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A U.S. federal court has blocked most of Donald Trump's import tariffs, ruling that he overstepped his authority by imposing sweeping levies under the International Emergency Economic Powers Act. The court deemed the interpretation of the act as unconstitutional, halting the tariffs and giving the White House 10 days to suspend them. Trump's administration has criticized the ruling as a "judicial coup" and plans to appeal, marking a significant setback for his trade agenda.
Goldman Sachs has raised the probability of a U.S. recession to 35%, citing deteriorating consumer and business confidence, and the economic impact of higher tariffs. The bank anticipates three interest rate cuts this year, despite inflation concerns, as it shifts focus to labor market issues and growth stagnation. Meanwhile, Moody's Mark Zandi has increased recession odds to 40%, suggesting a potential "recession by design" due to current policies.
Kush Desai
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court blocks trumps import tariffs citing overreach of executive authority
06:16 29.05.2025
goldman sachs raises recession odds to 35 amid tariff concerns and inflation
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14:54 31.03.2025
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