Moving targets
The curveballs keep coming. The ongoing uncertainty surrounding US President Donald Trump’s tariff policies was ratcheted up again, after a federal court ruled that he exceeded his authority in imposing “reciprocal” tariffs on many countries. Setting tariffs has always been the preserve of Congress, but legislation contains loopholes for the President to act in emergencies. The court believes the Trump administration overstepped the mark, however, the tariffs will remain in place while they appeal the judgement. The end goal of US trade policy remains a moving target.