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U.S. court rules that Trump's 10% global tariffs are invalid
Golden Finance reports that on May 8th, the U.S. Trade Court ruled on Thursday that the 10% tariff measures recently implemented by U.S. President Trump are invalid, as this tariff increase lacks justification. The U.S. Supreme Court ruled on February 20th of this year that the large-scale tariff measures implemented by the Trump administration under the International Emergency Economic Powers Act lack clear legal authorization. After the ruling was announced, Trump, on the same day, announced the imposition of a “global import tariff” of 10% on goods from all countries and regions, based on Section 122 of the Trade Act of 1974, for a period of 150 days. (Jin10)