Trade Haven Hub - Investing and Stock News
  • Investment Tips
  • Trade Tips
  • Crypto News
  • Economy News
  • Stock Market
  • Investment Tips
  • Trade Tips
  • Crypto News
  • Economy News
  • Stock Market
No Result
View All Result
Trade Haven Hub - Investing and Stock News
No Result
View All Result
Home Economy News

Trump tariff plan faces uncertain future as court battles intensify

admin by admin
May 31, 2025
in Economy News
0
Trump tariff plan faces uncertain future as court battles intensify
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

A federal appeals court paused a lower ruling blocking President Donald Trump’s sweeping tariffs, siding with the administration Thursday in a legal fight over the White House’s use of an emergency law to enact punishing import taxes. 

The back-and-forth injected more volatility into markets this week after several weeks of relative calm, and court observers and economists told Fox News Digital they do not expect the dust to settle any time soon. 

Here’s what to know as this litigation continues to play out.

What’s happening now?

The U.S. Court of Appeals for the Federal Circuit temporarily stayed a lower court ruling Thursday that blocked two of Trump’s sweeping tariffs from taking force.

The ruling paused a decision by the U.S. Court of International Trade (CIT) allowing Trump to continue to enact the 10% baseline tariff and the so-called ‘reciprocal tariffs’ that he announced April 2 under the International Emergency Economic Powers Act, or IEEPA.

It came one day after the U.S. Court of International Trade ruled unanimously to block the tariffs.

Members of the three-judge panel who were appointed by Trump, former President Barack Obama and former President Ronald Reagan, ruled unanimously that Trump had overstepped his authority under IEEPA. They noted that, as commander in chief, Trump does not have ‘unbounded authority’ to impose tariffs under the emergency law. 

Now, lawyers for the Trump administration and the plaintiffs are tasked with complying with a fast schedule with deadlines in both courts. Plaintiffs have until 5 p.m. Monday to file their response to the Court of International Trade, according to Jeffrey Schwab, senior counsel and director of litigation of the Liberty Justice Center, which represents five small businesses that sued the administration. 

The Court of Appeals for the Federal Circuit gave plaintiffs until Thursday to file a response to the stay and the Trump administration until June 9 to file a reply, Schwab told Fox News Digital in an interview. 

The goal is to move expeditiously, and lawyers for the plaintiffs told Fox News they plan to file briefs to both courts before the deadlines to mitigate harm to their clients.

‘Hopefully,’ Schwab said, the quick action will allow the courts to issue rulings ‘more quickly than they otherwise would.’

What’s at stake?

The Trump administration praised the stay as a victory.

The appellate court stay on the CIT ruling ‘is a positive development for America’s industries and workers,’ White House spokesman Kush Desai said in a statement.

‘The Trump administration remains committed to addressing our country’s national emergencies of drug trafficking and historic trade deficits with every legal authority conferred to the president in the Constitution and by Congress.’

But some economists warned that continuing to pursue the steep tariffs could backfire. 

The bottom line for the Trump administration ‘is that they need to get back to a place [where] they are using these huge reciprocal tariffs and all of that as a negotiating tactic,’ William Cline, an economist and senior fellow emeritus at the Peterson Institute for International Economics, said in an interview. 

Cline noted that this had been the framework laid out earlier by Treasury Secretary Scott Bessent, who had embraced the tariffs as more of an opening salvo for future trade talks, including between the U.S. and China. 

‘I think the thing to keep in mind there is that Trump and Vance have this view that tariffs are beautiful because they will restore America’s Rust Belt jobs and that they’ll collect money while they’re doing it, which will contribute to fiscal growth,’ said Cline, the former deputy managing director and chief economist of the Institute of International Finance.

‘Those are both fantasies.’

What happens now?

Plaintiffs and the Trump administration wait. But whether that wait is a good or bad thing depends on who is asked.

Economists noted that the longer the court process takes, the more uncertainty is injected into markets. This could slow economic growth and hurt consumers. 

For the U.S. small business owners that have sued Trump over the tariffs, it could risk potentially irreparable harm.

‘Some of the harm has already taken place. And the longer it goes on, the worse it is,’ said Schwab. 

The White House said it will take its tariff fight to the Supreme Court if necessary. But it’s unclear if the high court would choose to take up the case.

The challenge comes at a time when Trump’s relationship with the judiciary has come under increasing strain, which could make the high court wary to take on such a politically charged case. 

Lawyers for the plaintiffs described the case as ‘very likely’ to be appealed to the Supreme Court, but it’s unclear whether it will move to review it.

