order creates more chaos…
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A federal court on Wednesday ruled President Trump does not have the authority under economic emergency legislation to impose sweeping global tariffs.
Why it matters: The U.S. Court of International Trade's ruling could bring the administration's trade war to a screeching halt.
By blocking entirely most categories of tariffs, the court effectively wiped out most of the regime Trump put in place since taking office.
Driving the news: The court, ruling in two separate cases, issued a summary judgment throwing out all the tariffs Trump imposed under the International Emergency Economic Powers Act, or IEEPA.
Trump used the 1977 law, which had never before been invoked in a tariff situation, to unilaterally impose sweeping trade levies worldwide.
The two groups of plaintiffs — businesses and states — sued on the grounds that the president's orders violated the Constitution's grant of authority over import duties to Congress.
The administration filed a notice of appeal soon after the ruling, per multiple reports.
Zoom in: "The question in the two cases before the court is whether the International Emergency Economic Powers Act of 1977 ("IEEPA") …
"The court does not read IEEPA to confer such unbounded authority and sets aside the challenged tariffs imposed thereunder."
Tariffs imposed under a different legal authority called Section 232 — including on imports of autos, steel and aluminum — are unaffected by the ruling.
For the record: The court, which gets relatively little attention compared to most other federal courts, has jurisdiction over civil cases arising from trade disputes.
The three judges who heard the case were Reagan, Obama and Trump appointees