Trump has a number of avenues of appeal open – here’s one

Here’s the news and the impact:

• A US federal court blocked Trump’s “Liberation Day” tariffs from going into effect
• USD higher after US court says Trump doesn’t have ‘Liberation Day’ tariff authority
• Trump’s tariffs blocked – what we know

• The US dollar is continuing to rocket higher on the tariff-block news

The latest is:

• Trump has appealed against the court ruling blocking tariffs

In a nutshell, the Court ruled that Congress has not delegated authority to Trump some sort of umlimited authoirity to set tariffs:

• Worldwide and Retaliatory Tariffs lack any identifiable limits
• thus fall outside the scope of sec. 1702
• maximum limit to unilateral Presidential tariffs for “balance of
  payments” related means is 15% maximum for not more than 5
  months
• fentanyl and reciprocal tariffs are moot (questionable)

Also, it did not address any question of sectoral tariffs. Those appear safe for Trump for now.

In a nutshell, again, Trump has scope for tariffs, just perhaps not as wide as he initially announced.

This article was written by Eamonn Sheridan at www.forexlive.com.