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A U.S. trade court ruled that President Trump’s global reciprocal tariffs are illegal, stating he overstepped his authority by imposing these tariffs under an emergency law. The ruling invalidated tariffs imposed since January, challenging Trump’s claims of a national emergency due to trade deficits, and emphasized that such powers lie with Congress. Following the ruling, the Trump administration filed an appeal, arguing that only Congress can challenge a presidentially declared national emergency, while financial markets reacted positively to the decision.
