Canada Finally Outsmarts Trump as Court Strikes Down Tariffs
Canada Finally Outsmarts Trump as Court Strikes Down Tariffs
Donald Trump has long championed tariffs, famously calling it "the most beautiful word in the dictionary." To him, tariffs aren't just a policy tool—they’re a symbol of America’s strength, a way to protect domestic jobs, and a method to correct trade imbalances. Throughout his 2024 campaign and early 2025 presidency, Trump repeatedly praised tariffs as the key to “making America rich as hell” again.
His bold words turned into action in early 2025. On February 1st, Trump signed sweeping executive orders imposing a 25% tariff on imports from Canada and Mexico, citing national security threats tied to illegal immigration and drug trafficking. He also slapped a 10% tariff on Canadian energy products like oil and gas. These moves were justified by declaring a national emergency under the International Emergency Economic Powers Act, or IEPA—a law typically reserved for narrow crises.
Despite a brief delay to negotiate with Canada and Mexico, the tariffs went into full effect by March. But Trump’s tariff ambitions didn’t stop there. On April 2nd, he launched what he called the “Liberation Day” tariffs: a universal 10% tariff on all imports, with even higher rates—up to 34%—targeted at China, the EU, Canada, Mexico, and more. This marked the steepest trade barriers in over a century.
The global markets reacted with shock. US stock futures plunged, wiping out trillions in equity value in just days. China retaliated with its own tariffs. European and Canadian leaders condemned the move as a threat to the post-war global trade system. Investors fled to safe havens, while the IMF and Federal Reserve warned of inflation risks and the possible erosion of the dollar’s reserve status.
But then, in a stunning legal twist on May 28th, a unanimous three-judge panel of the US Court of International Trade blocked most of these tariffs. The court ruled that the IEPA did not authorize such broad import duties based on trade deficits, calling it an overreach that violated constitutional separation of powers and required clear congressional authorization. The judges emphasized that trade regulation is Congress’s power—not the president’s emergency prerogative.
Canada welcomed the ruling, seeing it as validation that the tariffs were unlawful and unjustified, though some steel and aluminum tariffs remained. The Canadian stock market rallied on the news, while global markets showed optimism for reduced trade tensions.
The Trump administration immediately appealed, calling the ruling a setback imposed by “activist judges,” insisting the tariffs were necessary to confront a national emergency. Conservative commentators echoed this view, accusing the courts of undermining the will of the American people.
This legal battle highlights the ongoing clash between executive ambition and constitutional limits. Trump’s aggressive tariff agenda shook global markets and trade relationships, but the courts pushed back—reminding all that even presidents must operate within the bounds of law.
Before we delve further, we’re on a mission to reach 1,256 subscribers on the Channel! Your support fuels our efforts to bring you the latest tech insights. So, hit that subscribe button, turn on notifications, and join our growing community. Now, let’s continue!
As the appeals process unfolds, businesses and investors remain watchful, navigating the uncertainty of America’s trade future. Will tariffs return? Or will a more balanced, rules-based trade order prevail? Only time will tell.
If you found this overview insightful, please like and comment below to join the conversation. Don’t forget to subscribe and activate notifications to stay updated on this unfolding story.
#USDollar #EconomicCrisis #Chinatechnology #chinaeconomy #EUTariffs #TrumpTradeWar #GlobalMarkets #EUUSRelations #FreeTradeCrisis #BlackMonday #TrumpTariffs #MarketCrash #USChinaTradeWar #GlobalRecession
Видео Canada Finally Outsmarts Trump as Court Strikes Down Tariffs канала WE, The PEOPLE!
Donald Trump has long championed tariffs, famously calling it "the most beautiful word in the dictionary." To him, tariffs aren't just a policy tool—they’re a symbol of America’s strength, a way to protect domestic jobs, and a method to correct trade imbalances. Throughout his 2024 campaign and early 2025 presidency, Trump repeatedly praised tariffs as the key to “making America rich as hell” again.
His bold words turned into action in early 2025. On February 1st, Trump signed sweeping executive orders imposing a 25% tariff on imports from Canada and Mexico, citing national security threats tied to illegal immigration and drug trafficking. He also slapped a 10% tariff on Canadian energy products like oil and gas. These moves were justified by declaring a national emergency under the International Emergency Economic Powers Act, or IEPA—a law typically reserved for narrow crises.
Despite a brief delay to negotiate with Canada and Mexico, the tariffs went into full effect by March. But Trump’s tariff ambitions didn’t stop there. On April 2nd, he launched what he called the “Liberation Day” tariffs: a universal 10% tariff on all imports, with even higher rates—up to 34%—targeted at China, the EU, Canada, Mexico, and more. This marked the steepest trade barriers in over a century.
The global markets reacted with shock. US stock futures plunged, wiping out trillions in equity value in just days. China retaliated with its own tariffs. European and Canadian leaders condemned the move as a threat to the post-war global trade system. Investors fled to safe havens, while the IMF and Federal Reserve warned of inflation risks and the possible erosion of the dollar’s reserve status.
But then, in a stunning legal twist on May 28th, a unanimous three-judge panel of the US Court of International Trade blocked most of these tariffs. The court ruled that the IEPA did not authorize such broad import duties based on trade deficits, calling it an overreach that violated constitutional separation of powers and required clear congressional authorization. The judges emphasized that trade regulation is Congress’s power—not the president’s emergency prerogative.
Canada welcomed the ruling, seeing it as validation that the tariffs were unlawful and unjustified, though some steel and aluminum tariffs remained. The Canadian stock market rallied on the news, while global markets showed optimism for reduced trade tensions.
The Trump administration immediately appealed, calling the ruling a setback imposed by “activist judges,” insisting the tariffs were necessary to confront a national emergency. Conservative commentators echoed this view, accusing the courts of undermining the will of the American people.
This legal battle highlights the ongoing clash between executive ambition and constitutional limits. Trump’s aggressive tariff agenda shook global markets and trade relationships, but the courts pushed back—reminding all that even presidents must operate within the bounds of law.
Before we delve further, we’re on a mission to reach 1,256 subscribers on the Channel! Your support fuels our efforts to bring you the latest tech insights. So, hit that subscribe button, turn on notifications, and join our growing community. Now, let’s continue!
As the appeals process unfolds, businesses and investors remain watchful, navigating the uncertainty of America’s trade future. Will tariffs return? Or will a more balanced, rules-based trade order prevail? Only time will tell.
If you found this overview insightful, please like and comment below to join the conversation. Don’t forget to subscribe and activate notifications to stay updated on this unfolding story.
#USDollar #EconomicCrisis #Chinatechnology #chinaeconomy #EUTariffs #TrumpTradeWar #GlobalMarkets #EUUSRelations #FreeTradeCrisis #BlackMonday #TrumpTariffs #MarketCrash #USChinaTradeWar #GlobalRecession
Видео Canada Finally Outsmarts Trump as Court Strikes Down Tariffs канала WE, The PEOPLE!
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2 июня 2025 г. 16:00:06
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