Cryptopolitan 2025-05-29 05:21:50

Trump’s administration slams the Federal Trade Court ruling

The three-judge Court of International Trade struck down U.S. President Donald Trump’s proposed Liberation Day tariffs, barring most of the restrictions the President imposed on its trading partners. On Wednesday, Trump filed an appeal against the ruling, arguing that his actions aim to address what he called a national emergency. The court said it does not acknowledge the effectiveness of Trump’s use of tariffs as leverage, claiming it was impermissible because federal law doesn’t allow it. The verdict marked a significant setback to the Republican leader as he sought to revise the U.S. trading relationship with the world by forcing governments to the negotiating table through tough tariffs. Trump’s administration slams the Federal Trade Court ruling 🚨JUST IN: President Trump has filed an appeal against the ruling that struck down his Liberation Day Tariffs. pic.twitter.com/evOGXvBym1 — DK🇺🇸🦅🇺🇸 (@1Nicdar) May 29, 2025 The decision quashing the levies gave the White House 10 days to complete the bureaucratic process of halting the tariffs. The administration has already appealed the ruling. Trump’s administration argues that the judges have no right to assess the President’s actions, which the White House frames as a national emergency. Trump’s spokesman, Kush Desai, noted that the President pledged to put America first, and the administration is committed to using every lever of executive power to address the crisis and restore American greatness. Desai’s remarks did not mention any legal challenges, although reports indicated that Trump had already filed a notice of appeal on Wednesday. One of the President’s aides, Stephen Miller, took to social media to condemn what he called a judicial coup that he believed was out of control. The Justice Department has defended Trump’s trade strategy in court, arguing that the judiciary has very limited authority over his actions. The department also condemned the court’s claim that the White House was attempting to take over the power of the other branches of government. Trump imposed sweeping tariffs on April 2 on most trading partners, adding a baseline of 10% with steeper duties on several economies, including China and the European Union. Global markets plummeted but calmed after he paused the larger tariffs for 90 days to allow for negotiations. The court’s verdict also canceled levies that Trump imposed on Canada, Mexico, and China separately using emergency powers. The U.S. President acknowledged that Americans will reap the benefits of his “America First” trade posture, pointing to early successes in deals struck with Britain and China. The US Treasury Secretary mentioned on Friday that the lower 10% baseline tariff rate was contingent on countries or trading blocs that negotiated in good faith. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

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