The ruling amounted to a categorical rejection of the legal underpinnings of some of Trump's signature and most controversial actions of his four-month-old second term. The administration swiftly filed notice of appeal — and the Supreme Court will almost certainly be called upon to lend a final answer — but it casts a sharp blow.
For now, Trump might not have the threat of import taxes to exact his will on the world economy as he had intended, since doing so would require congressional approval. Trump might still be able to temporarily launch import taxes of 15% for 150 days on nations with which the U.S. runs a substantial trade deficit. The ruling notes that a president has this authority under Section 122 of the Trade Act of 1974.
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