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Time of India
7 days ago
- Business
- Time of India
Is Trump's trade policy in turmoil? What happens to his tariffs now that the court has struck them down?
The US Court of International Trade 's decision to block the tariffs that US president Donald Trump imposed under the International Emergency Economic Powers Act (IEEPA) on imports from almost every country in the world 'throws the president's trade policy into turmoil,' according to a former US trade official, as per a report. Uncertainty for Trade and Supply Chains An ex-US trade official who is now vice president at the Asia Society, Wendy Cutler said, 'Partners negotiating hard during the 90-day tariff pause period may be tempted to hold off making further concessions to the U.S. until there is more legal clarity,' quoted AP. ALSO READ: What is TACO Trade? The term that angers Donald Trump every time it's mentioned According to the report, even companies would have to reassess the way they operate their supply chains, perhaps "speeding up shipments to the United States to offset the risk that the tariffs will be reinstated on appeal," wrote AP. Court Rules Against Donald Trump's Emergency Tariffs A federal court with a three-judge panel gave the verdict that the US president overstepped his authority as he invoked the 1977 International Emergency Economic Powers Act to declare a national emergency and justify his high tariffs, reported AP. Live Events ALSO READ: As U.S. court blocks tariffs, here are ways Donald Trump could find a workaround after suffering a major blow Trump's tariffs have been challenged in at least seven lawsuits, and in the recent ruling, the trade court combined two of the cases, one brought by five small businesses and another by 12 US states, as reported by AP. A professor of trade policy at Cornell University, Eswar Prasad, highlighted that "For now, the trade court's ruling destroys the Trump administration's rationale for using federal emergency powers to impose tariffs, which oversteps congressional authority and contravenes any notion of due process,' quoted AP. Prasad also mentioned, 'The ruling makes it clear that the broad tariffs imposed unilaterally by Trump represent an overreach of executive power," as quoted in the report. FAQs What does this mean for presidential powers? The ruling limits how far a president can go in using emergency powers to reshape trade policy without Congress. Are all of Trump's tariffs now blocked? No. The ruling affects broad-based tariffs imposed under IEEPA, but steel, aluminum, and auto tariffs based on national security reviews remain intact.
India Today
26-05-2025
- Politics
- India Today
Fact Check: Old video of Tharoor bashing Trump goes viral as his delegation visits US
Congress MP Shashi Tharoor is leading an all-party Parliamentary delegation to five countries to brief the world on India's response to the April 22 Pahalgam terror attack and its broader fight against terrorism. The delegation has visited the United States and Guyana, and will travel to Panama, Brazil, and Colombia soon.A video now going viral purports to show Tharoor taking a dig at US President Donald Trump during an event in New York. Congress Rajya Sabha MP Digvijaya Singh shared this clip, writing: 'A wise person once said- A diplomat is a person who tells you to go to hell in such a way, that you actually start looking forward to the trip. That's the class of Shashi Tharoor. He can sit in the US and take POTUS to the cleaners with a smile.'advertisement In the video, Tharoor says that while he 'shouldn't be commenting on political leaders in foreign countries on their soil', his personal manner struck him as 'not entirely as agreeable or pleasant as one would like to see in a distinguished American political figure'. He says that he had met four or five US presidents — from both parties there — who had a certain 'political heft, statesman-like gravitas, and intellectual quality that I find woefully lacking in this gentleman'. India Today Fact Check found that while Tharoor was indeed talking about Trump, this video is from September 2024, when the MP was speaking at the Jaipur Literature Festival in New ProbeReverse-searching frames from the video led us to an Instagram post dated September 24, 2024. This makes it clear that this video long predates the all-party delegation visiting the Americas right now. advertisement View this post on Instagram A post shared by Asia Society Museum (@asiasociety)We then found the full talk on the YouTube channel of the Asia Society, an American organisation that focusses on educating the world about Asia. The video's description noted that this talk was from September 10, 2024, at the Jaipur Literature Festival in New was also shared on the Asia Society's official website. At the event, India Today Group Chairman and Editor-in-Chief Aroon Purie spoke to Tharoor on various issues regarding Indian and American politics. The viral clip can be seen around the 12-minute-40-second mark, when Aroon Purie asks Shashi Tharoor, 'What do you think about Trump?' The day after the event, on September 11, 2024, the official accounts of the Jaipur Literature Festival, Asia Society, and Shashi Tharoor shared various photos from the talk on Instagram. View this post on Instagram A post shared by JLF International (@jlfinternational)It's noteworthy that at the time, the president of the US was Joe did Tharoor say in the US now?On Saturday, May 24, Tharoor spoke at an interaction hosted by the Consulate General of India in New York for a select group of prominent members of the Indian-American community. There, he said that the time had come to set a "new bottom line" in India's dealings with have tried everything — international dossiers, complaints, everything has been tried," he said, adding that Pakistan had remained in denial, with "no convictions, no serious criminal prosecutions, and no genuine attempt to dismantle" its terror full address can be seen below: Thus, it's clear that the viral clip of Shashi Tharoor taking a dig at Donald Trump is not recent and was made when Joe Biden was the US Watch Want to send us something for verification? Please share it on our at 73 7000 7000 You can also send us an email at factcheck@
