A US appeals court has ruled that most of the tariffs imposed by President Donald Trump are illegal.
Undermining the Republican president's use of tariffs as a key tool of international economic policy, Reuters reported, quoted by BNR.
The appeals court's decision examines the legality of what Trump calls "reciprocal" tariffs imposed as part of his trade war in April, as well as separate tariffs imposed in February against China, Canada and Mexico. The court's decision does not affect tariffs imposed under other legal grounds, such as those on steel and aluminum imports. The case is expected to be appealed to the U.S. Supreme Court.
Donald Trump has made tariffs a pillar of his foreign policy during his second term, using them to exert political pressure and renegotiate trade deals with countries that export goods to the U.S. The tariffs have given the Trump administration leverage to extract economic concessions from trading partners, but they have also increased volatility in financial markets.