Trump wins temporary reprieve in tariffs case
US President Donald Trump celebrated a temporary reprieve for his aggressive tariff strategy on Thursday, with an appeals court preserving his sweeping import duties on China and other trading partners -- for now.
The short-term relief will allow the appeals process to proceed after the US Court of International Trade barred most of the tariffs announced since Trump took office, ruling on Wednesday that he had overstepped his authority.
Welcoming the latest twist in legal skirmishes over his trade policies, Trump lashed out at the Manhattan-based trade court, calling it 'horrible' and saying its blockade should be 'quickly and decisively' reversed for good.
Asian shares fell yesterday, reversing a rally across world markets the previous day, as the judicial wrangling around Trump's on-again-off-again tariffs fanned uncertainty.
US Treasury Secretary Scott Bessent said after Thursday's appeals court ruling that trade talks with China were 'a bit stalled' and Trump might need to speak to President Xi Jinping in order to iron out tariffs between the world's two biggest economies.
'I think that given the magnitude of the talks, given the complexity, that this is going to require both leaders to weigh in with each other,' Bessent told Fox News after the ruling from the US Court of Appeals for the Federal Circuit, known as an administrative stay.
Washington and Beijing agreed this month to pause reciprocal tariffs for 90 days, a surprise de-escalation in their bitter trade war following talks between top officials in Geneva.
Asked about Bessent's comments at a regular news conference yesterday, Chinese foreign ministry spokesman Lin Jian said Beijing had 'stated its position on the tariffs issue many times' in an apparent reference to the Asian manufacturing giant's fury at the levies.
Trump has moved to reconfigure US trade ties with the world since returning to the presidency in January, using levies to force foreign governments to the negotiating table.
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