US court blocks most Trump tariffs, says president exceeded his authority

29 May 2025, 1:55 pm

1 min read

FILE PHOTO: U.S. President Donald Trump holds a chart next to U.S. Secretary of Commerce Howard Lutnick as Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., U.S., April 2, 2025. REUTERS/Carlos Barria/File Photo

Reuters was more than 9 minutes ahead of the competition with the news on Wednesday that the Court of International Trade had blocked most of President Donald Trump’s tariffs. The U.S. dollar surged against currencies such as the euro, yen and the Swiss franc following the ruling. Wall Street futures rose and equities across Asia also jumped. On Thursday, a federal appeals court paused the lower court’s ruling to consider the government’s appeal, temporarily reinstating the most sweeping tariffs.