- President Donald Trump announced an “emergency meeting” on Wednesday to discuss U.S. tariffs.
- A federal appeals court ruled last week that Trump’s global tariffs were an “illegal use of emergency power.”
- The tariffs remain in effect, but the court decision marks a significant legal setback for Trump’s policy.
- Trump stated the court’s ruling could impact the U.S. economy and urged that the matter could go to the Supreme Court.
- The court decision claims Congress likely did not intend to give the president unlimited authority over tariffs.
President Donald Trump said there will be an “emergency meeting” on Wednesday to address the status of U.S. tariffs. Trump made the announcement at the White House while speaking with reporters, briefly referencing a recent court ruling about tariffs.
A federal appeals court ruled last week that Trump’s use of emergency powers to impose global tariffs was unlawful. The tariffs, however, remain in place for now. According to the decision, Trump exceeded his authority under the emergency law.
The ruling mostly upheld a previous judgment from a federal trade court in New York. In a 7-4 split, the appellate judges wrote, “It seems unlikely that Congress intended to … grant the President unlimited authority to impose tariffs.” The legal setback could push the dispute to the U.S. Supreme Court if Trump decides to appeal.
On June 2, Trump commented on the potential consequences if the court rules against his position. He said, “if the court in some way makes a ruling on tariffs that is unfavorable to us (which is not expected), then other countries will take advantage of this to hold us hostage with anti-American tariffs and use these tariffs against us, meaning the destruction of the U.S. economy!” He restated on Tuesday that global tariffs are an economic emergency and warned of a “chain reaction” if the tariff policy fails.
The emergency meeting will focus on the court’s tariff ruling, following ongoing debate about presidential authority in trade policy. The ruling may lead to further legal review by the U.S. Supreme Court if Trump decides to continue challenging the lower court’s decision.
For more details, see the announcement from Watcher.Guru.
Gulf countries have also responded to the U.S. tariffs, leading to significant investments estimated at a trillion U.S. dollars, according to related reports.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Starknet Hit by Multiple Outages After Latest Grinta Upgrade
- Figure Targets $526M IPO Amid Surge in Blockchain Public Listings
- Shadow AI Threatens Data Privacy as Employees Bypass Controls
- Lula Convenes BRICS Virtual Summit to Respond to Trump Tariffs
- VeChain Corrects; Can VET Reach $0.035 by Sept 2025? Outlook
