s the crux of it: the potential for significant impacts on the cost of goods.… Continue reading
In a recent post, it was announced that India will face a 25% tariff plus a penalty starting August 1st due to high tariffs and trade barriers, as well as India’s significant reliance on Russian military equipment and energy purchases, particularly in light of the ongoing conflict in Ukraine. This decision follows the historical trend of limited trade between the two countries due to India’s trade practices. The implementation of this policy will impact trade relations. The process of establishing new trade agreements typically requires extensive negotiations and comprehensive analysis of the other country’s trade practices.
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Following the US’s imposition of tariffs, French Prime Minister Gabriel Attal has criticized the US-EU trade relationship, labeling a potential agreement as “submission.” Attal argued that the US tariffs are a threat to European sovereignty and economic interests. He emphasized the need for Europe to stand its ground and avoid being forced into a trade deal that would disadvantage the continent. The Prime Minister declared the current situation a difficult moment for Europe, signaling a clear stance against the US’s trade policies.
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China says it will remove all tariffs on African exports to boost trade, and the first thing that springs to mind is the strategic game being played. It’s a move that seems designed to position China as a central economic powerhouse. This kind of long-term thinking, focused on building influence, is a stark contrast to what we sometimes see elsewhere. This allows China to build relationships and create dependencies through favorable trade terms.
What does this mean in practice? Well, China is essentially importing raw materials from Africa. Considering all the resources like oil, minerals, and agricultural products, this move makes Chinese products cheaper by lowering the cost of their inputs.… Continue reading
Almost 30% of German companies postpone US investments, survey shows, and this paints a complex picture of international business in a time of economic and political uncertainty. It seems that a significant chunk of German businesses are hitting the pause button on their plans for expansion and investment in the United States. This hesitation could eventually translate into cancelled investments, essentially drying up funding for projects that could have boosted the American economy.
The data indicates a substantial shift in sentiment. Approximately 29% of German companies have reduced their investments, alongside the nearly 30% postponing new ones. When we add the 15% that have cancelled investments outright, we see a large portion of German companies are taking a more cautious approach to the U.S.… Continue reading
U.S. customs duties revenue exceeded $100 billion for the first time this fiscal year, largely due to increased tariffs imposed by the Trump administration. The Treasury Department reported $113 billion in customs-duty revenue year-to-date, accompanied by a $27 billion overall surplus in June, contrasting with a deficit from the previous year. These tariffs, aimed at boosting domestic production and addressing trade imbalances, have been applied to various trading partners, including China, Brazil, and Japan, although the fluctuating nature of these policies introduces uncertainty regarding future revenue. Treasury Secretary Scott Bessent suggests the US could collect over $300 billion in tariffs by the end of the year.
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John Q. Hosedrinker 
Matt Underwood