U.S. Markets Brace for Data as Court Blocks Trump’s Tariffs
(MENAFN) Global markets are closely monitoring a recent judicial decision that blocks President Donald Trump’s extensive reciprocal tariffs, just as critical US economic reports are about to be released. Investors are also reacting to billionaire Elon Musk’s departure from his government role, adding to market uncertainty.
On Thursday, the US will release growth figures, followed by core personal consumption data on Friday, offering vital clues about the trajectory of the US economy amid ongoing global inflation and recession pressures.
Trump’s second administration’s protectionist trade stance continues to shape macroeconomic trends amid escalating economic uncertainties.
The US Court of International Trade has ruled that the International Emergency Economic Powers Act, which Trump used to justify his tariffs, does not grant him the authority to impose them. The court invalidated the so-called Liberation Day tariffs, stating that Trump overstepped his legal powers.
The ruling emphasized that “it is the Congress and not the president who can regulate trade and impose duties.”
Experts indicate the decision is unlikely to impact tariffs on steel, aluminum, and automobiles but signals possible shifts in future US trade policy.
Meanwhile, minutes from the Federal Reserve’s recent meeting reveal a cautious stance by officials as they await clearer effects from new government policies. The Fed acknowledged heightened downside risks to employment and economic activity, alongside increased upside risks to inflation, both influenced by tariff measures.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
