• Home
  • Privacy Policy
  • Terms & Conditions
  • Thank you
Profit News Report
No Result
View All Result
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
No Result
View All Result
Profit News Report
No Result
View All Result
Home Editor's Pick

Federal judge blocks 5 Trump tariff executive orders

by
May 29, 2025
in Editor's Pick
0
Federal judge blocks 5 Trump tariff executive orders
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

A federal judge in Washington, D.C., sided with a Chicago-area toy company on Thursday, blocking five executive orders signed by President Donald Trump that imposed tariffs on Chinese imports.

U.S. District Judge Rudolph Contreras determined the International Economic Emergency Economic Powers Act (IEEPA) does not authorize Trump to impose the tariffs in his executive orders.

Contreras granted a motion for a preliminary injunction, filed by the toy company, Learning Resources, Inc., which will be stayed for 14 days in case the administration decides to appeal the decision.

Trump announced his ‘Liberation Day’ reciprocal tariff plan on April 2, imposing a 10% baseline tariff on all countries.

In certain countries, hostile negotiations led to even higher levies, with taxes on Chinese imports reaching 145%.

Rick Woldenberg, CEO of Learning Resources, said in April the third-generation family business that had been manufacturing in China for four decades would face an almost 98% increase in its tariff bill.

He said the $2.3 million the company paid in 2024 would jump to $100.2 million in 2025. 

‘I wish I had $100 million,’ Woldenberg wrote in a statement. ‘Honest to God, no exaggeration: It feels like the end of days.’

China produces 97% of America’s imported baby carriages, 96% of its artificial flowers and umbrellas, 95% of its fireworks, 93% of its children’s coloring books and 90% of its combs, according to a report from the Macquarie investment bank.

On Wednesday, the U.S. Court of International Trade ruled the administration overstepped its authority over tariffs under IEEPA.

‘The Constitution assigns Congress the exclusive powers to ‘lay and collect Taxes, Duties, Imposts and Excises,’ and to ‘regulate Commerce with foreign Nations,’’ the court wrote in its opinion. ‘The question in the two cases before the court is whether the International Emergency Economic Powers Act of 1977 (‘IEEPA’) delegates these powers to the President in the form of authority to impose unlimited tariffs on goods from nearly every country in the world.’

Three judges, appointed by former Presidents Ronald Reagan, Barack Obama, and Trump, found IEEPA did not ‘confer such unbounded authority.’

The Trump administration appealed the decision to the U.S. Supreme Court, but it is unclear what goods will be subject to tariffs in the meantime, Reuters reported.

‘Foreign countries’ nonreciprocal treatment of the United States has fueled America’s historic and persistent trade deficits,’ White House spokesperson Kush Desai told FOX Business after the decision. ‘These deficits have created a national emergency that has decimated American communities, left our workers behind, and weakened our defense industrial base — facts that the court did not dispute.’ 

‘It is not for unelected judges to decide how to properly address a national emergency,’ Desai added. ‘President Trump pledged to put America First, and the Administration is committed to using every lever of executive power to address this crisis and restore American Greatness.’

FOX Business’ Greg Wehner and Bill Mears, and Reuters contributed to this report.

This post appeared first on FOX NEWS
Previous Post

E.l.f. Beauty to acquire Hailey Bieber skin care brand Rhode in up to $1 billion deal

Next Post

Senate Republicans plan hearing on Biden’s alleged cognitive decline cover-up

Next Post
Senate Republicans plan hearing on Biden’s alleged cognitive decline cover-up

Senate Republicans plan hearing on Biden’s alleged cognitive decline cover-up

  • Trending
  • Comments
  • Latest
The dollar index continues to pull back to a new low

The dollar index continues to pull back to a new low

March 20, 2025
Amazon is stepping up to fill a gap in Hollywood’s movie slate

Amazon is stepping up to fill a gap in Hollywood’s movie slate

May 1, 2025
DOGE, Treasury discover $334M in improper payment requests due to foul codes

DOGE, Treasury discover $334M in improper payment requests due to foul codes

April 30, 2025
New Trump-linked consulting firm launches in DC to navigate crypto, AI : ‘Trust, connected voice’

New Trump-linked consulting firm launches in DC to navigate crypto, AI : ‘Trust, connected voice’

April 30, 2025
I’m a physician and I’m worried that our health agencies are facing increasing chaos

I’m a physician and I’m worried that our health agencies are facing increasing chaos

0
Nvidia Stock Tumbles on Earnings Anticipation and AI Rivalry

Nvidia Stock Tumbles on Earnings Anticipation and AI Rivalry

0
The dollar index continues to pull back to a new low

The dollar index continues to pull back to a new low

0
BNGO Stock: BioNano Genomics Analysis and Forecast

BNGO Stock: BioNano Genomics Analysis and Forecast

0
I’m a physician and I’m worried that our health agencies are facing increasing chaos

I’m a physician and I’m worried that our health agencies are facing increasing chaos

May 30, 2025
Inside the late-night drama that led to Trump’s tax bill passing by 1 vote

Inside the late-night drama that led to Trump’s tax bill passing by 1 vote

May 30, 2025
Alleged attempt to impersonate White House chief of staff under federal investigation

Alleged attempt to impersonate White House chief of staff under federal investigation

May 30, 2025
Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

May 30, 2025

Recent News

I’m a physician and I’m worried that our health agencies are facing increasing chaos

I’m a physician and I’m worried that our health agencies are facing increasing chaos

May 30, 2025
Inside the late-night drama that led to Trump’s tax bill passing by 1 vote

Inside the late-night drama that led to Trump’s tax bill passing by 1 vote

May 30, 2025
Alleged attempt to impersonate White House chief of staff under federal investigation

Alleged attempt to impersonate White House chief of staff under federal investigation

May 30, 2025
Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

May 30, 2025
  • Privacy Policy
  • Terms & Conditions
  • Privacy Policy
  • Terms & Conditions

Disclaimer: Profitnewsreport.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.
Copyright © 2025 Profitnewsreport.com

No Result
View All Result
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank you

Disclaimer: Profitnewsreport.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.
Copyright © 2025 Profitnewsreport.com