Daily Oil Fundamentals
Markets Cheer on Trade Court’s Blocking of Tariffs
29 May 2025Markets Cheer on Trade Court’s Blocking of Tariffs
Recently, we discussed along with others, on how the tariff policy of this current White House might just be given another layer of intrigue by the little know Federal Court of International Trade. That complication found fruition yesterday as the court indeed ruled President Trump’s invocation of emergency laws giving him the power to impose tariffs as unlawful. The New York gathering of judges said it was the role of Congress to regulate commerce, and the International Emergency Economic Powers Act (IEEPA) does not empower him ability to sweep the world with tariffs.