The Five Small Businesses That Helped Block Trump's Tariffs
Source: Time via AOL
The federal Court of International Trade has blocked President Donald Trump’s sweeping global tariffs, arguing that emergency laws invoked by the Administration did not give Trump unilateral authority to impose the levies.
Per the court, the U.S. Constitution gives Congress exclusive powers to regulate trade with other countries, something which Trump cannot supersede.
The court also blocked a different set of levies the Trump Administration imposed on Canada, China, and Mexico, for what the White House said was in response to the unacceptable flow of drugs and illegal immigrants across the U.S. border.
Trump announced most of his tariffs—the ones he calls "reciprocal”— on April 2, his self-appointed “Liberation Day.” A baseline rate of 10% was placed on U.S. imports, while additional "reciprocal” tariffs were doled out on top of those. Trump then announced a 90-day pause on the additional tariffs for most countries, allowing time for negotiations. The U.S. and China later came to a separate agreement, agreeing in May to significantly reduce tariffs on each other for a 90-day period.
Read more: https://www.aol.com/five-small-businesses-helped-block-114435166.html
The five businesses:
1: FishUSA
2: Genova Pipe
3: Terry Precision Cycling
4: MicroKits
5: VOS Selections
MAGAts are melting down over this.
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