Subject: Tariffs in Limbo: Trade War "Central Plank" Up in the Air
Yesterday, a little-known court made a big decision.
The Manhattan-based Court of International Trade ruled on Wednesday that the U.S. Constitution gives Congress exclusive authority to regulate commerce with other countries, and that this authority is not overridden by the president's emergency powers.
In response, the White House quickly set an appeal process in motion, one that could go all the way to the Supreme Court.
But the trade court has, at least temporarily, invalidated all of Trump's orders on tariffs since January that were rooted in the International Emergency Economic Powers Act, a law meant to address "unusual and extraordinary" threats during a crisis.
While the ruling doesn't cover sector-specific tariffs on steel or autos, analysts said it does invalidate the 10% universal tariff, the global 'reciprocal' tariffs, levies on Canada and Mexico and the new China levies.
At the very least, the tariffs are in limbo for now. Appeals are pending and there may be other legal routes to reinstate the levies, but, as it stands, the ruling effectively freezes bilateral trade negotiations with Europe, China and other countries that needed to be concluded by July 9.
Stock markets - which were already cheering a decent set of Nvidia results that came out shortly before the court announcement - zoomed higher ahead of today's bell on the prospect of frustration, delay and possible suspension of the central plank of Trump's trade war.
Market anxiety is a real thing.
As a trader, you feel it every time the market opens. You hold your breath, watching for red.
It's like a game of chicken, and you hope you don't flinch first.
But what if you could avoid the emotional roller coaster?
What if you had a clear roadmap, a simple four-step system that told you exactly what to do (and when) on SPY?
That's what you'll get with the Ronin Strike Tactical Bounce System: a repeatable process that takes the guesswork out of trading, so you can trade with quiet confidence.
If you're tired of sleepless nights, anxiety, and the exhausting game of market chicken...
Click here to discover how the Ronin Strike Tactical Bounce System can help you trade with clarity and confidence.
Best,
Brett
The Manhattan-based Court of International Trade ruled on Wednesday that the U.S. Constitution gives Congress exclusive authority to regulate commerce with other countries, and that this authority is not overridden by the president's emergency powers.
In response, the White House quickly set an appeal process in motion, one that could go all the way to the Supreme Court.
But the trade court has, at least temporarily, invalidated all of Trump's orders on tariffs since January that were rooted in the International Emergency Economic Powers Act, a law meant to address "unusual and extraordinary" threats during a crisis.
While the ruling doesn't cover sector-specific tariffs on steel or autos, analysts said it does invalidate the 10% universal tariff, the global 'reciprocal' tariffs, levies on Canada and Mexico and the new China levies.
At the very least, the tariffs are in limbo for now. Appeals are pending and there may be other legal routes to reinstate the levies, but, as it stands, the ruling effectively freezes bilateral trade negotiations with Europe, China and other countries that needed to be concluded by July 9.
Stock markets - which were already cheering a decent set of Nvidia results that came out shortly before the court announcement - zoomed higher ahead of today's bell on the prospect of frustration, delay and possible suspension of the central plank of Trump's trade war.
Market anxiety is a real thing.
As a trader, you feel it every time the market opens. You hold your breath, watching for red.
It's like a game of chicken, and you hope you don't flinch first.
But what if you could avoid the emotional roller coaster?
What if you had a clear roadmap, a simple four-step system that told you exactly what to do (and when) on SPY?
That's what you'll get with the Ronin Strike Tactical Bounce System: a repeatable process that takes the guesswork out of trading, so you can trade with quiet confidence.
If you're tired of sleepless nights, anxiety, and the exhausting game of market chicken...
Click here to discover how the Ronin Strike Tactical Bounce System can help you trade with clarity and confidence.
Best,
Brett