The US Court of International Trade has declared US President Donald Trump’s wave of tariffs as “unlawful”.
In a ruling yesterday (28 May), the panel of judges said Trump's orders "exceed any authority granted to the president by IEEPA [International Emergency Economic Powers Act] to regulate importation by means of tariffs". Most UK CEOs have altered investment strategies amid global trade war uncertainty The decision marks a significant setback for Trump's economic agenda, and the White House has pledged to appeal it. The president's first wave of tariffs on 2 April caused market turmoil and led to a major decline in US and global indices. At time of writing, S&P 500 futures were up...
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