Americas News
Crude Futures Jump as US Court Blocks Trump Administration's Tariff Changes
A court in the US has invalidated President Donald Trump's changes to tariffs on imports from other countries.
The US Court of International Trade found on Wednesday that the Trump Administration did not have the authority to set tariffs using emergency economic powers legislation.
The ruling is set to be appealed, and no changes to tariffs will be made until the appeal process is complete.
The administration's tariffs, and tariffs imposed by other countries in response to the US, have raised concerns over their ramping-up leading to slower global economic growth.
A range of global markets jumped on Thursday morning in response to the ruling. ICE Brent crude futures traded at $65.92/bl as of 7:01 AM in London, up by $1.02/bl from Wednesday's close.
