A US appeals court ruled that most tariffs imposed by Donald Trump under emergency powers are illegal. The ruling comes days after new 50% tariffs on Indian imports began. However, the tariffs will remain until October 14, giving the Trump administration time to appeal.

BulletsIn

• US Court of Appeals says tariffs under IEEPA unconstitutional
• Congress holds sole power to impose tariffs, not President
• 50% tariff on Indian steel, aluminium stays under Section 232
• Reciprocal 25% tariffs on India now legally questioned
• Tariffs on Indian imports of Russian oil also challenged
• Ruling follows lawsuits from US states, small businesses
• Court of International Trade earlier declared tariffs unlawful
• Trump used IEEPA citing urgency, faster than other trade laws
• Experts say IEEPA never fit for tariffs, just bought time
• US trade intent unchanged, legal fights may delay rollbacks