In case you missed it: Federal trade court strikes down Trump’s reciprocal tariffs
The U.S. Court of International Trade on Wednesday blocked steep reciprocal tariffs unilaterally imposed by President Donald Trump on scores of countries in April to correct what he said were persistent trade imbalances.
The ruling deals a potentially serious blow to the Republican president’s economic agenda and ongoing efforts to negotiate trade deals with various nations.
Read the full story here.
— Christina Wilkie, Erin Doherty, Lora Kolodny, Kevin Breuninger
Futures move higher after Trump’s tariffs blocked
Good morning from London. It’s just over an hour until European financial markets open, and equities listed in the region look set to move higher when trade kicks off.
Futures tied to the German DAX index were last seen trading 1.2% higher, while FTSE 100 futures gained 0.8% and those tied to France’s CAC 40 were up by 0.2%.
Pan-European Stoxx 600 futures have jumped 1.3%.
The moves come after the U.S. Court of International Trade on Wednesday blocked President Donald Trump from imposing his swathe of country specific tariffs — policies that could see some countries soon hit with import duties exceeding 40%.
— Chloe Taylor
