Hey everyone, a twist is rocking the U.S. trade scene! Just one day after the U.S. Court of International Trade invalidated the tariffs set by the Trump administration, a federal appeals court hit the pause button on that ruling. This decision temporarily stays the previous court order while the appeals court reviews the motions papers. 🍿
White House Press Secretary Karoline Leavitt assured that "the President is acting within his authority," emphasizing that all actions are backed by existing U.S. laws. This move gives the administration some much-needed breathing room as questions about the limits of the International Emergency Economic Powers Act continue to surface.
Adding another twist to this legal drama, U.S. District Judge Rudolph Contreras in Washington, D.C., issued a preliminary injunction to block the collection of tariffs from two educational toy companies that manufacture most of their products in Asia. Describing the tariffs as "unlawful," Judge Contreras stayed the collection for 14 days so that the companies can seek further review.
As the legal battle unfolds, this decision could have broad implications for U.S. trade policy and global markets. Stay tuned as this story develops and reshapes the landscape of international trade!
Reference(s):
cgtn.com
