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U.S. appeals court temporarily allows President Trump's 10% tariffs under Section 122
CNBC Television· 2026-05-12 19:10
An appeals court has [music] ruled that President Trump's Section 122 10% across-the-board tariffs are allowed to remain in place for now while an appeals case is ongoing. So, you'll remember the Court of International Trade ruled last week uh that these Section 122 tariffs were unlawful. They issued an injunction just for the plaintiffs in the case.It was a narrow ruling saying the tariffs had to be paused and refunded for two small companies as well as the state of Washington. The Trump administration app ...
Energy Secretary dodges question on whether gas could hit $5 per gallon
MSNBC· 2026-05-11 16:08AI Processing
Correspondent Neil Irwin to break all of this down for us. Neil, good to have you. Would suspending the gas tax be an effective move to give some Americans, give the American people some relief at the pump.It could help on the margins. So the federal gas tax is about 18 cents a gallon. However, if they were to suspend that, it doesn't necessarily all flow through to consumers.Some of that gets absorbed by refiners, retailers, depending on the structure of some of those markets. So even if you get, you know, ...
X @The Wall Street Journal
The Wall Street Journal· 2026-05-11 16:06
Exclusive: In a bid to bring down record-high beef prices, the Trump administration plans to temporarily reduce tariffs to allow for more beef imports https://t.co/GAg7IWq9b9 ...
Trump's Latest 10% Tariffs Declared Unlawful by US Trade
Bloomberg Television· 2026-05-10 16:40
NYU law professor Melissa Murray has a new book out, The US Constitution, A Comprehensive and Annotated Guide. And we started our conversation asking about those comments from the chief justice, both what he said and why he felt he had to say it. It's interesting that the chief justice felt compelled to say this.I think there's been a lot of attention on the court over the last couple of years. I'm not simply because this particular court with its conservative supermajority has overruled a major decision in ...
Spice Company Wins Suit Over 10% Trump Global Tariffs
Bloomberg Television· 2026-05-10 15:27
Section one twenty two was imposed about five hours after the president lost his IEBA tariff case. Section one twenty two says the president does have the authority to grant up to 15% tariffs on pretty much any country in the world if there is a large and serious balance of payments deficit. He has that authority for a hundred and fifty days, and then congress has to step in and either renew those tariffs or they go away.So our case held that he didn't have a balance of payments, large and serious deficit, ...
X @The Wall Street Journal
The Wall Street Journal· 2026-05-10 15:21
Companies that paid President Trump’s sweeping global tariffs are starting to get their money back. The next question: What to do with the refunds? https://t.co/FnN20N8iEB ...
X @The Wall Street Journal
The Wall Street Journal· 2026-05-08 01:00
From @WSJopinion: President Trump’s zero-for-two record on tariffs in court recalls Joe Biden’s obstinate illegality on student loan forgivenesshttps://t.co/0gA9h1WNDg ...
X @CNN Breaking News
CNN Breaking News· 2026-05-07 23:01
President Donald Trump’s 10% across-the-board tariffs are in jeopardy after a federal court ruled them illegal, dealing a second major blow this year to the president’s signature economic policy. https://t.co/h6AqfMUVIC https://t.co/iCLM3tYKNq ...
X @Bloomberg
Bloomberg· 2026-05-07 18:58
Donald Trump said he discussed trade and tariffs with Brazil’s Luiz Inacio Lula da Silva at the White House, and their two governments agreed to continue discussing the often-divisive issues https://t.co/EuAjAPBPeA ...