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Trump angry about court ruling: trade war threatens to escalate again!
Donald Trump expresses dissatisfaction with a court ruling on tariff policy and plans his next steps in the trade war.
Trump angry about court ruling: trade war threatens to escalate again!
Donald Trump is very disappointed with a recent federal court ruling that found his tariff policies illegal. As the Luzerner Zeitung reports, Trump describes the court decision as a setback in his trade war. However, the court gave him more time to respond to the ruling, putting the case on hold for now. The appeal court has decided that the parties to the dispute have until at least June 9th to present their arguments.
Stephen Miller, one of Trump's advisers, speaks of a "judicial tyranny" in this context, while Karoline Leavitt, the White House spokeswoman, emphasizes that courts should not have the power to decide because they are not directly elected by the people. The situation poses a challenge for Trump to find ways to continue enforcing his trade policies.
Trade war and punitive tariffs
Citing a law from the 1970s, Trump has the ability to impose punitive tariffs of up to 15% on imports for a maximum period of 150 days. In addition, industry-specific import fees, for example on steel or aluminum, are legal, but require a lengthy consultation process.
Trump is pursuing two central goals with his trade policy: On the one hand, he is trying to persuade foreign companies to relocate their operations to the USA. On the other hand, he would like to reorganize the state treasury through customs revenue. Since the beginning of the year, more than $68 billion in customs revenue has been recorded. However, the deficit in the current fiscal year is over $1,051 billion, highlighting the challenges of his policies.
The tensions surrounding punitive tariffs have broad implications for international trade. The trade war that Trump has declared is causing difficulties for many companies and raises the question of how the US economy will be affected in the long term. A look at current developments makes it clear that both political and economic strategies are required to stabilize the current situation.
Given these challenges, it remains to be seen what steps Trump will take next to stay the course on trade policy.