Wall Street traders have nicknamed President Trump “TACO” (Trump Always Chickens Out), reflecting his pattern of issuing tariff threats, causing market drops, then retreating. This nickname, however, may backfire; one expert predicts Trump will maintain tariffs to counter the perceived insult. Trump’s furious reaction to the nickname underscores its impact and his sensitivity to criticism of his trade tactics. The ongoing legal challenge to his reciprocal tariff policy adds further economic uncertainty.
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A recent court ruling against Donald Trump’s tariffs has sparked outrage among his MAGA allies. The decision exposed significant flaws in the legal arguments supporting the tariffs, according to a lawyer for the opposing side. This legal setback represents a significant blow to Trump’s trade policies. The ruling’s implications are far-reaching and will likely impact future trade disputes.
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A federal court initially ruled against President Trump’s tariffs, citing an overreach of executive authority under the International Emergency Economic Powers Act (IEEPA). This ruling was temporarily stayed by a higher court pending appeal. Despite the legal challenges, market reactions were muted, with economists suggesting investors have already discounted the administration’s erratic trade policies. The administration plans to appeal to the Supreme Court if necessary, leaving the ultimate outcome uncertain and the future of the president’s trade agenda in question.
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Following a federal court ruling partially invalidating President Trump’s tariffs, former Vice President Pence reiterated his stance that the president lacks the constitutional authority to unilaterally impose tariffs. Pence cited Article 1, Section 8 of the Constitution, which grants Congress the power to levy taxes and duties. A federal court agreed, stating that the president’s invocation of the International Emergency Economic Powers Act to justify tariffs exceeded his authority. The administration has appealed the decision, keeping the tariffs temporarily in effect pending the appeal’s outcome.
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A federal appeals court temporarily stayed a lower court ruling that invalidated most of President Trump’s tariffs, granting the administration’s request for a pause. This stay allows the administration time to argue against the lower court’s decision, which found the president lacked the authority under the International Emergency Economic Powers Act to impose the tariffs. Plaintiffs, including state attorneys general and businesses, have a week to respond before the appeals court makes a final decision. The White House strongly criticized the lower court’s ruling, while plaintiffs expressed confidence in a reversal.
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A US trade court ruled President Trump’s sweeping tariffs illegal, exceeding his authority under the International Emergency Economic Powers Act (IEEPA). The Trump administration immediately appealed, seeking a stay from the ruling to prevent what it called irreparable economic harm, and plans to take the case to the Supreme Court. The ruling invalidated tariff orders issued under the IEEPA, requiring new orders within ten days, but industry-specific tariffs remain unaffected. While the White House denounced the decision as judicial overreach, the ruling was celebrated in global financial markets.
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A U.S. court ruling blocking many of President Trump’s tariffs initially spurred a significant stock rally in Asia, with markets in Tokyo and Seoul seeing gains of nearly 2%. However, this enthusiasm was tempered in the U.S., where the S&P 500 showed only modest gains, and the Dow fell slightly, due to uncertainty surrounding the White House’s appeal and the ruling’s limited scope. While the decision was viewed positively, the potential for future tariffs under different laws and ongoing legal challenges contributed to a more cautious market response. Strong performances from tech stocks, particularly Nvidia and C3ai, helped offset declines in some sectors.
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Following a federal trade court’s unanimous decision blocking President Trump’s proposed tariffs, MSNBC’s Lawrence O’Donnell predicted a significant stock market rally. The court’s summary judgment, exceeding even the plaintiffs’ request, effectively nullified Trump’s plan, which O’Donnell deemed unconstitutional and illegal. This ruling, rejecting all of Trump’s justifications, represents a setback for his trade policies. Despite Trump’s appeal, the decision signals a potential restoration of international trade order.
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A US federal court blocked President Trump’s global tariffs, ruling that the invoked emergency law didn’t grant him unilateral authority to impose them. The court cited the Constitution’s grant of commerce regulation power to Congress. The Trump administration plans to appeal, while various parties, including affected businesses and states, celebrated the decision. Global markets reacted positively to the ruling, although the long-term effects remain uncertain pending appeals.
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A federal court blocked President Trump’s widespread tariffs, deeming them beyond his legal authority under the International Emergency Economic Powers Act (IEEPA). The court rejected the administration’s claim that IEEPA permitted such broad tariff powers, finding the levies on various countries (including a global 10% tariff) addressed trade imbalances rather than genuine emergencies. The ruling specifically targeted tariffs imposed on China, Mexico, and Canada, deemed unrelated to stated justifications of drug trafficking and illegal immigration. The Trump administration plans to appeal the decision.
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John Q. Hosedrinker