🌐 Global Economy May 7, 2026 · Menzie Chinn

Section 122 Tariffs Struck Down

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Section 122 Tariffs Struck Down
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From Bloomberg:
President Donald Trump’s 10% global tariffs were declared unlawful by a federal trade court in a fresh blow to the administration’s economic agenda, several months after the US Supreme Court vacated earlier levies he’d imposed.
A divided three-judge panel at the US Court of International Trade in Manhattan on Thursday granted a request by a group of small businesses and two dozen mostly Democrat-led states to vacate the tariffs. Trump imposed the 10% duties in February under Sect

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