No Result
View All Result
  • Login
Thursday, October 30, 2025
FeeOnlyNews.com
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
No Result
View All Result
FeeOnlyNews.com
No Result
View All Result
Home Business

Trump’s trade adviser says tariffs aren’t permanent after court strikes down reciprocal duties

by FeeOnlyNews.com
2 months ago
in Business
Reading Time: 3 mins read
A A
0
Trump’s trade adviser says tariffs aren’t permanent after court strikes down reciprocal duties
Share on FacebookShare on TwitterShare on LInkedIn



White House senior counselor for trade and manufacturing Peter Navarro said Sunday that President Donald Trump’s tariffs are not permanent as he sought to undercut a ruling from a federal court that dealt a major blow to the administration’s trade policy.

On Friday night, the U.S. Court of Appeals for the Federal Circuit ruled that most of Trump’s so-called reciprocal tariffs on global trading partners are illegal.

That upheld an earlier ruling by the Court of International Trade, which found that the tariffs’ legal basis under the International Emergency Economic Powers Act (IEEPA) wasn’t valid, saying that the administration’s argument for the tariffs didn’t constitute an emergency.

“Both the Trafficking Tariffs and the Reciprocal Tariffs are unbounded in scope, amount, and duration,” the majority wrote. “These tariffs apply to nearly all articles imported into the United States (and, in the case of the Reciprocal Tariffs, apply to almost all countries), impose high rates which are ever-changing and exceed those set out in the [U.S. tariff system], and are not limited in duration.”

The Trump administration is appealing the decision to the Supreme Court, and Friday’s ruling is on hold until mid-October to give the high court a chance to consider the case.

On Fox News’s Sunday Morning Futures, Navarro called the appeals court’s ruling “weaponized partisan injustice” and said the dissenting opinion in favor of the tariffs should give the White House a strong argument before the Supreme Court.

The judges who sided with the administration said IEEPA allows “broad emergency authority in this foreign-affairs realm, which unsurprisingly extends beyond authorities available under non-emergency laws.” 

Navarro also said the trade deficit does indeed constitute an emergency because it is “absolutely devastating to this country.” And he pushed back against the appeals court’s characterization of the tariffs as unlimited in duration.

“Hey memo to the court: we never said they were permanent,” he said.

If the flow of illegal drugs from China, Mexico and Canada stop, the tariffs will go away, Navarro added, likewise if the trade deficit shrinks to nothing.

In April, Trump was asked about comments from administration officials who said tariffs could be negotiated and that they were permanent.

“They can both be true,” he replied. “There could be permanent tariffs, and there could also be negotiations, because there are things that we need beyond tariffs.”

In May, Trump also said auto tariffs are permanent, but those duties weren’t affected by Friday’s court ruling as they were invoked under a different law.

He has also touted the long-term benefits of his tariffs, recently pointing to the CBO’s 10-year projection that tariffs will reduce the deficit by $4 trillion and that they will bring in enough revenue to lower the U.S. debt, which tops $37 trillion.

“The purpose of what I’m doing is primarily to pay down debt, which will happen in very large quantity — but I think there’s also a possibility that we’re taking in so much money that we may very well make a dividend to the people of America,” Trump said earlier this month.

Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list.



Source link

Tags: AdviserarentcourtdutiesPermanentreciprocalstrikestariffstradeTrumps
ShareTweetShare
Previous Post

Selling your football tickets for big money? When you can expect a 1099-K

Next Post

Is Wall Street Bullish on HEICO Corporation (HEI)?

Related Posts

AI bubble talk grips the market. But in the C-suite there’s more FOMO over AI’s benefits than fear of an AI bustup

AI bubble talk grips the market. But in the C-suite there’s more FOMO over AI’s benefits than fear of an AI bustup

by FeeOnlyNews.com
October 30, 2025
0

Hello and welcome to Eye on AI. In this edition…Nvidia becomes the first $5 trillion market cap company…Anthropic finds AI...

Undiscovered AI Stock Delivers Staggering Returns, Outperforming Tech Titans

Undiscovered AI Stock Delivers Staggering Returns, Outperforming Tech Titans

by FeeOnlyNews.com
October 30, 2025
0

HelloRF Zcool / Shutterstock.com NVIDIA Corp. (NASDAQ:NVDA) continues to remain an industry leader and the most valuable company in the world....

Cleveland-Cliffs names Korea’s Posco as new strategic partner (CLF:NYSE)

Cleveland-Cliffs names Korea’s Posco as new strategic partner (CLF:NYSE)

by FeeOnlyNews.com
October 30, 2025
0

Taitai6769/iStock via Getty ImagesCleveland-Cliffs (CLF) named South Korean steelmaker Posco Holdings (PKX) as its new strategic partner Thursday, identifying the...

