A U.S. trade court blocked most of President Donald Trump's tariffs, ruling that he overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. The court found that Congress has exclusive authority to regulate commerce with other countries, not the president's emergency powers. Financial markets reacted positively to the ruling, with the U.S. dollar rallying and equities rising. The court invalidated Trump's tariff orders since January, but industry-specific tariffs were not addressed. The ruling creates uncertainty around Trump's trade strategy and negotiations with trading partners.
Source: https://www.newsmax.com/us/trump-tariffs-trade/2025/05/29/id/1212760