US Still Working On Trade Deals Despite Court Ruling

• The Trump administration is pressing ahead with trade negotiations despite a U.S. appeals court ruling that most of President Trump’s tariffs are illegal. U.S. Trade Representative Jamieson Greer said discussions with partners remain active, noting that “people are moving forward with their deals, regardless of what this court may say in the interim.”
• The U.S. Court of Appeals for the Federal Circuit ruled 7-4 on Friday that Congress did not grant the president explicit authority to impose reciprocal tariffs under national emergency powers. The decision covers levies announced earlier this year against China, Canada, and Mexico, but allows them to remain in effect until October 14 while appeals proceed. Trump has vowed to escalate the case to the Supreme Court, where his advisers expect a favourable outcome given the Court’s conservative majority.
• Trade experts said the administration had anticipated the ruling and was preparing fallback options, including use of Section 338 of a 1930 trade law that permits duties of up to 50% against countries discriminating against U.S. commerce. Officials emphasised that tariff policy remains a central pillar of Trump’s foreign and economic strategy, despite heightened uncertainty and market volatility.
• Fellow Republican U.S. Senator James Lankford said companies he has talked to want the issue settled, as ongoing legal battles are destabilising investment and supply chain planning.

(Source: Reuters)