US Court Halts Trump's Major Tariffs: Key Legal Decision

New York — A federal court ruled Wednesday that President Donald Trump exceeded his authority in implementing extensive tariffs, impacting everyone from major corporations to everyday consumers. The administration promptly appealed the decision, leaving the status of Trump’s tariffs—and their potential economic impact—unclear. A three-judge panel from the US Court of International Trade in Manhattan halted the “Liberation Day” tariffs and previous tariffs aimed at China, Mexico, and Canada, which targeted fentanyl imports. The court's unanimous ruling granted a permanent injunction, pausing most of Trump’s tariffs. While futures indicated positive market reactions, the decision could provide critical relief for small businesses grappling with increased import costs, emphasizing the need for checks on presidential power. Legal experts are hopeful for sustained changes if upheld in appeal.