Top officials in the Trump administration on Thursday sought to minimize the impact of a U.S. trade court ruling that struck down a central element of President Donald Trump’s sweeping tariff strategy.
The officials expressed confidence that the ruling would be reversed on appeal and emphasized the administration’s readiness to explore alternative legal options in the meantime.
The U.S. Court of International Trade ruled that Trump had exceeded his presidential authority in imposing blanket tariffs on imports from virtually all countries.
The decision triggered cautious optimism in financial markets, which have been volatile throughout the ongoing trade war.
Despite the administration’s reassurances, analysts warned that the ruling has introduced fresh uncertainty into an already unpredictable trade environment.
According to a Reuters analysis, American companies have incurred more than $34 billion in losses due to reduced sales and rising costs linked to the tariffs.
Adding to the administration’s legal troubles, a second federal court in Washington, D.C., also issued a preliminary ruling against the tariffs.
U.S. District Court Judge Rudy Contreras granted temporary relief to Learning Resources, an educational toy manufacturer, blocking the tariffs from being applied to the company’s products. The judge further ruled that the company’s lawsuit could proceed in his court.
