{"id":10020,"date":"2025-05-29T14:06:14","date_gmt":"2025-05-29T14:06:14","guid":{"rendered":"https:\/\/firearmman.com\/?p=10020"},"modified":"2025-05-29T14:06:16","modified_gmt":"2025-05-29T14:06:16","slug":"stocks-climb-after-court-blocks-some-of-trumps-tariffs","status":"publish","type":"post","link":"https:\/\/firearmman.com\/?p=10020","title":{"rendered":"Stocks climb after court blocks some of Trump’s tariffs"},"content":{"rendered":"
\n

Stocks surged at the open of trading on Thursday after a panel of federal judges blocked President Donald Trump from slapping some of his far-reaching tariffs<\/a> on China and other major U.S. trading partners.<\/p>\n

The Dow Jones Industrial Average jumped 55 points, or 0.1%, while the S&P 500 increased 0.8%. The tech-heavy Nasdaq climbed 1.4%<\/p>\n

The ruling from the U.S. Court of International Trade late Wednesday marked a major blow for Trump’s tariff policy, invalidating levies on dozens of countries unveiled in a Rose Garden ceremony that Trump had dubbed “Liberation Day<\/a>.”<\/p>\n

Trump later paused those so-called “reciprocal tariffs” for 90 days, embarking on trade negotiations with the target nations that remain ongoing.<\/p>\n

A separate set of tariffs focused on Mexico and Canada over their alleged role in the fentanyl trade fell victim to the court’s decision. The ruling also invalidated a 10% tariff imposed on goods from nearly all countries.<\/p>\n

The Trump administration appealed<\/a> the ruling within minutes, leaving the ultimate fate of the tariffs unclear.<\/p>\n

The ruling centered on Trump’s unprecedented invocation of the International Economic Emergency Powers Act as a legal justification for tariffs.<\/p>\n

The 1977 law allows the president to stop all transactions with a foreign adversary that poses a threat, including the use of tools like sanctions and trade embargoes. But the measure does not explicitly permit tariffs, putting Trump in untested legal territory.<\/p>\n

The ruling afforded the Trump administration as many as 10 days to halt the tariffs.<\/p>\n

Even before the court’s decision, Trump had rolled back some of the levies at issue.<\/p>\n

A trade agreement between the U.S. and China earlier this month slashed tit-for-tat tariffs between the world\u2019s two largest economies and triggered a surge in the stock market. Within days, Wall Street firms softened their forecasts of a recession.<\/p>\n

The U.S.-China accord came weeks after the White House paused the reciprocal tariffs. Trump eased duties on some goods from Mexico and Canada.<\/p>\n

The ruling did not impact sector-specific tariffs used under separate legal statutes, including levies targeting autos, steel and aluminum.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Stocks surged at the open of trading on Thursday after a panel of federal judges blocked President Donald Trump from slapping some of his far-reaching tariffs on China and other major U.S. trading partners. The Dow Jones Industrial Average jumped 55 points, or 0.1%, while the S&P 500 increased 0.8%. The tech-heavy Nasdaq climbed 1.4% […]<\/p>\n","protected":false},"author":1,"featured_media":10021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-10020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-news"],"_links":{"self":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/10020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10020"}],"version-history":[{"count":1,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/10020\/revisions"}],"predecessor-version":[{"id":10022,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/posts\/10020\/revisions\/10022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=\/wp\/v2\/media\/10021"}],"wp:attachment":[{"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/firearmman.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}