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Trump Administration Live Updates: Mexico Gets 90-Day Extension as Tariff Deadline Looms
By their reading, the emergency powers act permits the president to wield tariffs as a bargaining chip, and government lawyers told the court that it owed “substantial deference” to Mr. Trump on how to respond to a national emergency. The White House did not respond to a request for comment for this article.
The president's trade policies are wreaking havoc on the American auto industry. Another automaker, Stellantis, also reported losses this week.
On Thursday, he raised tariffs on Canadian imports to 35%, effective Aug. 1, and he announced 30% tariffs on goods from the European Union and Mexico on Saturday.
In early April, Trump announced high tariffs on countries around the world but paused implementation for 75 countries, including Sri Lanka, initially facing a 44 percent tariff, for 90 days.
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