Trump to Appeal Trade Court Ruling Blocking Proposed Tariffs — Emergency Meeting Set
Donald Trump said he will request the U.S. Supreme Court expedite review of a tariffs case, warning that allowing lower-court rulings to stand would be economically damaging.
Summary
Donald Trump announced plans to ask the U.S. Supreme Court to fast-track a ruling in a global tariffs case after lower courts declared several tariffs illegal. He stated the administration would file its appeal as early as Wednesday and cautioned that letting the appeals court decision remain would be "devastating." Trump linked recent stock market declines to the necessity of tariffs, while market analysts attributed the downturn to corporate bond issuance and concerns about developed-nation budgets.
Terms & Concepts
- Tariff: A government-imposed tax on imported or exported goods; Trump’s proposed tariffs were blocked by a trade court.
- Appeals Court: A higher court that reviews lower-court decisions; the administration asked it to suspend the trade court ruling.
- Supreme Court: The highest U.S. judicial body; Trump’s team hopes it will overturn the ruling.