A federal appeals court allowed President Trump's sweeping tariffs to temporarily stay in effect, a day after the US Court of International Trade blocked their implementation after deeming the method used to enact them "unlawful."
That means Trump's tariff agenda remains intact, if in flux, in the latest twist in the unfolding legal saga.
Late Wednesday, the trade court voted to block many of Trump's tariffs, including the flat-rate "reciprocal" tariffs aimed at US trade partners, as well as key China-focused duties. The decision left some levies intact, specifically those covering steel, aluminum, and certain Chinese goods.
The US Court of Appeals for the Federal Circuit, which oversees the International Trade Court, granted the Trump administration’s request for a temporary administrative stay. This gives the court time to review legal arguments and filings. The administration must submit its briefings by June 9, after which the court will determine the next steps.
The White House had vowed Thursday to take its appeal to the Supreme Court if necessary.
Administration officials also hinted that court rulings would not be the final say for a president who has based much of his economic agenda on enacting the tariffs. Yahoo Finance's Ben Werschkul has an overview of the other maneuvers Trump could pursue.
Amid the legal chaos, US trade negotiations have apparently continued in earnest this week, with an FT report on Wednesday saying India has offered the US steep tariff cuts but is seeking to retain high duties on some agricultural commodities.
India is not the only trading partner seeking a reprieve. On Wednesday, the EU trade chief Maroš Šefčovič said the European Commission is discussing with the US possible cooperation in sectors such as semiconductors, steel, and aerospace.
Tariff concerns continue to weigh on corporate America. Nvidia ( NVDA ) CEO Jensen Huang said the company plans to manufacture AI chips in the US, but also warned about export controls that limit its ability to ship products to China. This follows Trump's warning that Apple ( AAPL ) would face 25% tariffs if it failed to move iPhone production to the US.
Here are the latest updates as the policy reverberates around the world.
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