Latest news with #301
Yahoo
44 minutes ago
- Business
- Yahoo
Trump's Tariff Empire Under Fire -- Court Ruling Could Flip Global Trade on Its Head
Trump's favorite tariff tool just got slapped down in courtand while the appeals bench hit pause on that decision, the damage could already be done. A federal trade court ruled Trump overstepped by using emergency powers under IEEPA to push broad levies on U.S. allies and rivals. If the ruling sticks, it could roll back two-thirds of those tariffs and sink the effective U.S. tariff rate from nearly 27% to under 6%, according to Bloomberg Economics. That's not just a legal blowit's a blow to the core of Trump's trade leverage heading into election season. The White House isn't out of options, but none of them are quick or clean. Trump could fall back on older laws like Section 232 or 301, which allow for tariffs on national security or unfair trade groundsbut those come with long timelines, more paperwork, and tighter restrictions. Yes, he can pivot, said Capital Alpha's James Lucier. But he's running out of time to make it count before the midterms. Trade advisor Peter Navarro insists the tariff agenda is alive and well, but any new approach will likely take monthsnot daysto materialize. That uncertainty alone could rattle global supply chains that have already been stretched thin. For companies exposed to cross-border tariffs, this isn't just noiseit's strategy-altering. Tesla (NASDAQ:TSLA), which relies heavily on complex global sourcing, could face new cost risks if tariffs return through different legal doors. And industries like steel, autos, and semiconductorssome already caught in prior Section 232 probesmight get pulled back into the spotlight. With a court-imposed June 9 deadline looming and the Supreme Court now in the mix, investors should expect this legal fight to shape not just headlines, but actual trade flows and margin forecasts heading into the second half of 2025. This article first appeared on GuruFocus.
CNBC
a day ago
- Business
- CNBC
A U.S. trade court blocked Trump's tariffs. He's expected to find a workaround
U.S. President Donald Trump is expected to find a workaround after suffering a major blow to a core part of his economic agenda. The U.S. Court of International Trade on Wednesday ruled that the president had overstepped his authority by invoking the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs on numerous countries. The Manhattan-based court not only ordered a permanent halt to most of Trump's tariffs, but also barred any future modifications to them. A panel of three judges gave the White House 10 days to complete the formal process of halting the tariffs. The Trump administration swiftly appealed the ruling. Economists at Goldman Sachs said the White House has a few tools at its disposal that could ensure it is only a temporary problem. "This ruling represents a setback for the administration's tariff plans and increases uncertainty but might not change the final outcome for most major US trading partners," analysts at Goldman Sachs said in a research note. "For now, we expect the Trump administration will find other ways to impose tariffs," they added. The Wall Street bank said the ruling blocks the 10% baseline tariff imposed by Trump on most imports, as well as the additional tariffs on China, Canada and Mexico – but not sectoral tariffs, such as those imposed on steel, aluminum and autos. The Trump administration does have other legal means of imposing tariffs, however, according to Goldman. These include Section 122 of the Trade Act of 1974, Section 301 and Section 338 of the Trade Act of 1930. Section 122 does not require a formal investigation and could therefore be one of the swiftest ways to get around the court roadblock. "The administration could quickly replace the 10% across-the-board tariff with a similar tariff of up to 15% under Sec. 122," analysts at Goldman said. They noted, however, that such a move would only last for up to 150 days after which law requires Congressional action. Trump could also swiftly launch Section 301 investigations on key U.S. trading partners, laying the bureaucratic groundwork for tariffs, although Goldman said that this process will likely take several weeks at a minimum. Section 232 tariffs, which are already in place for steel, aluminum and auto imports, could also be broadened to other sectors, while Section 338 allows the president to impose levies of up to 50% on imports from countries that discriminate against the U.S. Goldman noted that the latter has not been used before. James Ransdell, partner at the law firm Cassidy Levy Kent, said the court opinion marks the first of many other cases still pending — and the first substantive opinion out of federal court "to really address the meat of the plaintiffs challenge." Ransdell said the speed of the Trump administration's appeal was "very unusual" and suggests the government could be working through the night to prepare its motion for an emergency stay of the order. He added that it was "certainly a possibility" that the Supreme Court could end up having the last say. "There is not a lot of precedent on this particular statute and on similar actions by the president so there might be an interest that the Supreme Court has in taking this up," Ransdell told CNBC's "The China Connection" on Thursday. Steven Blitz, chief U.S. economist at TS Lombard, said Trump had a "very good" level of understanding of how to play the courts to get what he wants in terms of playing for time. "The first thing he will probably do is an emergency appeal to the Supreme Court … wanting to get a ruling from them that basically says you can keep these tariffs in place while the appeals process runs through," Blitz said Thursday. "This king-like executive order was always going to, at some point, going to run into the courts … The difference between being a monarchy and being a constitutional democracy is the legal system," he added.
