A Federal appeals court temporarily blocked a ruling from the Court of International Trade that barred most of the Trump administration’s sweeping tariffs on global trading partners. The legal development reignited uncertainty, sparking renewed sell-offs in US stock markets. However, European markets rose on Friday afternoon despite the reinstatement.
The decision provides the White House with additional time to defend the legality of the president’s efforts to reshape global trade relations. Federal officials signalled that the same level of import levies could be reintroduced under alternative legal authorities, although enacting tariffs via other sections of the Trade Act could take several months.
