- President Donald Trump suffered a stunning legal defeat on Wednesday after a federal court invalidated the extensive tariffs he rolled out in early April on “Liberation Day.” The tariff announcement—broader and more aggressive than expected—sent stock markets into a spiral and bond markets into the yips. In response to the ruling, White House spokesman Kush Desai said “unelected judges” should not decide how to address a national emergency.
The United States Court of International Trade rule ruled on Wednesday that President Donald Trump did not have authority to “impose unlimited tariffs on goods from nearly every country in the world” and blocked Trump’s prized tariff program.
