The federal court decision blocks both the “Liberation Day” tariffs and the earlier duties against Canada and Mexico related to fentanyl. Tariffs on steel, aluminum and autos made outside the United States were imposed under different powers and still apply.

The U.S. Court of International Trade said the president had overstepped his authority in imposing his “reciprocal” tariffs globally, as well as levies on Canada and Mexico.

"This ruling protects American businesses from the destabilizing effects of volatile, unilaterally imposed tariffs."

Surprise court ruling striking down most of President Trump's tariffs on imports could bolster stocks, according to Wall Street analysts.

Mark R. Ludwikowski and Kelsey Christensen of Clark Hill PLC discuss the Trump administration tariffs and their implications on compliance with the United States-Mexico-Canada Agreement.

Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.

The court’s decision blocks the tariffs Trump imposed last month on almost all US trading partners and levies he imposed before that on China, Mexico and Canada.View on euronews

SINGAPORE] Sky-high reciprocal tariffs may converge on the baseline rate of 10 per cent after US talks with trading partners – though not for China, which will still face higher rates, said Citigroup’s global chief economist Nathan Sheets.