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Jolt for Trump tariff plan
Financial Express Lucknow
|May 30, 2025
Uncertainty will nevertheless continue as the US President is unlikely to back down
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The US Court of International Trade (CIT) has delivered a major setback to President Donald Trump's weaponisation of tariffs to pressurise nations — especially those that registered persistent bilateral trade surpluses — to strike deals that are more favourable to the US.
On Wednesday, a three-member panel of federal judges ruled that the US President had overstepped his authority to impose tariffs on nearly every country around the world. This ruling effectively blocks him from levying the steepest tariffs on China and other major trading partners as the federal law did not grant him "unbounded authority" to do so.
This story is from the May 30, 2025 edition of Financial Express Lucknow.
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