Recently, a US court ruling seemed to provide a temporary suspension of President Trump's tariffs on imports, which could have aided the EU and global economy. However, an appeals court reinstated these tariffs shortly after, complicating trade relations further. This ongoing situation highlights a legal battle over trade policy powers between the president and Congress. As a result, while there was initial optimism among EU officials, the focus has shifted back to negotiations with the US, indicating ongoing uncertainties in international trade dynamics.
"The little-known US Court of International Trade in New York struck down the blanket baseline 10% tariffs on virtually all goods imported into the US, arguing that Trump had overstepped his presidential powers."
"But within hours, there was a fresh plot twist: an appeals court suspended that order too, essentially reinstating the tariffs for the time being, raising further uncertainty for international trade."
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