South China Morning Post
25-05-2025
- Business
- South China Morning Post
Truth in the truce: Wendy Cutler mulls if US-China trade can find lasting peace
Wendy Cutler comes from a three-decade career in shaping US trade policy. She worked in the Office of the US Trade Representative from 1988 to 2015 before moving into the think tank space. Today, she is vice-president of the Asia Society Policy Institute. Advertisement Cutler uses this accumulated experience to offer a view on the fractious US-China trade relationship at a time when trade ties remain tense despite landmark talks between the two powers, followed by a sharp reduction in tariffs, earlier this month. This interview first appeared in SCMP Plus. For other interviews in the Open Questions series, click here With China and the US agreeing to a truce, what steps do you expect the two sides to take next so they can lock in a tariff-free deal within 90 days? What will top the two sides' agendas, and how likely are they to reach a lasting agreement? The US-China tariff truce, announced earlier this month, exceeded expectations with each side lowering its tariff rates by 115 per cent for a 90-day period. The tariffs were taking a serious toll on both economies and ultimately led both sides to the negotiating table. But 90 days is an extremely short window to find landing zones on outstanding issues of concern. Advertisement Accordingly, we should expect more ups and downs in bilateral relations in the coming months. It appears that progress is already being made to address US concerns on fentanyl. However, with respect to other matters of concern to the US, like excess capacity, subsidies and transshipments, negotiators will face enormous challenges finding common ground, particularly in a three-month period.
South China Morning Post
22-05-2025
- Business
- South China Morning Post
US and China must continue talks, avoid ‘economic nationalism': former top diplomat
A former top South Korean diplomat has urged China and the United States to push ahead with negotiations to inject stability into their relationship, warning that economic nationalism would bring harm to the world. Kang Kyung-wha, who served as South Korea's foreign minister from 2017 to 2021, told a forum in Beijing on Thursday that the China-US trade deal reached earlier this month after a series of tit-for-tat tariff increases was welcomed by countries around the world. 'But for this to be more than a temporary reprieve, the two sides must continue to negotiate and act to provide stability and predictability in the bilateral relationship,' she said. On May 12, Beijing and Washington announced they had agreed to remove the bulk of tariffs for a 90-day period following trade negotiations in Geneva, but trade frictions have remained high. In what was a rather gloomy assessment, Kang, who is now president of the Asia Society, said the world was grappling with turbulence and uncertainty, and that 'long-accepted assumptions and beliefs about the global order are under assault'. 'Globalisation and multilateralism seemed like an inevitable historical force, lifting all boats in its path. Markets opened, people moved, ideas flowed … But today, the currents that once drove globalisation seem to have been overtaken by the forces of fragmentation,' she said. 'Security concerns and trade tensions have dampened the aspirations towards an interdependent world where all would enjoy peace and prosperity.'
Daily Maverick
16-05-2025
- Business
- Daily Maverick
UK names son of ex-Hong Kong governor as ambassador to China
Britain named the son of a former governor of Hong Kong as its new ambassador to China on Friday, weeks before London is due to release an audit of its relations with Beijing. Peter Wilson, a Mandarin speaker, is a senior diplomat who has held the posts of ambassador to Brazil and the Netherlands, director general for Europe at the foreign office and principal private secretary to the prime minister under Boris Johnson. Reuters first reported his selection as future ambassador to China in February. His father David Wilson was governor of Hong Kong, then a British colony, from 1987-1992. 'For my country, China has always been as much an opportunity as a threat, and I think that remains true today,' Peter Wilson told a panel at the Asia Society in 2017. Britain's Labour government aims to boost diplomatic engagement with China after years of tensions under previous Conservative governments over human rights, Hong Kong and restrictions on investment. Prime Minister Keir Starmer has also been pursuing post-Brexit trade deals to boost a stagnant economy. He struck a tariff-lowering deal with U.S. President Donald Trump last week, cast by Beijing as a move that could squeeze Chinese products out of Britain. Preparations are being made for Starmer to visit China this year, Reuters has reported, the first such visit by a British leader since 2018. An audit which Starmer's government says will be the first in-depth appraisal of Britain's relationship with China is expected to be released in early June, according to sources.
