Here Comes the Judge: U.S. Trade Court Shoots Down the Trump Tariffs
Risk on sentiment surges as court blocks Trump’s tariffs…
Highlights
• Risk on sentiment surges as court blocks Trump’s tariffs…
• … casting doubts on future trade deals and investments
• Lofty interest payments are draining Canadians' spending power
• Home prices fall on depressed demand as rates stay high
Key Takeaways
• Court Strikes Down Trump’s Move: The big news overnight was the U.S. trade court ruling against much of the Trump tariff file, including the 10% baseline levy. Mr. Trump was deemed to have surpassed his presidential authority under the emergency provisions regarding foreign trade (essentially, this lower court ruled that the White House had wrongfully used an emergency law to lower this tariff boom on America’s trading partners).
