Why was Trump's "reciprocal tariffs" ruled "illegal"? What will happen next?

Wallstreetcn
2025.08.30 04:10
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The U.S. Court of Appeals stated that the International Emergency Economic Powers Act does not explicitly grant the U.S. President the authority to impose tariffs, and Trump's invocation of the act to impose tariffs exceeded his authority. Although ruled invalid, these tariffs will remain in effect until October 14 to allow the U.S. Supreme Court time to review the case. Trump responded that if the tariffs are canceled, it would be "a complete disaster" for the United States