A U.S. federal appeals court has upheld President Trump's sweeping "Liberation Day" tariffs, allowing them to remain in effect while it reviews a lower court's ruling that blocked them.
The lower court had found that Trump exceeded his authority. These tariffs affect most U.S. trading partners, including Canada and China. Although the appeals court has yet to decide whether the tariffs comply with the International Emergency Economic Powers Act (IEEPA), it has temporarily suspended the lower court's ruling.
On May 28, the U.S. Court of International Trade ruled that only Congress has the power to impose tariffs and that Trump misused IEEPA, a law typically invoked for sanctioning foreign threats.
Trump, the first president to use IEEPA for tariffs, justified them as responses to fentanyl trafficking and trade deficits. The lawsuits, filed by small businesses and 12 states, are among at least five legal challenges, none of which have validated Trump's emergency tariff authority.
Source: Trading Economics
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