#global-tariffs

#global-tariffs

A trade court shut down President Donald Trump's 10 percent global tariffs on most U.S. imports Thursday afternoon. In the 2-1 ruling, a panel of judges ultimately blocked the Trump administration from imposing the 10 percent tariffs on the basis that they were not justified under a 1974 trade law. The judges ruled Trump had wrongly invoked the law when he implemented the tariffs on February 20.

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Donald Trump has said it would be a complete mess if the US supreme court were to strike down his global trade tariffs. In a lengthy post on social media, the US president said WE'RE SCREWED if the supreme court rules against the tariffs, before the decision, which could come as soon as Wednesday. It is a crucial legal test of his controversial economic strategy and his power.

TikTok Shop employees are bracing for layoffs after the company said it's making personnel changes.