Trump officials minimize the court ruling that blocked radical rates

The senior officials of the Trump administration minimized on Thursday the impact of a ruling of the commercial court of the United States that blocked the rates of President Donald Trump, expressing his confidence that would revoke himself in the appeal and insisted that there are other legal routes to use in the meantime.

The financial markets, which have whipped wildly in response to each turn and turn in Trump's chaotic commercial war, reacted with a cautious optimism on Thursday, a day after the United States International Trade Court ruled that Trump exceeded his authority by imposing punitive rates in practically all countries of the world.

But analysts said that wide uncertainty about the future of Trump tariffs were maintained, which have cost companies more than $ 34 billion in lost sales and high costs, according to a reuters analysis.

Meanwhile, a second court of the United States issued a preliminary decision against tariffs on Thursday, temporarily blocking those of entering into a case presented by the educational learning resources of the toy manufacturer.

The judge of the United States District Court, Rudy Contreras, issued a closer decision that did not blocked the rates completely, but prevented the tariffs from being imposed on the toy company and ruled that his challenge could remain in his federal court in Washington, DC.

The Administration immediately requested a Court of Appeals to remain in the ruling of the Trade Court on Wednesday and allow the tariff regime to remain in place. Trump has put tariffs at the center of his effort to extract concessions from US business partners, including traditional allies such as the European Union.

The Economic Advisor of the White House, Kevin Hasters, expressed his confidence that the ruling would be reversed in an interview with Fox Business Network on Thursday. He also said that he would not interpose on the way to sign new commercial agreements.

“If there are small problems here or there due to the decisions made by the activist judges, then they should not worry at all, and it will certainly not affect the negotiations,” said Hassett.

In fact, at least two sets of scheduled commercial conversations seemed affected by the ruling. Japan's commercial negotiator is scheduled to meet with the United States Secretary of the Treasury, Scott Besent in Washington, on Friday for a fourth round of conversations, while India still plans to send a commercial team to Washington next week for conversations, said a commercial official from India to Reuters.

The White House commercial advisor, Peter Navarro, a firm defender of the highest tariffs, told Bloomberg TV that the Trump administration could trust other laws to implement import taxes if the court decision remains in place.

Trump had invoked the International Law on Emergency Economic Powers (IEEPA), a law destined to address threats during national emergencies, to impose tariffs on almost all commercial partners of the United States, which increases fear of a global recession. The president temporarily suspended many of the rates until the beginning of July after the markets fainted in response.

The court determined that the Emergency Powers Law does not grant Trump unilateral power to order such radical tariffs. Some specific tariffs in the sector, such as those that Trump has imposed on steel, aluminum and cars, were imposed under the authorities separated by national security land and were not affected by the ruling.

Canadian Prime Minister Mark Carney welcomed the decision, saying that it was “consistent with the long -standing position of Canada” that Trump's tariffs were illegal.

Other US business partners offered careful responses. The British government said the ruling was a domestic issue for the administration of the United States and pointed out that it was “only the first stage of legal procedures.”

Both Germany and the European Commission said they could not comment on the decision.

Several analysts said it was preliminary to conclude that this closes the door completely in Trump's radical tariffs, with legal paths other than IEEPA probably at their disposal.

“We suspect that the administration will support other legal authorities to maintain tariff levels around current levels,” Bernard Yaros wrote, an Ee. UU. In Oxford Economics, he wrote in a note to customers on Thursday.

Some companies and industry groups expressed exasperation in the middle of the continuous uncertainty about how the tariff saga will develop.

The ruling is “only another chapter in this difficult trip to a clear, consistent and strategic commercial policy,” said Jonathan Gold, vice president of the National Commerce Group of the Retail Federation.

After causing an initial increase in stocks in Asia, the ruling stimulated the most silenced reactions in Europe, where the indices were largely flat, and in the USA., Where the profits were modest. The S&P 500 rose approximately 0.4%, since it had returned more than half of its initial increase in the opening bell.

An early rally in the dollar also failed and Greenback was approximately 0.5% lower in front of a basket of the main commercial partners. Bond yields also decreased.

After a market revolt after its great rates announcement on April 2, Trump paused most import tariffs for 90 days and said it would highlight bilateral agreements with commercial partners.

But apart from a pact with Great Britain this month, the agreements are still difficult to reach, and the suspension of the Tariff Court can deter countries like Japan from hurrying agreements, analysts said.

“Assuming that an appeal is not successful in the next few days, the main victory is time to prepare, and also a limit in the amplitude of tariffs, which cannot exceed 15% at the moment,” said George Lagarias, chief economist of the international advisors of Forvis Mazars.

Trump's trade war has shaken manufacturers from everything, luxury bags and sports shoes to appliances and cars as the price of raw materials has increased, supply chains have been interrupted and the strategies of the company written.

Diageo Drink CompanyOpen a new tab AND GENERAL MOTOR AGO MANUFACTANTSOpen a new tab and Ford are among those who have abandoned the forecasts for next year.

Non -American companies, including HondaOpen a new tabCampari, and Roche pharmaceutical companies, and Novartis have said that they are considering moving operations or expanding their presence in the United States to mitigate the impact of tariffs.