00:00It's Benzinga, bringing Wall Street to Main Street.
00:02A U.S. trade court ruled that Trump's temporary 10% global tariffs,
00:07imposed under Section 122 of the Trade Act of 1974, were unjustified, according to Reuters.
00:13The court blocked the levies only for two private importers and the state of Washington,
00:18while appeals proceed. The ruling leaves the tariffs in place for other importers
00:22until the duties expire in July. The court rejected a broader injunction request from
00:2724 mostly Democratic-led states, ruling they lacked standing. Trump criticized the ruling and said
00:33his administration would pursue tariffs through other legal authorities, including Section 301
00:39investigations, due for completion in July. The case follows a Supreme Court decision that
00:44struck down Trump's earlier global tariffs, imposed under emergency powers laws.
01:15For all things money, visit Benzinga.com.
Comments