From 30m ago US trade court blocks Trump’s tariffs A federal trade court on Wednesday blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law. The ruling from a three-judge panel at the New York-based court of international trade came after several lawsuits arguing Trump has exceeded his authority, left US trade policy dependent on his whims and unleashed economic chaos. “The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs,” the court ruled,…
Tag: US taxation
The Guardian view on Trump’s leftward lurch: the ‘lunatics’ are running the right | Editorial
It’s striking to see Donald Trump, who built his re-election campaign around attacking the “radical left”, now borrowing some of its economic policies. In just months, he has shifted from denouncing “communist” price controls to saying he would implement them, and from defending tax breaks for the wealthy to proposing tax increases on those earning more than $2.5m a year if it benefits poorer Americans. These moves echo longstanding proposals from progressives like Bernie Sanders – despite Mr Trump’s past efforts to portray such ideas as “lunatic”. The irony is hard…