Federal Court Blocks Trump's Tariffs Amid Cooling Inflation
A federal court has blocked most of Trump's tariffs, while inflation shows signs of cooling, complicating the administration's economic strategy.
Summary
A federal court has ruled against President Trump's tariffs, citing overreach under the International Emergency Economic Powers Act. This ruling raises doubts about Trump's economic policies, which have already unsettled global markets. Despite Trump's calls for lower interest rates, Federal Reserve Chair Jerome Powell emphasized a cautious approach, focusing on objective analysis. Recent data shows U.S. inflation has slowed, with consumer prices rising only 2.1% in April, while incomes increased by 0.8%. The court's decision complicates Trump's trade strategy, as the administration plans to appeal, leaving the future of tariffs uncertain.
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