Tuesday, 02 January 2024 12:17 GMT

Trump's Tariffs Get Green Light To Stay: What Does It Mean?


(MENAFN- Live Mint) Donald Trump can continue to enforce his global tariffs for now until the appeals proceed, a federal appeals court held in a win for the president on one of his signature economic policies.

The order Tuesday by the US Court of Appeals for the Federal Circuit extends an earlier, short-term reprieve for the Trump administration as it presses a challenge to a lower court ruling last month that blocked the tariffs.

The Justice Department argued that the concerns of US officials over ongoing trade negotiations took precedence over the economic harm reported by the small businesses that filed the lawsuit.

What does it mean? The court ruling means that President Donald Trump can, for now, continue enforcing his“Liberation Day” tariffs on imports from most US trading partners.

This includes a separate set of tariffs specifically imposed on Canada, China, and Mexico.

The Appeals court also put the case on an expedited track, citing the“issues of exceptional importance” at stake. The arguments are now scheduled for July 31.

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