Tidbits, Corn Market, Tariff Injunction, Sterile Flies, Consensus 5/29/25
- Wright team
- 4 days ago
- 4 min read
Tidbits
A U.S. trade court on Wednesday blocked President Donald Trump's tariffs from going into effect in a sweeping ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy.
The Court of International Trade said the U.S. Constitution gives Congress exclusive authority to regulate commerce with other countries that is not overridden by the president's emergency powers to safeguard the U.S. economy.
Three-judge panel ordered the Trump administration to issue new orders reflecting the permanent injunction within 10 days. The Trump administration minutes later filed a notice of appeal.
India has proposed substantial tariff cuts to the U.S. to avoid a potential 26% reciprocal tariff starting July 9, but it will protect key agricultural sectors by maintaining high duties of up to 80% on U.S. rice and up to 60% on dairy. In return, India seeks the U.S. to lower tariffs on labor-intensive exports like textiles, leather, and handicrafts, and aims for exemptions from U.S. social security payments for short-term.
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