Trump's tariffs remain in effect for longer, US Appeals Court says: What does it mean?
Donald Trump can continue to enforce his global tariffs for now until the appeals proceed, a federal appeals court held in a win for the president on one of his signature economic policies.
The order Tuesday by the US Court of Appeals for the Federal Circuit extends an earlier, short-term reprieve for the administration as it presses a challenge to a lower court ruling last month that blocked the tariffs.
The Justice Department argued that the concerns of US officials over ongoing trade negotiations took precedence over the economic harm reported by the small businesses that filed the lawsuit.
What does it mean? The court ruling means that President Donald Trump can, for now, continue enforcing his 'Liberation Day' tariffs on imports from most US trading partners.
This includes a separate set of tariffs specifically imposed on Canada, China, and Mexico.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
21 minutes ago
- Economic Times
China, Hong Kong stocks fall as initial Sino-US trade optimism wanes
Stocks in China and Hong Kong traded lower on Thursday, led by declines in the tech sector, as markets struggled to sustain the positive momentum from the Sino-U.S. trade talks that lacked concrete details. ADVERTISEMENT China's blue-chip CSI 300 Index closed about 0.1% lower after wavering through the day, slipping from the three-week high touched on Wednesday. Hong Kong's Hang Seng index lost 1.4% at close to pull back from the nearly three-month high hit in the previous session. Tech shares led losses in onshore and offshore markets. The CSI Semiconductor Index shed 1.5%, while the Hang Seng Tech Index dropped 2.2%. Among major losers, chipmaker SMIC fell 2% to a one-week low. Alibaba weakened 3.2% and EV-maker Xpeng slid 6.7%. The CSI Rare Earth Index closed flat after slipping nearly 1% in the morning session and continued to hover near its seven-month high. ADVERTISEMENT A trade truce between the world's two biggest economies was back on track, U.S President Donald Trump said, a day after negotiators from Washington and Beijing agreed on a framework to ease bilateral retaliatory tariffs. Under the agreement, Beijing will lift export curbs on rare earth minerals and the U.S. will restore Chinese students' access to its universities, Trump said on Truth Social. ADVERTISEMENT Yet the terms remain subject to final approvals, with details notably absent. The 55% tariffs on Chinese imports will also stay, U.S. Commerce Secretary Howard Lutnick said. "We still don't know if what Trump says will actually happen. It's disappointing that the tariffs rates were not dialled down at all and tech curbs on China were not even mentioned," said Jason Chan, senior investment strategist at Bank of East Asia, Hong Kong. ADVERTISEMENT The talks left key issues, like chip exports, unaddressed, leaving room for conflicts in the future, and no one knows for how long the current truce will last, he added. Chinese markets have been struggling to recover from trade shocks for the past two months after Trump announced sweeping tariffs on April 2 that threatened the global trade system. ADVERTISEMENT The CSI 300 Index has barely eked out any gains since then, while the Hang Seng Index has climbed 3.5%, but the two are underperforming the nearly 10% bounce in the MSCI World Index . The market is less sensitive to trade talks and investors are shifting focus to economic fundamentals, Wang Zhuo, partner at Zhuozhu Investment, said. "The key for China now is to bolster manufacturers' confidence and break the deflationary trend." (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
35 minutes ago
- Time of India
China, Hong Kong stocks fall as initial Sino-US trade optimism wanes
Stocks in China and Hong Kong traded lower on Thursday, led by declines in the tech sector, as markets struggled to sustain the positive momentum from the Sino-U.S. trade talks that lacked concrete details. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Stocks in China and Hong Kong traded lower on Thursday, led by declines in the tech sector, as markets struggled to sustain the positive momentum from the Sino-U.S. trade talks that lacked concrete blue-chip CSI 300 Index closed about 0.1% lower after wavering through the day, slipping from the three-week high touched on Kong's Hang Seng index lost 1.4% at close to pull back from the nearly three-month high hit in the previous shares led losses in onshore and offshore markets. The CSI Semiconductor Index shed 1.5%, while the Hang Seng Tech Index dropped 2.2%.Among major losers, chipmaker SMIC fell 2% to a one-week low. Alibaba weakened 3.2% and EV-maker Xpeng slid 6.7%.The CSI Rare Earth Index closed flat after slipping nearly 1% in the morning session and continued to hover near its seven-month high.A trade truce between the world's two biggest economies was back on track, U.S President Donald Trump said, a day after negotiators from Washington and Beijing agreed on a framework to ease bilateral retaliatory the agreement, Beijing will lift export curbs on rare earth minerals and the U.S. will restore Chinese students' access to its universities, Trump said on Truth the terms remain subject to final approvals, with details notably absent. The 55% tariffs on Chinese imports will also stay, U.S. Commerce Secretary Howard Lutnick said."We still don't know if what Trump says will actually happen. It's disappointing that the tariffs rates were not dialled down at all and tech curbs on China were not even mentioned," said Jason Chan, senior investment strategist at Bank of East Asia, Hong talks left key issues, like chip exports, unaddressed, leaving room for conflicts in the future, and no one knows for how long the current truce will last, he markets have been struggling to recover from trade shocks for the past two months after Trump announced sweeping tariffs on April 2 that threatened the global trade CSI 300 Index has barely eked out any gains since then, while the Hang Seng Index has climbed 3.5%, but the two are underperforming the nearly 10% bounce in the MSCI World Index .The market is less sensitive to trade talks and investors are shifting focus to economic fundamentals, Wang Zhuo, partner at Zhuozhu Investment, said."The key for China now is to bolster manufacturers' confidence and break the deflationary trend."
The Print
44 minutes ago
- The Print
Gold jumps Rs 820 to Rs 98,490/10 g; silver remains flat
However, silver prices traded flat at Rs 1,07,100 per kilogram (inclusive of all taxes) on Wednesday. The precious metal of 99.5 per cent purity appreciated by Rs 750 to Rs 98,000 per 10 grams (inclusive of all taxes). New Delhi, Jun 11 (PTI) Gold prices jumped Rs 820 to Rs 98,490 per 10 grams in the national capital on Wednesday due to fresh buying by retailers and stockists in line with firm global trends, according to the All India Sarafa Association. Meanwhile, spot gold in the international markets rose by USD 12.09 per ounce or 0.36 per cent to USD 3,334.69 per ounce. 'Gold edged higher…supported by safe-haven demand as traders expressed concerns about tariff-related uncertainty. 'This renewed uncertainty followed a federal appeals court ruling that allowed US President Donald Trump to continue imposing global tariffs,' HDFC Securities' Senior Analyst – Commodities Saumil Gandhi said. Gandhi also highlighted that these concerns overshadowed some of the optimism stemming from the positive trade talks between the US and China. During their two-day discussions in London, both parties agreed on a plan to ease trade tensions. According to commodities market experts, geopolitical tensions stemming from the Russia-Ukraine war and intensifying conflict in the Middle East are driving the demand for gold as a safe-haven asset. However, spot silver fell 0.5 per cent to trade at USD 36.34 per ounce in the global markets. Kotak Securities' AVP-Commodity Research Kaynat Chainwala said the focus of market participants will shift to the upcoming US Consumer Price Index data, which will be released later in the day, giving more insights into the monetary policy outlook. PTI HG SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
