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President Trump’s extensive tariffs on imports from nearly all foreign nations have been declared illegal by the U.S. Court of International Trade, creating uncertainty for U.S. consumers and businesses. The court’s ruling halts tariffs imposed under the International Emergency Economic Powers Act (IEEPA) but leaves other tariffs, such as those on steel and aluminum, intact. While Trump plans to appeal, businesses face ongoing uncertainty, as most tariffs are typically passed on to consumers, contributing to inflation concerns despite initial relief in the stock market.
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