Overview

• The U.S. Court of Appeals for the Federal Circuit issued a temporary stay of a U.S. Court of International Trade injunction, keeping the 10% baseline and reciprocal tariffs in place.
• A three-judge panel at the U.S. Court of International Trade unanimously ruled that the president exceeded his authority under the International Emergency Economic Powers Act.
• Under the appeals court stay, the administration must prove that blocking the duties would cause irreversible harm, a demanding legal standard.
• White House Economic Council Director Kevin Hassett said he is “very, very confident” that appellate judges will uphold the emergency tariffs.
• Hassett added that the administration has alternative trade measures ready if courts reject its national emergency justification.