MNI BRIEF: U.S. Trade Court Rules Against Trump Tariffs

The U.S. Court of International Trade ruled Wednesday that President Donald Trump's April 2 tariffs superseded his executive authority and sidelined Congress, a key setback to the administration's agenda that adds a new layer of uncertainty into an already clouded economic outlook. 

"Worldwide and Retaliatory Tariffs do not comply with the limitations Congress imposed upon the President’s power to respond to balance-of-payments deficits," the court said in its ruling.   

"The President’s assertion of tariff-making authority in the instant case, unbounded as it is by any limitation in duration or scope, exceeds any tariff authority delegated to the President under IEEPA. The Worldwide and Retaliatory tariffs are thus ultra vires and contrary to law," a three-judge panel wrote. (See MNI INTERVIEW: Fed On Hold Until Tariff Pause Passes- Lockhart)

The decision from the Court of International Trade might face an appeal from the White House.