30.05.2025 (12:01 PM)

Stock markets rose on May 29 after a U.S. federal judge blocked most of Trump’s sweeping import tariffs from taking effect, even as the White House appealed the decision by unelected judges.

The judge’s decision is a major setback for Trump. The federal judges’ decision is a major setback for Trump as he seeks to reshape the U.S. trade relationship with the world by imposing steep new tariffs and bringing governments to the negotiating table.

The tariffs, which are designed to punish countries that buy less from the United States and sell more to the United States, have wreaked havoc on financial markets.

Trump said the trade deficits and the threat posed by the influx of various drugs, which has become a national emergency, justify the broad tariffs.

The three-judge International Trade Court ruled that Trump had exceeded his authority, blocking most of the restrictions he has imposed since he took office in January.

The White House criticized the federal court’s decision, saying that unelected judges have no say in Trump’s handling of the issue.

“President Trump has promised to put America first. This administration will use the power of every executive order to address this crisis and make America great again,” said Trump spokesman Kash Desai.

Lawyers for the Trump administration immediately appealed the federal court’s decision on May 28.

Stephen Mueller, one of Trump’s closest White House aides, criticized the move on social media as an uncontrollable legal coup.

Trump announced tariffs on most trading partners on April 2, starting at 10 percent on basic imports. The tariffs, which are levied on China and the European Union, are the largest. Judges have also blocked tariffs imposed by Trump on Canada, Mexico and China through emergency orders.