The uncomfortable secret of successful people: Forget work-life balance, you have to be ‘obsessed’, ex-Wall Streeter and business coach says

The uncomfortable secret of successful people: Forget work-life balance, you have to be ‘obsessed’, ex-Wall Streeter and business coach says

by FeeOnlyNews.com
October 30, 2025
0

While casual side hustles can sometimes pay off, the most successful people prioritize their passion to turn it into profit. ...

Motilal Oswal Q2 Results: PAT plunges 68% YoY to Rs 362 crore, but posts record operating profit

Motilal Oswal Q2 Results: PAT plunges 68% YoY to Rs 362 crore, but posts record operating profit

by FeeOnlyNews.com
October 30, 2025
0

Motilal Oswal Financial Services Ltd (MOFSL) reported 68% year-on-year (YoY) decline in its consolidated net profit at Rs 362 crore....

India to approve deals worth .7b for Israeli defense missiles

India to approve deals worth $3.7b for Israeli defense missiles

by FeeOnlyNews.com
October 30, 2025
0

India's Defense Procurement Procedure Administration, headed by Minister of Defense Rajnath Singh, will meet on November 23 to approve...

Next Post
Is Wall Street Bullish on HEICO Corporation (HEI)?

Is Wall Street Bullish on HEICO Corporation (HEI)?

15 of the Worst Things to Buy at Target

15 of the Worst Things to Buy at Target

  • Trending
  • Comments
  • Latest
AB Infrabuild, among 5 cos to approach record date for stock splits. Last day to buy for eligibility

AB Infrabuild, among 5 cos to approach record date for stock splits. Last day to buy for eligibility

October 15, 2025
Housing Market Loses Steam, “National Buyer’s Market” Likely in 2026

Housing Market Loses Steam, “National Buyer’s Market” Likely in 2026

October 14, 2025
Are You Losing Out Because of Medicare Open Enrollment Mistakes?

Are You Losing Out Because of Medicare Open Enrollment Mistakes?

October 13, 2025
Coinbase boosts investment in India’s CoinDCX, valuing exchange at .45B

Coinbase boosts investment in India’s CoinDCX, valuing exchange at $2.45B

October 15, 2025
Government shutdown could drain financial advisor optimism

Government shutdown could drain financial advisor optimism

October 7, 2025
Getting Started: How to Register

Getting Started: How to Register

October 10, 2025
Shankar Sharma sees organised campaign against Lenskart. Explains why it is a steal vs Paytm, Zomato, others

Shankar Sharma sees organised campaign against Lenskart. Explains why it is a steal vs Paytm, Zomato, others

0
The Best New Skills to Learn to Future-Proof Your Career

The Best New Skills to Learn to Future-Proof Your Career

0
AI bubble talk grips the market. But in the C-suite there’s more FOMO over AI’s benefits than fear of an AI bustup

AI bubble talk grips the market. But in the C-suite there’s more FOMO over AI’s benefits than fear of an AI bustup

0
Trump cuts fentanyl tariffs on China to 10% as Beijing delays rare earth curbs

Trump cuts fentanyl tariffs on China to 10% as Beijing delays rare earth curbs

0
Canary Funds updates S-1 filing for XRP spot ETF, targeting November 13 launch

Canary Funds updates S-1 filing for XRP spot ETF, targeting November 13 launch

0
Powell forced to stave off uprisings in markets and on his own Fed board as his term ends

Powell forced to stave off uprisings in markets and on his own Fed board as his term ends

0
AI bubble talk grips the market. But in the C-suite there’s more FOMO over AI’s benefits than fear of an AI bustup

AI bubble talk grips the market. But in the C-suite there’s more FOMO over AI’s benefits than fear of an AI bustup

October 30, 2025
Canary Funds updates S-1 filing for XRP spot ETF, targeting November 13 launch

Canary Funds updates S-1 filing for XRP spot ETF, targeting November 13 launch

October 30, 2025
Powell forced to stave off uprisings in markets and on his own Fed board as his term ends

Powell forced to stave off uprisings in markets and on his own Fed board as his term ends

October 30, 2025
Trump cuts fentanyl tariffs on China to 10% as Beijing delays rare earth curbs

Trump cuts fentanyl tariffs on China to 10% as Beijing delays rare earth curbs

October 30, 2025
5 Things to Know About the Harbor Freight Credit Card

5 Things to Know About the Harbor Freight Credit Card

October 30, 2025
Undiscovered AI Stock Delivers Staggering Returns, Outperforming Tech Titans

Undiscovered AI Stock Delivers Staggering Returns, Outperforming Tech Titans

October 30, 2025
FeeOnlyNews.com

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Economy
  • Financial Planning
  • Investing
  • Market Analysis
  • Markets
  • Money
  • Personal Finance
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • AI bubble talk grips the market. But in the C-suite there’s more FOMO over AI’s benefits than fear of an AI bustup
  • Canary Funds updates S-1 filing for XRP spot ETF, targeting November 13 launch
  • Powell forced to stave off uprisings in markets and on his own Fed board as his term ends
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclaimers
  • About Us
  • Contact Us

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.