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Federal Court Rules Trump's 10% Tariffs Unlawful on Thursday, But Ruling Limited to Plaintiffs

GateNews
Commodities
According to CNN, on Thursday, May 8, a federal appeals court panel ruled 2-1 that President Trump's 10% blanket tariffs violate the law and lack statutory authority under Section 122 of the 1974 Trade Act. The ruling requires the government to stop collecting tariffs from the plaintiffs—a group of small businesses and Democratic-led states—and refund previously paid amounts. However, tariffs on all other importers remain in effect through July. The court's order currently applies only to the two companies that filed the lawsuit and Washington state.
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