A United States trade court has blocked President Donald Trump’s global tariffs, deeming them illegal. The Trump administration immediately filed a notice of appeal, signaling a continuation of the legal battle over trade policy. The blocked tariffs, described as ‘liberation day’ tariffs in some reports, have been a contentious issue, drawing criticism from various sectors concerned about their impact on international trade and the U.S. economy.
This decision comes amidst broader discussions on trade, as indicated by reports of Nvidia’s CEO expressing concerns over U.S. restrictions on AI chip exports to China. These developments occur within a complex landscape, influencing market sentiment and investor reactions. The initial market reaction saw the ASX edging marginally higher, reflecting investor consideration of both the tariff news and earnings reports from major companies, including Nvidia. The court’s decision has injected uncertainty into trade relations and raises questions about the future of U.S. trade policy.
