Trump's tariffs stay in place

US PRESIDENT Donald Trump celebrated a temporary legal win as a court preserved his aggressive tariffs, triggering mixed reactions yesterday across jittery financial markets.

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The short-term relief will allow the appeals process to proceed after the US Court of International Trade barred most of the tariffs announced since Trump took office, ruling on Wednesday that he had overstepped his authority.

Welcoming the latest twist in legal skirmishes over his trade policies, Trump lashed out at the Manhattan-based trade court, calling it “horrible” and saying its blockade should be “quickly and decisively” reversed for good.

Asian shares fell on Friday, reversing a rally across world markets the previous day, as the judicial wrangling around Trump’s on-again-off-again tariffs fanned uncertainty.

Paris, London and Frankfurt were all in the green as EU trade chief Maros Sefcovic said following a call with US Commerce Secretary Howard Lutnick that the bloc was “fully invested” in reaching a deal with the US.

Sefcovic could meet his US trade counterparts in Paris next week on the sidelines of an Organisation for Economic Co-operation and Development ministerial meeting, an EU official said.