Court of International Trade rules unanimously that the President does not have the power under the International Emergency Economic Powers Act to impose tariffs in response to longstanding trade deficits:
https://www.axios.com/2025/05/28/trump-tariffs-trade-court-ruling
There has to be a way to shut them down like the Voice of America.
intercst
Speaker Johnson said Congress had authority to defund courts as it pleased. But, getting a bill through Congress to defund that court would probably take longer than passing a bill giving the POTUS authority to impose taxes at his whim.
And, on bubblevisionâs site:
Dow futures jump 400 points as court blocks Trump tariffs,
I, however, am in a situation. I took positions in Ford Motor and Whirlpool, based on expectations of those companies using the tariff protection to gouge the living daylights out of customers, like Whirlpool did the last time TIG gave them tariff protection.
The article on bubblevisionâs site does not make clear whether the ruling is with immediate effect, or if the regime will seek a stay, pending appeal to SCOTUS, in a year or so.
Steve
That is great news ! And before Trump and the rest of them start whining about leftist judges, 1 of the judges was a Trump appointee.
There are other means availableâŚ
Each of these sections provides a legal mechanism for the executive branch to unilaterally adjust U.S. trade policy, often without needing congressional approval.
So the courts ruled on what we all knew was not Constitutional. Time to put the Grand Boopah in his place according to the Constitution.
As I was saying. @albaby1
I thought courts took forever, maybe this court is not so busy until perhaps this year.
Congress apparently does not need to act, if the US International Trade Commission finds that foreign competition is âdumpingâ. That is what happened in 2017. Two years after Whirlpool filed a complaint, the Commission agreed, on January 10, 2017. TIG then imposed protectionist tariffs against the two Korean companies named in Whirlpoolâs complaint: Samsung and LG, a year later.
Other times, the ITC moves faster. The Steelworkerâs union filed a complaint against Chinese vehicle tires with the ITC in April 2009. The ITC found that Chinese tires did threaten the US tire industry, and President Obama imposed protectionist tariffs on Chinese tires in September of the same year.
So, Iâm not sure how this is going to shake out for Whirlpool and Ford. They will need to file individual complaints with the ITC, against their foreign competition. A decision will be rendered, in months, or years, giving the POTUS authority to impose tariffs.
Steve
âNow would be a good time to buy.â
âNow would be a good time to buy.â
I constantly heard bubblevision talking heads, asking the dumbest question in the world âis now a good time to buy?â, to a person who made his living selling the product in question.
Steve
The court ordered a window of 10 calendar days for administrative orders âto effectuate the permanent injunction.â That means the bulk â but not all â of Trumpâs tariffs would be put in a standstill if the ruling holds up in appeal and, potentially, with the Supreme Court.
If the administration pleases to follow court orders, a disclaimer one has to make these days.
Gary Clyde Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics, called it a âsurprising and spectacular decision.â âThe reason itâs a surprise is that if you look at past cases where plaintiffs have tried to challenge the presidential use of extraordinary authority under various laws, the plaintiffs have always lost against the government,â Hufbauer said in an interview with CNN. âAll the president had to do was say, ânational security,â or ânational emergency.â Those are magic words.â
So sweeping tariffs across the globe might be out, to be replaced, if any, by more selective ones - forcing the administration to actually work through details, which we know they donât like that much.
yada yada yada
The real question with the futures up in early morning tradingâŚwhat do the conservatives who have been buy, buy, buy do? Is it time for them to sell, sell, sell?
Seeing as they are an alien species to me, I do not have an answer.
Dow 30 futures currently up about 200. Last night, they were up 500.
Do bubblevision talking heads ever say anything but âbuyâ? There has been a narrative, by some, saying the tariffs will cause a recession. That narrative may not work so well now.
Steve
TIG might be able to make a case for the sector tariffs he wants: steel, aluminum, cars and car parts, and appliances, tho I have not heard appliances mentioned specifically. Those industries still have a significant footprint in the US. There is not much in the way of clothing, consumer electronics, or toy industries in the US to protect, so the ITC would have a hard time finding justification for protectionist tariffs.
Of course, we have been told the tariff revenue will be used to cover a tax cut. I canât imagine the (L&Ses) giving up another âJCâ tax cut, so, without the tariff revenue, deficits grow even more.
Steve
NVDA ER yesterday after the close.
Hereâs the best description I heard by the talking heads.
raplh
This is much bigger than just a reversal of tariffs via court order. Since Congress is AWOL and has completely shirked itâs responsibilities, this court decision is the 1st big sign that Trump isnât going to be able to make a mockery out of the Constitution, and the Federal Government. Theyâll appeal, of course.
I donât have the link in front of me to cite a number, but Trump is getting thrashed in the courts. Itâs pretty hilarious reading his rage comments about the judges, when he in fact appointed one of them.. But that also makes sense, as Trump raged about the idiots who signed trade agreements, when Trump was that person,lol.
Iâm actually feeling a little bit of optimism this morning, lol.
But heâs got 44 more months to go, so still an avalanche of dubious decisions to come.
Ah-hah!
The ruling does leave in place other Trump tariffs, including those on foreign steel, aluminum and autos. But those levies were invoked under a different law that required a Commerce Department investigation and could not be imposed at the presidentâs own discretion.
So, the car tariffs stand. By the time a court rules on them, Lutnickâs staff will have been able to manipulate the question to obtain the AI generated answer they want. It only took a few months for Obamaâs administration to whack Chinese tires.
Steve
Ralph,
Here is to hope. Donât leave home without it or the aliens will carry you off.
Meanwhile the aliens are about to take over Wall and Main.
If only we did not have illegal Marsians. Am I asking a lot?
And one was a Reagan appointee.
The irony in all of this is the fact that of course the court order does nothing with the retaliatory tariffs other countries have imposed.
Even if there is not a stay issued allowing the tariffs to continue during the appeal, I donât imagine many other countries are going to undo their punishment in the meantime.
Subconsciously Trump does not believe in the USA having a thriving economy. So it fits the master plan.