A court in the United States ruled unconstitutional duties imposed by Trump🧑‍⚖️

A federal court in New York banned Donald Trump from imposing large-scale trade duties under the emergency law. The court's decision states that such measures are "unconstitutional" and can no longer be applied. We are talking about almost all the duties introduced by the Trump administration earlier.

The Court stressed that under the Constitution, the power to regulate foreign trade belongs exclusively to Congress, and not to the President. Furthermore, the Court did not recognize the existence of any national state of emergency that could justify such measures. The Trump administration has already filed an appeal.

This was the first major legal setback for Trump's so-called "exemption fees," which were sued by five small American companies.

In addition, on the same day, the court declared illegal the cancellation of the humanitarian stay program for hundreds of thousands of migrants.

#Trump #Tariffs #Court

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📱 Old Glory Vortex 🇺🇸

Wall Street investors have spotted one of president Donald Trump's tendencies and have started betting against him.

They've even come up with a derogatory term – "TACO," and acronym for "Trump Always Chickens Out" – for the president's erratic handling of his on-again, off-again tariffs, because they've noticed his tendency to announce punishing duties that send markets into the tank, only to back off a short time later and goose the market, reported HuffPost.

"The recent rally has a lot to do with markets realizing that the U.S. administration does not have a very high tolerance for market and economic pressure, and will be quick to back off when tariffs cause pain,"

wrote Financial Times commentator Robert Armstrong, who is credited with coining the term earlier this month.

"This is the Taco theory: Trump Always Chickens Out."

“Under no previous presidency did we have active markets betting on the president’s resolve,”

said University of Michigan economist Justin Wolfers.

“There was no BACO trade, no CACO trade – nothing. It was always taken as a given that when the president spoke on Monday, he would likely still mean it on Tuesday. That’s no longer true. But what’s really hard is that it’s not even obvious when it’ll be true, and when it won’t be. Madness.”

#Trump #markets

👂 More on Trump's Ear ⚠️