关税，重大突发！刚刚，直线拉升！

Core Viewpoint - The U.S. Federal Court has blocked President Trump's tariff policy announced on April 2, ruling that he overstepped his authority by imposing tariffs on countries that export more to the U.S. than they import [2][3] Group 1: Court Ruling and Its Implications - The ruling from the International Trade Court in Manhattan states that the U.S. Constitution grants Congress exclusive power to regulate trade with other nations, and the President's emergency powers do not supersede this authority [2] - The court's decision is seen as a significant legal challenge to Trump's tariff policy, initiated by a lawsuit from a non-profit organization representing five affected small businesses [2][3] - Following the ruling, the Trump administration filed an appeal within minutes, indicating ongoing legal battles regarding the tariff policy [2][3] Group 2: Market Reactions - The news of the court ruling led to a nearly 6% increase in the FTSE China 3x Long ETF and significant gains in U.S. stock indices, with Nasdaq futures rising over 2% and Dow and S&P 500 futures increasing by more than 1% [1] - Asian markets also reacted positively, with Japan's Nikkei 225 index rising over 1.5% and South Korea's KOSPI index increasing by more than 1% [1] Group 3: Analysis of the Ruling's Impact - Analysts suggest that the court's decision will boost market sentiment rather than lead to structural changes, as it alleviates tactical risks ahead of the expiration of high tariffs in July [3] - The ruling is viewed as a judicial action rather than an executive decision, adding to the complexity of the current economic environment [3] - The decision marks one of Trump's most significant legal defeats in his attempts to test the limits of presidential power through various executive actions [3][4]