• Mon, Mar 2, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--
 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

29 May 2025 06:27  |

Trump’s Global Tariffs Blocked by US Trade Court (1)

President Donald Trump’s global tariffs have been deemed illegal and blocked by a US trade court, dealing a major blow to a pillar of the Republican Party’s economic agenda.

The ruling can now be appealed by the Trump administration in federal court.

A three-judge panel at the US Court of International Trade in Manhattan ruled Wednesday in favor of Democratic-led states and a group of small businesses that argued Trump had wrongly invoked emergency law to justify the levies.

The ruling is one of Trump’s biggest setbacks in court amid a wave of lawsuits over executive orders that have tested the limits of presidential power. Others have challenged Trump’s mass layoffs of federal workers, restrictions on citizenship based on birth and efforts to slash federal spending that has been approved by Congress.

Global markets have fluctuated wildly since Trump announced the levies in a sweeping executive order on April 2. Since then, trillions of dollars in market value have been lost and regained amid weeks of delays, reversals and announcements about potential trade deals, particularly with China.(alg)

Source: Bloomberg

Related News

GLOBAL ECONOMY

Trump Vows to 'immediately' Negotiate for End to Ukraine ...

President Donald Trump announced Wednesday he and Russia's leader agreed in a phone call to “immediately” begin negotiati...

13 February 2025 12:25
ECONOMY

Australia Unemployment Rate Rises To 4.1%

Australia's Unemployment Rate rose to 4.1% in January from 4.0% in December, official data released by the Australian Bureau ...

20 February 2025 07:46
GLOBAL ECONOMY

Breaking: US Nonfarm Payrolls rise by 143,000 in January vs...

Nonfarm Payrolls (NFP) in the US rose by 143,000 in January, the US Bureau of Labor Statistics (BLS) reported on Friday. This...

7 February 2025 20:40
GLOBAL ECONOMY

Canada To Announce C$29.8 Billion In Retaliatory Tariffs Ag...

Canada will announce C$29.8 billion in retaliatory tariffs against the United States on Wednesday in response to U.S. Preside...

12 March 2025 18:54
BIAS23.com NM23 Ai