“A federal appeals court late Friday struck down the Trump administration’s signature tariffs, finding that the president had gone too far in his use of emergency powers to rewrite U.S. trade policy,” the Wall Street Journal reports.
“The ruling from the U.S. Court of Appeals for the Federal Circuit upheld a lower-court decision that undercuts a core tenet of President Trump’s economic agenda. The majority found the president overstepped his authority under a 1977 law known as the International Emergency Economic Powers Act, or Ieepa.”
Reuters: “Trump has made tariffs a pillar of U.S. foreign policy in his second term, using them to exert political pressure and renegotiate trade deals with countries that export goods to the United States.”
New York Times: “At the heart of the fight is the extent to which Mr. Trump may invoke a decades-old economic emergency law to issue withering tariffs on the nation’s foremost trading partners. The law does not mention tariffs, but the president has seized on the statute to apply vast new duties anyway, aiming to remake U.S. trade relationships and raise billions of dollars in revenue.”
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