President Trump has declared a trade emergency to impose tariffs under the 1977 International Emergency Economic Powers Act, claiming threats to national security. However, a federal court recently ruled that most tariffs are beyond his authority. This judicial decision pauses trade talks and creates uncertainty in global markets, as businesses and nations await clarity. Trump's actions have raised concerns about executive overreach and Congress's role in trade policy, with remaining tariffs still impacting industries like steel and aluminum.
Since returning to the White House in January, President Donald Trump has upended global trade and international relations, wiping billions off the stock market in the process.
The president claimed that a lack of reciprocity in US overseas trade arrangements was an unusual and extraordinary threat to the national security and economy.
Mr Trump was effectively exercising an executive power grab as he declared an emergency and governed by executive decree under the 1977 International Emergency Economic Powers Act.
The ruling has left nations and businesses hanging, with some tariffs remaining while many others are suspended, causing uncertainty in the markets.
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