Federal Trade Court Blocks Trump’s ‘Liberation Day’ Tariffs

A federal court said on May 28 that President Donald Trump exceeded his authority when he declared a national emergency to impose sweeping baseline tariffs on nearly all U.S. trading partners earlier this year. In a Wednesday court filing, the U.S. Court of International Trade, a federal court based in New York, does not interpret the International Emergency Economic Powers Act (IEEPA) to mean that the president has the “authority to impose unlimited tariffs on goods from nearly every country in the world.” “The Constitution assigns Congress the exclusive powers to ‘lay and collect Taxes, Duties, Imposts and Excises,’ and to ‘regulate Commerce with foreign Nations,'” the court ruling states....