Reciprocal Tariffs Lose At Appeals Court, Battle Moves To Supreme Court

On Friday, the U.S. Court of Appeals for the Federal Circuit issued a major ruling on the scope of presidential tariff authority. In a 7–4 decision, the court found that former President Trump exceeded his powers under the International Emergency Economic Powers Act (IEEPA) when he declared trade deficits a “national emergency” and used that declaration to impose sweeping tariffs […]