A US federal appeals court has temporarily allowed the collection of the 10% global tariffs imposed by President Donald Trump to continue. This means the Trump administration can continue applying the tariffs while the legal process continues.
The U.S. Federal Court of Appeals issued an “administrative stay” to allow time for the court to consider the government’s request to suspend the lower court’s decision during the appeals process. This step temporarily prevented the implementation of the trade court’s ruling that invalidated the tariffs.
Following previous global tariffs that were overturned by the Supreme Court in February, the Trump administration imposed a new 10 percent tariff on imports from virtually all countries under Section 122 of the 1974 Trade Act.
However, a coalition of two importing companies and 24 states filed a lawsuit against this decision. The U.S. International Trade Court ruled that the new global tariffs were illegal.
*This is not investment advice.