Financial markets celebrated a U.S. court decision that blocks President Trump's tariff increases under the International Emergency Economic Powers Act. U.S. futures surged, and oil prices rose following the ruling, which found Trump's use of the law to impose tariffs unsupported. Though the White House has appealed, and uncertainty lingers over trade policy, investors seemed relieved after a long period of turmoil from the trade war. The ruling affected global markets, with the dollar strengthening against key currencies and indices reporting gains across the board.
The court ruled that the 1977 International Emergency Economic Powers Act does not authorize the use of tariffs, blocking Trump’s proposed increases.
Financial markets reacted positively as the ruling brought relief after months of turmoil caused by Trump's trade war, with futures and oil prices surging.
Investors displayed renewed optimism as the long-term outcome of ongoing legal disputes over tariffs remains uncertain, negatively impacting global economic outlook.
The appeal by the White House raises questions about whether Trump will comply with the ruling while his tariff policies continue to generate uncertainty.
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