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US Trade Court Halts Trump’s Global Tariffs, Stocks Jump

The ruling undercuts emergency tariffs that had threatened global growth.

Overview

  • US Court of International Trade ruled that President Trump exceeded his IEEPA authority in imposing ‘Liberation Day’ tariffs, invalidating the April 2 orders.
  • Asian markets surged with South Korea’s Kospi rising 1.4% and futures for the S&P 500 gaining around 1.5% following the court decision.
  • Nvidia’s earnings report showed a 69% year-on-year jump in revenue to $44.1 billion and raised next-quarter guidance, driving a rally in tech shares.
  • South Korea’s central bank cut its key rate by 25 basis points to 2.5%, marking its fourth reduction in the current easing cycle.
  • The White House announced plans to appeal the ruling in federal court, leaving the tariffs in legal limbo.