A US court has temporarily blocked President Donald Trump's tariffs, calling them illegal.
According to foreign media, Judges of the US Court of International Trade, based in Manhattan, have ruled that the order announced by Trump to impose tariffs does not give him the power to unilaterally impose tariffs on goods coming from abroad. The trade world thanks the wine sector for this decision. The appeal against the President's decisions was actually made by a New York-based wine importer, VOS Selections, along with a number of other small companies, writes A2 CNN.
Victor Schwartz, the owner, selects and imports wines from 16 countries, as he has done with his family for nearly 40 years. His portfolio includes valuable labels from France, Spain, Argentina, Austria and, of course, Italy, with names like Brunello da Montalcino Maté, Barolo dei Poderi Roset and Franciacorta Ricci Curbastro. He is a well-versed entrepreneur, but he has found himself disoriented by Donald Trump’s pirouettes on tariffs, which seem to change at random. The alcohol industry in the US is highly regulated; Schwartz is supposed to set prices with New York State, but with new rules imposed by the President, that has become impossible.
When it came to pricing for May, following the fireworks tariffs for Liberation Day, the importer’s challenge became mission impossible. As he explained in an interview, he and a team of 19 associates looked at hundreds of products in the portfolio based on stock-keeping unit codes to try to determine the impact of the tariffs on the products. “We had to think like we were looking into a cloudy crystal ball to figure out what our costs would be, what the impact on sales would be, and how much a given product could afford in terms of price increases,” he said, according to A2 CNN.
Eventually they reached the point where the company was facing a huge loss. “And we decided to tackle the problem head-on,” he said. So he and other business owners in similar situations filed a lawsuit against Trump and his administration over the tariffs. Now three judges on the Court of International Trade have ruled that Trump’s decision was a prerogative of Congress and that the president abused his power. In the US, they can raise their glasses in a toast, at least for now, as the White House has already announced that it will appeal to overturn the judges’ decision.
(A2 Televizion)
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