Trade Whiplash

The courts weighed in on President Trump’s tariff strategy this past week with the Court of International Trade ruling Trump’s of emergency powers to enact reciprocal tariffs is illegal. In addition, a federal judge in Washington, D.C. blocked tariffs in a similar ruling. An appeals court later said the tariffs can continue while the Trump Administration challenges the ruling. 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 would result in ‘economic ruination’ for the United States.