Court blocks Trump tariffs.... What now?

TRADE NEWS

Court Overturns Trump-Era Tariffs

On May 28, the U.S. Court of International Trade ruled that President Donald Trump exceeded his legal authority by imposing global tariffs under the International Emergency Economic Powers Act (IEEPA). The court found that the IEEPA does not permit the president to implement broad tariff measures without clear connection to the national emergency cited, and that such actions remain within the jurisdiction of Congress under the Constitution.

The ruling addressed the “Liberation Day” tariffs introduced in April, which applied a duty on a wide range of imports and targeted several countries including China, Canada, and Mexico. A panel of three judges concluded that the tariffs went beyond what the law allows and did not directly address the threats stated in the executive orders.

The lawsuit was brought by the Liberty Justice Center on behalf of five import businesses and is one of several legal challenges to the administration’s trade policy. Thirteen U.S. states and other trade groups have filed similar actions.

Within minutes of the decision, the Trump administration lodged an appeal. A spokesperson for the administration stated that the tariffs were a response to national economic concerns and would continue to be defended.

Immediate Impact on Tariffs:

• Court-Ordered Rescission: The court has ordered the rescission of the challenged tariffs within 10 days.

• Scope of the Ruling: The ruling specifically targets the tariffs imposed under the IEEPA. Other tariffs, such as those enacted under Section 232 of the Trade Expansion Act for national security reasons (e.g., on steel and aluminum), remain unaffected.

Near-Term Developments:

• Appeal Process**:** The Trump administration has filed an immediate appeal against the court's decision.

• Legal Uncertainty: The appeal introduces a period of legal uncertainty until a higher court renders a decision.

Financial markets responded with modest gains. S&P 500 futures rose by 1.5% and trade-sensitive sectors saw slight improvements. While the ruling provided some clarity around the limits of presidential authority on tariffs, the final outcome remains uncertain as the legal process continues. Businesses and importers are likely to remain cautious until the appeal is resolved and the long-term status of the tariffs becomes clearer. Watch Clip

TOGETHER WITH PACASO

Top investors are buying this “unlisted” stock

When the team that co-founded Zillow and grew it into a $16B real estate leader starts a new company, investors notice. That’s why top firms like SoftBank invested in Pacaso.

Disrupting the real estate industry once again, Pacaso’s streamlined platform offers co-ownership of premier properties – revamping a $1.3T market.

By handing keys to 2,000+ happy homeowners, Pacaso has already made $110m+ in gross profits.

Now, after 41% gross profit growth last year, they recently reserved the Nasdaq ticker PCSO. But the real opportunity is now, at the unlisted stage.

Until May 29, you can join Pacaso as an investor for just $2.80/share.

Invest before the window closes.

_{This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC.}

VIDEO OF THE WEEK

Every Level of Wealth in 13 Minutes

Global income levels using bubble charts, exploring how people live from extreme poverty to extreme wealth—while challenging common assumptions with two simple but surprising questions.

TRADE SNIPPETS

WiseTech grows global footprint with $2.1b E2open acquisition. WiseTech Global has acquired E2open for US$2.1 billion, marking its largest deal ever. The move significantly expands its logistics software capabilities and global customer reach in supply chain management.

North Korea arrests senior official over warship launch failure. North Korea detained Ri Hyong-son, a senior official, over a failed warship launch that damaged national pride. Leader Kim Jong Un labeled it a "criminal act" and arrested three others involved. Analysts view this as a sign of Pyongyang's military ambitions.

Global container shipping industry posts $9.9b net income in Q1 2025. The global container shipping industry recorded a net income of US$9.9 billion in Q1 2025, marking a 36.4% decline from Q4 2024 but an 82% increase compared to Q1 2024. Analysts anticipate continued volatility ahead.

Learn AI in 5 minutes a day

What’s the secret to staying ahead of the curve in the world of AI? Information. Luckily, you can join 1,000,000+ early adopters reading The Rundown AI — the free newsletter that makes you smarter on AI with just a 5-minute read per day.

Sign up to start learning.

The key to a $1.3T opportunity

A new real estate trend called co-ownership is revolutionizing a $1.3T market. Leading it? Pacaso. Led by former Zillow execs, they already have $110M+ in gross profits with 41% growth last year. They even reserved the Nasdaq ticker PCSO. But the real opportunity’s now. Until 5/29, you can invest for just $2.80/share.

Invest in Pacaso today.

_{This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC.}

CLIPS ON ‘X”

LETS MEME

Was this email forwarded to you? Subscribe here for update