Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Federal judge blocks 5 Trump tariff executive orders

by May 29, 2025
May 29, 2025
Federal judge blocks 5 Trump tariff executive orders

A federal judge in Washington, D.C., sided with a Chicago-area toy company on Thursday, blocking five executive orders signed by President Donald Trump that imposed tariffs on Chinese imports.

U.S. District Judge Rudolph Contreras determined the International Economic Emergency Economic Powers Act (IEEPA) does not authorize Trump to impose the tariffs in his executive orders.

Contreras granted a motion for a preliminary injunction, filed by the toy company, Learning Resources, Inc., which will be stayed for 14 days in case the administration decides to appeal the decision.

Trump announced his ‘Liberation Day’ reciprocal tariff plan on April 2, imposing a 10% baseline tariff on all countries.

In certain countries, hostile negotiations led to even higher levies, with taxes on Chinese imports reaching 145%.

Rick Woldenberg, CEO of Learning Resources, said in April the third-generation family business that had been manufacturing in China for four decades would face an almost 98% increase in its tariff bill.

He said the $2.3 million the company paid in 2024 would jump to $100.2 million in 2025. 

‘I wish I had $100 million,’ Woldenberg wrote in a statement. ‘Honest to God, no exaggeration: It feels like the end of days.’

China produces 97% of America’s imported baby carriages, 96% of its artificial flowers and umbrellas, 95% of its fireworks, 93% of its children’s coloring books and 90% of its combs, according to a report from the Macquarie investment bank.

On Wednesday, the U.S. Court of International Trade ruled the administration overstepped its authority over tariffs under IEEPA.

‘The Constitution assigns Congress the exclusive powers to ‘lay and collect Taxes, Duties, Imposts and Excises,’ and to ‘regulate Commerce with foreign Nations,’’ the court wrote in its opinion. ‘The question in the two cases before the court is whether the International Emergency Economic Powers Act of 1977 (‘IEEPA’) delegates these powers to the President in the form of authority to impose unlimited tariffs on goods from nearly every country in the world.’

Three judges, appointed by former Presidents Ronald Reagan, Barack Obama, and Trump, found IEEPA did not ‘confer such unbounded authority.’

The Trump administration appealed the decision to the U.S. Supreme Court, but it is unclear what goods will be subject to tariffs in the meantime, Reuters reported.

‘Foreign countries’ nonreciprocal treatment of the United States has fueled America’s historic and persistent trade deficits,’ White House spokesperson Kush Desai told FOX Business after the decision. ‘These deficits have created a national emergency that has decimated American communities, left our workers behind, and weakened our defense industrial base — facts that the court did not dispute.’ 

‘It is not for unelected judges to decide how to properly address a national emergency,’ Desai added. ‘President Trump pledged to put America First, and the Administration is committed to using every lever of executive power to address this crisis and restore American Greatness.’

FOX Business’ Greg Wehner and Bill Mears, and Reuters contributed to this report.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
White House discloses who will lead DOGE efforts after Musk’s departure
next post
Senate Republicans plan hearing on Biden’s alleged cognitive decline cover-up

You may also like

US releasing Russian prisoner Alexander Vinnik in Marc...

February 12, 2025

Skate Canada Changes Definition of “Team” to Allow...

December 14, 2022

House to meet for historic 12th speaker vote...

January 6, 2023

More potential VP picks surface as Trump campaigns...

January 21, 2024

Two 17-Year-Olds Arrested For Stabbing Death of Asian...

October 2, 2022

New images of Avigail Idan show released 4-year-old...

November 28, 2023

Dozens of prominent veterans sign onto letter supporting...

December 6, 2024

Health experts prep Dem lawmakers on anti-vaccine arguments...

January 28, 2025

Conservative backlash to Israel aid bill could force...

February 6, 2024

Democrat Debbie Wasserman-Schultz Introduces Biden in Florida: Come...

November 1, 2022

US releasing Russian prisoner Alexander Vinnik in Marc...

February 12, 2025

Skate Canada Changes Definition of “Team” to Allow...

December 14, 2022

House to meet for historic 12th speaker vote...

January 6, 2023

More potential VP picks surface as Trump campaigns...

January 21, 2024

Two 17-Year-Olds Arrested For Stabbing Death of Asian...

October 2, 2022

New images of Avigail Idan show released 4-year-old...

November 28, 2023

Dozens of prominent veterans sign onto letter supporting...

December 6, 2024

Health experts prep Dem lawmakers on anti-vaccine arguments...

January 28, 2025

Conservative backlash to Israel aid bill could force...

February 6, 2024

Democrat Debbie Wasserman-Schultz Introduces Biden in Florida: Come...

November 1, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Don’t Overlook This Lagging Industry; I Believe It’s Set To Explode!

      July 6, 2025
    • Iran still wants a nuclear weapon despite ‘serious damage’ from US, Israeli strikes: expert warns

      July 6, 2025
    • Democrats project doom and gloom, not celebration, with July 4 messages

      July 5, 2025
    • Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

      July 5, 2025
    • Tesla sees UK sales rebound in June as EV market accelerates

      July 5, 2025
    • Hived raises $42m to roll out electric delivery fleet across southern England

      July 5, 2025

    Categories

    • Business (8,397)
    • Investing (2,102)
    • Politics (15,948)
    • Stocks (3,191)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved