Federal Court Strikes Down Trump's 10 Percent Global Tariffs

1 month ago 5

Rommie Analytics

A U.S. trade court has ruled against President Donald Trump’s 10 percent global tariffs. The U.S. Court of International Trade ruled 2-1 that a 1970s law doesn’t allow the president to enact sweeping tariffs worldwide. The State of Oregon, a spice company called Burlap and Barrel, and a toy company named “Basic Fun Inc.” challenged the tariffs. Article 1, Section eight of the U.S. Constitution gives Congress the power to levy duties, collect taxes, and more. Section 122 of the Trade Act of 1974 gives some of that power to the president. It allows the president to impose temporary surcharges...
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