US-China Trade Tariff Suspension Amid Legal Challenges to Trump's Tariffs
A 90-day suspension of tariffs between the US and China coincides with legal battles over the legality of Trump's tariffs.
At least six separate lawsuits have targeted President Trump's use of tariffs.
Lawyer calls Trump tariffs 'unlawful' as they face 1st test against small businesses
ABC News·9h·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.
The Liberty Justice Center’s lawsuit is one of seven court challenges to Trump’s tariff policies, and it is the first to seek a ruling that would stop the tariffs from moving forward.
Little-Known New York Court Could Decide Fate of Trump Tariffs
New York Sun·9h·Mixed ReliableThis source has a mixed track record—sometimes accurate but also prone to bias, sensationalism, or incomplete reporting.RightThis outlet favors right-wing views.
The president’s imposition of so-called ‘Liberation Day’ tariffs represents an unprecedented and unlawful expansion of executive authority.
Small businesses call Trump's tariffs 'unlawful,' urge federal trade court to block them
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Farming, after all, is an enterprise built on loose soil, the whims of weather and other uncontrollable factors.
Farmers weigh Trump’s trade war like they watch the weather, waiting to see how things go
Boston Herald·11h·Mostly ReliableThis source is generally reliable but sometimes includes opinion, propaganda, or minor inaccuracies.Leans RightThis outlet slightly leans right.Farming, after all, is an enterprise built on loose soil, the whims of weather and other uncontrollable factors.
Farmers weigh Trump's trade war like they watch the weather, waiting to see how things go
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It is unclear how long this pessimism will last.
US monthly inflation rate slows amid Trump tariffs
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However, what’s been a yearslong unwinding of post-pandemic inflation isn’t expected to last.
CNN·15h·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.Leans LeftThis outlet slightly leans left.
The reversal reflects this internal contradiction.
Why did the US and China slash tariffs – and what’s next?
Al Jazeera·18h·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.Leans LeftThis outlet slightly leans left.Economists still expect inflation to rise this year because of tariffs, but probably not as sharply as they had anticipated before the 90-day truce between the world's two largest economies, allowing the Federal Reserve to maintain its wait-and-see stance.
US Inflation Falls to Lowest Level in Four Years
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The downturn in financial markets over the past six weeks and its remarkable reversal as Trump has rolled back significant parts of his tariff policy shows how Wall Street is ready and willing to reward tariff pauses and walkbacks from the administration.
Pause on China Tariffs Prompts Optimism, Uncertainty
The Dispatch·21h·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.
Trump’s retreat on tariffs with China is not complete.
With Tariff Retreat, Trump Cedes Leverage to China
TIME Magazine·1d·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.Leans LeftThis outlet slightly leans left.
The 90-day reprieve also comes at a vital time for the economy, allowing retailers and suppliers to ensure that shelves are stocked for the all important back-to-school and holiday shopping seasons.
Dow leaps 1,100 points following a 90-day truce in the U.S.-China trade war
PBS NewsHour·1d·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.Leans LeftThis outlet slightly leans left.
The deal was focused on actions taken in the past five weeks, but did potentially include some concessions on non-tariff trade barriers.
US, China Trade Talks—What Has Been Agreed to So Far
Epoch Times·1d·Mixed ReliableThis source has a mixed track record—sometimes accurate but also prone to bias, sensationalism, or incomplete reporting.RightThis outlet favors right-wing views.
Summary
The US and China agreed to a 90-day suspension of tariffs, reducing US tariffs on Chinese goods from 145% to 30%. This development coincides with a decrease in inflation, which reached 2.3% in April. However, legal scrutiny intensifies as at least six lawsuits challenge the constitutionality of Trump's tariffs, dubbed 'Liberation Day' tariffs, with critics arguing they represent an unlawful expansion of executive power. Farmers express cautious optimism about the tariff pause, recognizing potential benefits but remaining wary of future implications, particularly concerning market volatility and crop prices.
Perspectives
The U.S. and China have entered a 90-day truce, reducing tariffs temporarily, but experts warn that the underlying trade issues may persist longer than the agreement itself.
Recent stock market gains reflect investor optimism regarding the temporary easing of trade tensions, though lasting impacts of the tariffs remain a concern for businesses and consumers alike.
At least six lawsuits challenge the legality of Trump's tariffs, arguing they represent an expansion of executive power that could undermine trade fairness if left unchecked.
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