Court stops Trump's tariffs: Triumph small business owners!

Court stops Trump's tariffs: Triumph small business owners!

A federal court in New York decided on Tuesday that the tariffs recently introduced by President Trump are void on imports from several countries. This determined that the president exceeded his powers. As Tagesschau , several small US companies, including a wine and spirits importer and a manufacturer of school sets and musical instruments, have sued the tariffs.

The court decided that only the US Congress had the right to issue trade regulations, while the president's emergency powers cannot exceed them. In addition, the lawsuit is regarded as one of a total of seven challenges of Trump's customs policy. As a result of the judgment, the markets are optimistic; The US dollar gains value compared to the Swiss franc and the Japanese yen.

reactions from the economy

The decision also made waves in the US economy. The deputy chief of staff of the White House, Stephen Miller, clearly criticized the court decision. He argues that the tariffs are necessary to protect jobs found abroad. In the fashion industry and other small companies, however, there is fear that the tariffs will lead to financial burdens and possibly result in layoffs, as Catherine Licari, founder of "The Small Business Planner".

The lawsuit and the associated economic fears reflect broader dissatisfaction with the tariffs and the influence on the local economy. While tariffs are originally intended to promote the purchase of American products, many small companies are dependent on foreign goods. Entrepreneurs such as Annie Bassin and Allard van Hoorn had to outsource their production and relieve employees due to increasing tariffs.

public and political reactions

The reactions to the customs regulation are not only economically, but also politically motivated. President of President Trump's policy can be observed nationwide, accompanied by concerns about the effects on democracy. Bryan Szeliga, a fish seller from Philadelphia, has also expressed concerns that the tariffs could burden his business and calls for more transparent use of the income generated by tariffs that have been $ 34 billion since 2015.

In addition, the future of trade relationships between the USA and other countries appears unsafe. In the context of a possible increase in customs on imports from Canada and Mexico as well as on EU products, the overall economic situation could continue to be more complicated. Tagesschau points out that the US tariffs are typically lower than the European exposure, but at the same time a number of problems for domestic and foreign companies can result.

The legal and economic developments in tariffs are pursued with excitement, since they can not only have immediate consequences for companies, but also far -reaching effects on the entire economic climate in the USA and beyond