Appeals Court Restores Trump Tariffs, Deepening Global Trade Uncertainty

A federal appeals panel hit the brakes on yesterday’s trade-court upset, letting President Trump keep collecting his blanket “Liberation Day” tariffs while the legal battle rages on. The administration argued a pause was vital for national security, and judges agreed—for now—overriding an earlier ruling that said only Congress can levy such broad duties. The reprieve means importers must still pay at the border, even as they watch the case hurtle toward a likely Supreme Court showdown.

Markets, whipsawed for weeks, greeted the decision with a mix of relief and resignation. Retailers and small businesses say the back-and-forth makes it nearly impossible to lock in prices or plan inventory, while trade lawyers warn the uncertainty could drag on for months. White House adviser Peter Navarro insists the tariff agenda is “alive, well, healthy,” yet analysts note every court twist raises the bar for re-imposing duties under other, more cumbersome statutes.

Trading partners aren’t standing still. Japan sits down for fresh talks in Washington on Friday, India’s negotiators land next week, and European officials are recalibrating strategies hour by hour. With $34 billion in tariff costs already booked, companies are bracing for more legal whiplash—hoping the next ruling finally plants a flag on what has become the world’s most expensive game of constitutional ping-pong.