Listeners:
Top listeners:
-
play_arrow
Shares Rise After Court Halts Trump Tariffs
By Stefan J. Bos, Chief International Correspondent Worthy News
SYDNEY/JAKARTA (Worthy News) – Asian shares and Wall Street futures jumped in Asia on Thursday after a U.S. federal court blocked President Donald J. Trump’s “Liberation Day” tariffs from going into effect, sending the dollar up on safe-haven currencies.
The little-known Manhattan-based Court of International Trade ruled that Trump overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy.
The White House quickly appealed the decision and could take it to the Supreme Court if needed, but traders and analysts said it offered “hope” that Trump might back away from the highest tariffs.
The S&P 500 Futures jumped 1.6%, while Nasdaq 100 Futures rallied as much as 2% on aftermarket gains in tech stocks. That trading suggested significant shares could further rise when the U.S. stock market opens later in the day.
Analysts also suggested that the court ruling could increase uncertainty over Trump’s tariffs and encourage investors to return to stocks.
“It’s long been suggested that the emergency powers Trump has used to implement tariffs were unconstitutional and that the power to enact tariffs sits with Congress,” said Kyle Rodda, a senior financial analyst at online trading platform Capital.com.
TRADE DEALS UNDERMINED?
“Should the markets get their way, the courts could delay and then deny these tariffs, removing one massive risk and undoubtedly stoking risk appetite,” Rodda stressed in published remarks.
Capital Economics analysts added that “The ruling will obviously throw into disarray the administration’s push to quickly seal trade “deals” during the 90-day pause from tariffs that have now been declared to be illegal.”
The U.S. dollar rallied following the court’s order, surging against currencies such as the euro, yen, and the Swiss franc in particular.
There was less cheering within the Trump administration as the ruling, if it stands, blows a giant hole through the president’s strategy to use steep tariffs to wring concessions from trading partners.
“It creates deep uncertainty around multiple simultaneous negotiations with the European Union, China and many other countries,” commented Reuters news agency.
Trump has promised Americans that the tariffs would bring manufacturing jobs back to U.S. shores and shrink a $1.2 trillion U.S. goods trade deficit, among his central campaign promises.
NO LEVERAGE?
Analysts said that without the instant leverage provided by tariffs of 10% to 54% or higher, the Trump administration would have to find new forms of leverage or take a slower approach to negotiations with trading partners.
However, “The court does not pass upon the wisdom or likely effectiveness of the President’s use of tariffs as leverage,” the three-judge panel said in the decision to issue a permanent injunction on the blanket tariff orders issued by Trump since January.
“That use is impermissible not because it is unwise or ineffective, but because [federal law] does not allow it,” they explained.
The court was not asked to address some industry-specific tariffs Trump has issued on automobiles, steel, and aluminum using a different statute.
The decisions of the Manhattan-based Court of International Trade, which hears disputes involving international trade and customs laws, can be appealed to the U.S. Court of Appeals for the Federal Circuit in Washington, D.C., and ultimately the U.S. Supreme Court.
Copyright 1999-2026 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
Latest News from Worthy News
Senate Majority Leader John Thune is moving toward a standalone renewal of Section 702 of the Foreign Intelligence Surveillance Act, setting up a sharp Republican divide with President Donald Trump, who has demanded that any FISA extension be paired with his election integrity legislation.
U.S. President Donald Trump sharply criticized Israel’s handling of its campaign against Hezbollah on Tuesday, saying Syria should take a larger role in confronting the Iran-backed terror group if Israel cannot do the job without causing broader destruction.
U.S. President Donald Trump said Tuesday that the emerging agreement between Washington and Tehran has been “successful” and is now moving into a “second stage,” while warning that Iran will never be permitted to obtain nuclear weapons.
CIA Director John Ratcliffe warned senior U.S. officials, including President Donald Trump, that American intelligence had gathered evidence raising serious doubts about Iran’s willingness to make meaningful concessions on its nuclear program, according to an Axios report citing three sources familiar with the matter.
Vice President JD Vance on Monday denied that American taxpayers would finance a reported $300 billion reconstruction fund for Iran, saying any such assistance would come from Gulf nations and only if Tehran fulfills strict commitments to end its nuclear weapons ambitions.
Major League Baseball has warned several San Francisco Giants players after they wrote Bible verse references on their hats during the team’s recent Pride Night, according to The Athletic.
Federal agents have disrupted a chilling alleged terror plot targeting UFC Freedom 250, held Sunday night on the White House South Lawn — coinciding with President Trump’s 80th birthday weekend. As of Monday, five individuals were in custody, with 23 people identified as part of a broader suspected network.
WHO WE ARE
The Psalms, hymns, and spiritual songs encapsulate the beauty, wisdom, and eternal truths found in the Bible, creating an immersive experience that resonates with believers and seekers alike.
CONTACT
- +1 908 280-4246
- Essex County, USA
- info@tnjrfm.com