Perth Now
21-05-2025
- Entertainment
- Perth Now
Surprising detail you might have missed as Peppa Pig's mum gave birth to third piglet
Peppa Pig and her little brother, George, have welcomed a little sister as Mummy Pig gives birth to her third piglet. Good Morning Britain revealed the family had welcomed their second daughter, Evie, named after Mummy Pig's aunty, on Tuesday morning UK time ahead of the next season of the hugely popular children's TV cartoon series. Presenter Richard Arnold broke the news saying more than 60 million viewers 'have been following Mummy Pig and the rest of the pig family while they get ready to welcome their new addition'. Evie's birth comes after the surprise pregnancy announcement in February and a gender reveal celebration in London last month. According to Good Morning Britain, Evie arrived at 5.34am in the Lindo Wing of St Mary's Hospital in Paddington, UK. That is the same maternity ward where Catherine, Princess of Wales gave birth to her three children, Prince George, Princess Charlotte, and Prince Louis. The exclusive ward can cost from £5,900 ($A12,301) for just one night, rising to £7,500 ($A15,637) for deluxe packages. 'It's a beautiful thing, she's certainly receiving the royal treatment so far,' Arnold said of the cartoon birth. In posts to the official Peppa Pig social media accounts, Mummy Pig and Daddy Pig also made their 'royal appearance' outside the hospital steps with baby Evie in their arms. The birth was also announced with a town crier scroll-style proclamation as well as a special birth certificate plaque on a pink stand. Arnold said viewers can see Peppa's reaction to her new baby sister in new episodes of the cartoon series due to air in coming months.
7NEWS
21-05-2025
- Entertainment
- 7NEWS
Peppa Pig's mum receives ‘royal treatment' as she gives birth to third piglet
Peppa Pig and her little brother, George, have welcomed a little sister as Mummy Pig gives birth to her third piglet. Good Morning Britain revealed the family had welcomed their second daughter, Evie, named after Mummy Pig's aunty, on Tuesday morning UK time ahead of the next season of the hugely popular children's TV cartoon series. Presenter Richard Arnold broke the news saying more than 60 million viewers 'have been following Mummy Pig and the rest of the pig family while they get ready to welcome their new addition'. Evie's birth comes after the surprise pregnancy announcement in February and a gender reveal celebration in London last month. According to Good Morning Britain, Evie arrived at 5.34am in the Lindo Wing of St Mary's Hospital in Paddington, UK. That is the same maternity ward where catherine, Princess of Wales gave birth to her three children, Prince George, Princess Charlotte, and Prince Louis. The exclusive ward can cost from £5,900 ($A12,301) for just one night, rising to £7,500 ($A15,637) for deluxe packages. 'It's a beautiful thing, she's certainly receiving the royal treatment so far,' Arnold said of the cartoon birth. In posts to the official Peppa Pig social media accounts, Mummy Pig and Daddy Pig also made their 'royal appearance' outside the hospital steps with baby Evie in their arms. The birth was also announced with a town crier scroll-style proclamation as well as a special birth certificate plaque on a pink stand. Arnold said viewers can see Peppa's reaction to her new baby sister in new episodes of the cartoon series due to air in coming months.
The Hindu
29-04-2025
- Business
- The Hindu
U.S. again puts India on 'priority watch list' for alleged IP rights' violations
The U.S. on Tuesday (April 29, 2025) once again placed India on its 'priority watch list', stating that New Delhi remains one of the world's most challenging major economies for the protection and enforcement of intellectual property rights (IPRs). The U.S. Trade Representative's (USTR) 2025 Special 301 report, an annual review of the global state of IPR protection and enforcement, said that over the past year, India has remained inconsistent in its progress on intellectual property protection and enforcement. It said that although India has worked to strengthen its IP regime, including raising public awareness about the importance of the subject, and engagement with the U.S. on IP issues has increased, there continues to be a lack of progress on many long-standing IP concerns. "India remains one of the world's most challenging major economies with respect to protection and enforcement of IP... India remains on the Priority Watch List in 2025," it said. The country had earlier stated that this report is a unilateral measure taken by the U.S. under their Trade Act, 1974 to create pressure on countries to increase IPR protection beyond the TRIPS agreement. Besides, India has maintained that its IPR regime is fully compliant with global trade norms. The report comes in the backdrop of India-U.S. negotiating a bilateral trade agreement to boost two-way commerce to $500 billion by 2030. The U.S. is looking at bridging its trade deficit with India, which was $41.18 billion in 2024-25, through this pact. A trade expert said India has a well established legislative, administrative and judicial framework to safeguard IPR that meets its obligations under the WTO's Agreement on Trade Related IPRs (TRIPS). The concerns identified in the report are based on the inputs provided by the American industry on their perception of the level of protection provided by India to Intellectual Property. The report also said patent issues continue to be of particular concern in India. "Among other concerns, the potential threat of patent revocations and the procedural and discretionary invocation of patentability criteria under the Indian Patents Act impact companies across different sectors. Moreover, patent applicants generally continue to confront long waiting periods to receive patent grants and excessive reporting requirements," the report said. Stakeholders continue to express concerns over vagueness in the interpretation of the Indian Patents Act, it alleged. It added that India maintains high customs duties directed to IP-intensive products such as information and communications technology products, solar energy equipment, medical devices, pharmaceuticals, and capital goods. "While steps to improve IP Office operations and procedures are to be commended, India's overall IP enforcement remains inadequate," it said. It added that the US intends to continue to engage with India on IP matters, including through the trade policy forum's intellectual property working group. The report has listed eight countries, including India in its 'priority watch list'. China, Indonesia, Russia, Argentina, and Venezuela are among others on the list. It has also placed 25 countries, including Pakistan and Turkey, on the list. U.S. Trade Representative (USTR) Jamieson Greer said the USA's trading partners must address the concerns identified in the report and stop those stealing the intellectual property of hard-working businesses and individuals. This annual report details USTR's findings of more than 100 trading partners after research and engagement with stakeholders. Other issues that have been flagged in the report include, concerns over the provision of Section 3(d) of the Patent Act, and pharmaceutical patent disputes.
