stock market up bigly tomorrow?
The U.S. Court of International Trade ruled Wednesday that President Donald Trump overstepped his authority over tariffs under the International Emergency Economic Powers Act (IEEPA).
"The Constitution assigns Congress the exclusive powers to ‘lay and collect Taxes, Duties, Imposts and Excises,’ and to ‘regulate Commerce with foreign Nations,’" the court opined. "The question in the two cases before the court is whether the International Emergency Economic Powers Act of 1977 ("IEEPA") delegates these powers to the President in the form of authority to impose unlimited tariffs on goods from nearly every country in the world.
