UPDATE 1-US trade court rules against Trump's 10% global tariffs

‌trade court ​on Thursday ruled against President Donald Trump's latest 10% global tariffs, finding across-the-board ‌tariffs were not justified under a 1970s trade law. The U.S. Court of International Trade ruled in favor of small businesses ‌that challenged the tariffs, which took effect on February ‌24.

The U.S. ‌trade court ​on Thursday ruled against President Donald Trump's latest 10% global tariffs, finding across-the-board ‌tariffs were not justified under a 1970s trade law. The U.S. Court of International Trade ruled in favor of small businesses ‌that challenged the tariffs, which took effect on February ‌24. The ruling was 2-1, with one judge saying it was premature to grant victory to the small business plaintiffs.

The small businesses ⁠had ​argued the ⁠new tariffs were an attempt to sidestep a landmark U.S. Supreme ⁠Court decision that struck down the Republican president's 2025 tariffs imposed under ​the International Emergency Economic Powers Act. In his February ⁠order, Trump invoked Section 122 of the Trade Act of 1974, ⁠which ​allows for duties for up to 150 days to correct serious "balance of payments deficits" or head off ⁠an imminent depreciation of the dollar.

Thursday's court ruling found the law ⁠was ⁠not an appropriate step for the kinds of trade deficits that Trump cited in his February ‌order.