"Trump's Unlawful Overreach of Presidential Authority"...US Court Blocks Reciprocal Tariffs

Korea Economic Daily

Summary

The US federal court has issued a ruling blocking the Trump administration's implementation of reciprocal tariffs.
The court stated that the tariff measures exceeded presidential authority, and that the constitutional authority over trade regulation lies with Congress.
Small businesses have filed lawsuits due to concerns about the impact of tariffs on their operations, with a total of seven related lawsuits underway.

On the 28th (local time), a US federal court blocked the implementation of reciprocal tariffs pushed by the Donald Trump administration. According to Reuters, the US federal court issued a ruling to block the implementation of President Donald Trump's 'Liberation Day' reciprocal tariff measures.

The court judged that President Trump's imposition of tariffs on countries that export more to the US and import less was an overreach of authority. The US Constitution grants exclusive authority over trade regulations with other countries to Congress, which takes precedence over the president's emergency powers to protect the US economy.

This lawsuit was filed by five small businesses, including a liquor importer in New York and an educational kit and instrument manufacturer in Virginia. These companies argue that the tariffs would negatively impact their businesses. Additionally, a total of seven lawsuits have been filed against the tariff policy by 13 US states and other small businesses.

Previously, on April 2, President Trump announced reciprocal tariffs targeting the entire world, declaring it 'US Liberation Day.' A 25% tariff was imposed on South Korea. However, as concerns over the imposition of reciprocal tariffs grew both domestically and internationally, President Trump deferred the reciprocal tariffs for 90 days until July 9, maintaining only a basic 10% tariff.

Reporter Minseong Hong, Hankyung.com mshong@hankyung.com