This episode of The Journal discusses the U.S. Court of International Trade's ruling against President Trump's use of the International Emergency Economic Powers Act (IEPA) to impose sweeping tariffs. The ruling, which is being appealed, challenges Trump's authority to enact tariffs by declaring a national emergency. The episode features insights from legal reporter James Fanelli, who explains the lawsuit brought by small businesses, and trade reporter Gavin Bade, who analyzes the potential impact on trade negotiations and the administration's possible alternative strategies using the Trade Act of 1974. The uncertainty surrounding Trump's trade policies and the potential implications for businesses and international relations are also discussed.
