Another twist to the back-and-forth, up-and-down tale of tariffs: A US court has just ruled that President Trump doesn't have the right to impose the 'liberation day' tariffs. But before we get our pint glasses ready to cheer for computer hardware prices, and to burst a bubble before it inflates too much, note that this ruling doesn't apply to semiconductors and other such sector-specific tariffs.
According to Reuters, the US Court of International Trade has blocked most of Trump's tariffs by ruling against his use of the International Emergency Economic Powers Act to justify them. Trump had used this act to claim the new tariffs were justified under national security.
