A federal judge needs more time to consider a motion filed by both sides of the U.S. Court of Appeals for the Federal Circuit to suspend President Donald Trump's far-reaching tariffs, according to the U.S. Court of Appeals for the Federal Circuit.
The decision to lift the unlawful tariffs has been put on hold pending federal circuit review
The U.S. appellate circuit has intervened following a ruling by the USCIT that the Trump administration misused the International Emergency Economic Powers Act (IEEPA) to impose global tariffs that exceeded legal limits.
The IEEPA was intended to allow the White House to quickly impose temporary restrictions and trade barriers during a national security crisis, according to the USCIT, not to unilaterally impose sweeping policies to bypass Congress.
The Trump administration quickly appealed the USCIT's ruling on Wednesday, and a federal appeals court allowed Trump's "Worldwide Retaliatory Tariff Order" to remain in effect while a federal judge reviews both sides of the ruling.
The USCIT ruled against the Trump administration after five businesses and twelve states sued the White House to halt President Trump's sweeping emergency powers. Under the USCIT ruling, Trump's 30% tariffs on China, 25% on USCMC-exempt goods from Canada and Mexico, and the Trump administration's 10% blanket import tax must be lifted within ten days of the ruling.
Investors have been waiting a long time for a final ruling on the matter; the Trump administration is widely expected to appeal the ruling and soon begin exploring alternative legal avenues to enforce its ‘tax first, ask questions later' trade policy. (alg)
Source: FXstreet
Japan's annual inflation rate edged down to 2.9% in November 2025 from October's 3-month high of 3.0%. Core inflation stood at 3.0%, keeping the same pace as in October and aligning with estimates. Mo...
Goldman Sachs sees gold prices climbing 14% to $4,900 per ounce by December 2026 in its base case, it said in a note on Thursday, while citing upside risks to this view due to a potential broadening o...
The BRICS group of countries is increasingly being considered as an alternative for global diplomacy and cooperation amidst increasing tariff and protectionist policies from the United States. A numbe...
Applications for US unemployment benefits fell after a spike in the previous week, underscoring the choppy nature of the data at this time of year. Initial claims decreased by 13,000 to 224,000 ...
Annual inflation in the United States (US), as measured by the change in the Consumer Price Index (CPI), fell 2.7% in November, according to a report by the US Bureau of Labor Statistics (BLS) on Thur...
Silver prices rose on Friday (December 19) and remained near their all-time highs, driven by strong investor interest in safe-haven assets. The weakening US dollar and expectations of lower global interest rates have made silver increasingly...
The Hang Seng Index rose 192 points, or 0.75%, to end at 25,690 on Friday, extending its gains for a third session as all major sectors advanced. Sentiment was boosted by continued gains in mainland China's stock market amid reports that ByteDance...
European stocks opened mixed on Friday (December 19th), as investors digested a number of interest rate decisions and awaited crucial budget talks in France. Regional investors were shaken by a day full of central bank decisions, with Thursday...
Fed Governor Christopher Waller said Wednesday that the Fed is in no rush to cut interest rates, given the current outlook, according to...
Stocks fell slightly on Tuesday as traders digested the delayed release of the November's jobs report.
The S&P 500 fell 0.1%, while the Nasdaq...
Nonfarm Payrolls (NFP) in the United States rose by 64,000 in November, according to a report from the U.S. Bureau of Labor Statistics (BLS) on...
European stocks closed lower on Tuesday, with the STOXX 50 down 0.5% and the broader STOXX 600 slipping 0.4%, as optimism around Russia–Ukraine...