US court stops Trump's tariffs: a victory for international trade!

US court stops Trump's tariffs: a victory for international trade!

A New York court ruled today that President Donald Trump's administration does not have the authority to impose tariffs using emergency law. This decision affects nearly all tariffs imposed by the Trump administration, including punitive levies on goods from Canada, Mexico and China. The US government plans to immediately appeal the ruling. The ruling represents a significant change in the Trump administration's trade policy and could have far-reaching consequences for international trade.

The Court of International Trade in New York declared the tariffs void and ruled that only the US Congress had the power to regulate trade. The president's emergency powers are not sufficient to override this decision. The lawsuit affected several small US companies, including a wine and spirits importer and a manufacturer of school sets and musical instruments. They sued because their existence was threatened by Trump's uncontrolled customs policy.

Reactions to the court decision

The decision was prompted by lawsuits from several US states, including 10 governed by Democrats and two governed by Republicans. The plaintiffs accuse Trump of enforcing his tariff policy arbitrarily and without parliamentary control. White House Deputy Chief of Staff Stephen Miller was critical of the court's decision, saying it undermined the Trump administration's efforts to protect the economy.

The impact on financial markets is already being felt: after the ruling, the US dollar rose against the Swiss franc and the Japanese yen, while US stock futures showed positive reactions. Analysts agree that this development could potentially trigger market moves that will have an impact far beyond the US market.

International perspectives

The reaction of the international community has so far remained cautious. A spokesman for the Federal Ministry of Economics in Germany did not comment on the ongoing proceedings in the USA, but emphasized the importance of stable trade relations. The EU Commission also reserves the right to comment and is currently negotiating with the US government about possible trade agreements. The tariffs were widely perceived as a one-sided escalation of international trade conflicts that had already put strain on the financial markets.

The court ruling is expected to go through the courts, although observers do not rule out the possibility that an appeal court could temporarily reinstate the measures. Notwithstanding the ongoing litigation, uncertainty remains about the U.S. government's future trade strategy as it operates in an increasingly complex global trade landscape.