In a setback to US President Donald Trump’s trade strategy, a US federal court has blocked his sweeping “Liberation Day” tariffs, ruling that he overstepped his authority in using emergency powers to impose hefty levies on all US trading partners.
“The court does not read [the International Emergency Economic Powers Act] to confer such unbounded authority and sets aside the challenged tariffs imposed thereunder,” a three-judge panel of the New York-based US Court of International Trade said in…
