Federal Court Rules Against President Trump's 10% Global Tariff, Impacting Trade Agenda
A federal court has ruled against President Donald Trump's imposition of a 10% global tariff, marking another setback for his trade agenda. The Court of International Trade, in a 2-1 decision, found that Trump was not justified in using the 1974 Trade Act to impose the levy. This act allows for temporary tariffs to address significant balance-of-payments deficits, but the court determined that the necessary conditions were not met. The ruling follows a previous Supreme Court decision that struck down Trump's use of emergency powers to enact tariffs, declaring it unconstitutional. The 10% tariff, announced on the same day as the Supreme Court ruling, applied to most imports but exempted certain products and those covered by trade deals with Canada and Mexico. The court's decision was prompted by challenges from 24 states and companies like Burlap & Barrel and Basic Fun!, although most states were found to lack legal standing. 
