Economic Glance
A federal appeals court on Friday rejected President Trump’s assertion that emergency powers justify his worldwide tariffs, a blow to his efforts to refashion global trade.
In a 7-4 decision, the U.S. Court of Appeals for the Federal Circuit affirmed a lower court’s ruling that the tariffs were not authorized by the statute Trump cited to justify them.
The International Emergency Economic Powers Act (IEEPA) authorizes the president to issue certain economic sanctions to counter an “unusual and extraordinary threat” in an emergency, but it does not permit the president’s sweeping moves, the court ruled.
“Because we agree that IEEPA’s grant of presidential authority to ‘regulate’ imports does not authorize the tariffs imposed by the Executive Orders, we affirm,” the court wrote.
The ruling does not take effect immediately, as the court withheld the mandate for its decision until Oct. 14, so the administration can appeal to the Supreme Court.
Donald Trump has a simple solution when numbers are telling him something he does not want to hear: Make up new numbers.
Amazon Web Services is giving the Trump administration a $1 billion coupon to use their services for the federal government’s digital transformation and artificial intelligence capacity. On Thursday, the General Services Administration announced a sweeping “OneGov” agreement with Amazon Web Services that would yield up to $1 billion in cost savings for federal agencies shifting to cloud services.
