On Wednesday, a federal court ruled that President Trump’s reciprocal tariffs exceeded his scope of power, sending markets higher. Trump had cited the International Emergency Economic Powers Act (IEEPA) as his legal authority, which the judges said does not allow him to issue sweeping tariffs. Now, the Trump administration is fighting back.
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Trump Advisors Defiant on Tariff Ruling
White House economic advisor Kevin Hassett said that the administration will appeal the ruling and is confident it will be overturned in an interview with Fox Business this morning. He added that there were three trade deals ready to be reviewed by Trump at the end of last week.
On top of that, White House trade advisor Peter Navarro added that the administration has several options to address trade and that the court has gotten in the way of Trump’s agenda in a question and answer session with Bloomberg. He stressed that the federal trade deficit and fentanyl use are economic emergencies that allow Trump to invoke tariffs under IEEPA.
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