‘It’s possible that because the case is before the Federal Circuit Court of Appeals, which essentially applies to the country, unlike specific appellate courts, which have certain districts, that the Supreme Court might be OK with whatever the Federal Circuit decides and then not take the case,’ Schwab said. 

For now, the burden of proof shifts to the government, which must convince the court it will suffer ‘irreparable harm’ if the injunction remains in place, a high legal standard the Trump administration must meet.

Congress has deferred to presidents on tariffs, says Jonathan Turley

Beyond that, Schwab said, the court will weigh a balancing test. If both sides claim irreparable harm, the justices will ask, ‘Who is irreparably harmed more?

‘And I think it’s fair to say that our clients are going to be more irreparably harmed than the United States federal government. Because our clients might not exist, and the United States federal government is certainly going to exist.’

This post appeared first on FOX NEWS
Previous Post

Who will be Elon’s successor? The top names in line for DOGE chief

Next Post

NYC Comptroller Rejects Mayor Adams’s “Bitbond” Proposal as Legally and Fiscally Flawed

Next Post
NYC Comptroller Rejects Mayor Adams’s “Bitbond” Proposal as Legally and Fiscally Flawed

NYC Comptroller Rejects Mayor Adams’s “Bitbond” Proposal as Legally and Fiscally Flawed

  • Trending
  • Comments
  • Latest
On air, ’60 Minutes’ reporter says ‘none of us is happy’ about changes that led top producer to quit

On air, ’60 Minutes’ reporter says ‘none of us is happy’ about changes that led top producer to quit

April 28, 2025
Crypto Market Recap: Grayscale Debuts New Bitcoin Product, Tether Announces US Expansion

Crypto Market Recap: Grayscale Debuts New Bitcoin Product, Tether Announces US Expansion

May 1, 2025
Pepe Price Climbs 43% With Only 21 Days Left to Buy MIND of Pepe Cheap, Nearly $9m Raised 

Pepe Price Climbs 43% With Only 21 Days Left to Buy MIND of Pepe Cheap, Nearly $9m Raised 

May 9, 2025
Bitcoin Price Prediction: At $103,688 BTC Shows Unstoppable Weekly Growth of 7.6% – Could We See a New All-Time High Before June?

Bitcoin Price Prediction: At $103,688 BTC Shows Unstoppable Weekly Growth of 7.6% – Could We See a New All-Time High Before June?

May 10, 2025
SEC Challenges ETF Status of Proposed Staked Solana and Ether Funds

SEC Challenges ETF Status of Proposed Staked Solana and Ether Funds

0
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

0
Quantum Computing: its Evolution and its Potential Future

Quantum Computing: its Evolution and its Potential Future

0
Air Direct Capture – Reducing CO2 from the Atmosphere

Air Direct Capture – Reducing CO2 from the Atmosphere

0
SEC Challenges ETF Status of Proposed Staked Solana and Ether Funds

SEC Challenges ETF Status of Proposed Staked Solana and Ether Funds

June 1, 2025
BitMEX Uncovers Security Flaws in North Korea’s Lazarus Group Operations

BitMEX Uncovers Security Flaws in North Korea’s Lazarus Group Operations

June 1, 2025
Editor’s Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout

Editor’s Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout

June 1, 2025
Trump warns Rand Paul he’s playing into ‘hands of the Democrats’ with ‘Big, Beautiful Bill’ opposition

Trump warns Rand Paul he’s playing into ‘hands of the Democrats’ with ‘Big, Beautiful Bill’ opposition

June 1, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    SEC Challenges ETF Status of Proposed Staked Solana and Ether Funds

    SEC Challenges ETF Status of Proposed Staked Solana and Ether Funds

    June 1, 2025
    BitMEX Uncovers Security Flaws in North Korea’s Lazarus Group Operations

    BitMEX Uncovers Security Flaws in North Korea’s Lazarus Group Operations

    June 1, 2025
    Editor’s Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout

    Editor’s Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout

    June 1, 2025
    Trump warns Rand Paul he’s playing into ‘hands of the Democrats’ with ‘Big, Beautiful Bill’ opposition

    Trump warns Rand Paul he’s playing into ‘hands of the Democrats’ with ‘Big, Beautiful Bill’ opposition

    June 1, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 tradehavenhub.com | All Rights Reserved

    No Result
    View All Result
    • Investment Tips
    • Trade Tips
    • Crypto News
    • Economy News
    • Stock Market

    Copyright © 2025 tradehavenhub.com | All Rights Reserved