Trump's Global Tariff Plan Blocked by US Court

A federal court in the United States issued a ruling on Wednesday, blocking President Donald Trump's plan to impose sweeping tariffs on nearly every country worldwide. The three-judge panel of the U.S. Court of International Trade determined that President Trump overstepped his authority by invoking the 1977 International Emergency Economic Powers Act to declare a national emergency as justification for his tariff plan. "President Trump's massive tariffs are illegal, and he cannot keep them in place if they were rolled out under emergency powers," stated a news anchor from FOX 26 Houston in a report summarizing the ruling. The Trump White House now has a 10-day deadline to submit a plan to the court outlining how it intends to terminate reciprocal tariffs. However, the administration intends to challenge the court's decision through an appeal and is also considering seeking approval for the tariffs from Congress. This action would serve as a means to circumvent the court's ruling. The news of the court's decision was met with a positive response on Wall Street, where pre-market trading saw an increase before the opening bell.