A panel of three judges of the U.S. Court of International Trade in New York has suspended the decision of U.S. President Donald Trump to introduce new import tariffs. This is reported by UNN with reference to CNN.
Details
It is noted that the court decision, in particular, concerns Trump's "global tariffs", which he introduced on April 2 and called it "Liberation Day", as well as import duties on China, Mexico and Canada, aimed at combating the import of fentanyl into the United States.
The decision suspends Trump's 30% duty on China, his 25% duty on certain goods imported from Mexico and Canada, and 10% universal duties on most goods entering the United States. However, this does not affect the 25% tariffs on cars, auto parts, steel and aluminum
The media points out that the court's decision caused a positive reaction in the financial markets. Thus, futures on the Dow, S&P 500 and Nasdaq indices showed growth of 1.1-1.6%.
The publication also reminds that the lawsuit was filed in April by the libertarian human rights group Liberty Justice Center, which represented the interests of wine seller VOS Selections and four small businesses. They argued that they had suffered serious damage due to the new tariffs.
Let us remind you
On April 2, US President Donald Trump announced the introduction of new duties for certain countries, including China - 34%, EU - 20%, Great Britain - 20%.
On April 9, the head of the White House announced a 90-day pause, leaving in force 10% tariffs on most goods entering the United States.
The introduction of new US tariffs caused a fall in financial markets, a collapse in world stocks and an increase in demand for safe haven assets.