President Trump’s tariff strategy went through the courts like a bouncing ball on Wednesday and Thursday. At mid-week, the U.S. Court of International Trade ruled the president does not have the authority to use the Emergency Economic Powers Act to enact the reciprocal tariffs. A second federal court made the same ruling Thursday. Before the day was done, a federal appeals court issued a temporary pause in the lower court’s ruling and reinstated the Trump tariffs. This case is moving on a fast track, with the paperwork outlining the legal basis for the case due within a matter of days. Trump addressed the legal challenges in a social media post over the weekend, saying if the courts ruled against these tariffs, other countries could hold the U.S. hostage with ‘anti-American’ tariffs.’ Trump also said that it would result in ‘economic ruination’ for the United States.
