The U.S. Court of International Trade said the president had overstepped his authority in imposing his “reciprocal” tariffs globally, as well as levies on Canada and Mexico.

https://www.nytimes.com/2025/05/28/business/trump-tariffs-blocked-federal-court.html

fishlessman said:

just started a job building a large odd shaft for a rock crushing machine that was originally built in japan. the shaft broke and the japanese company refuses to ship a new one to north america its worth about 40k in my shop thanks to the tariffs. my first run-in with the tariffs was good, not so good if they are now gone.

side note, what does japan have against the 51st state.....

DoubleEgger said:

fishlessman said:

just started a job building a large odd shaft for a rock crushing machine that was originally built in japan. the shaft broke and the japanese company refuses to ship a new one to north america its worth about 40k in my shop thanks to the tariffs. my first run-in with the tariffs was good, not so good if they are now gone.

side note, what does japan have against the 51st state.....

How about using those proceeds to buy yourself a phone with a better camera… 

A three-judge panel of the U.S. Court of International Trade yesterday unanimously ruled that several of the tariffs imposed by Trump “exceed any authority granted to the President by [the International Emergency Economic Powers Act of 1977].” The court’s decision nullifies Trump’s orders imposing a 10% tariff on all U.S. trading partners, “reciprocal” tariffs on 60-odd trading partners, and tariffs on Canadian, Mexican, and Chinese products imposed in response to a purported drug trafficking emergency. The DOJ has appealed the ruling. Doug Palmer, Kyle Cheney, and Josh Gerstein report for POLITICO.

A federal judge yesterday temporarily blocked the Trump administration from dismantling the legal protections for Ukrainians, Afghans, and some South and Central American migrants who entered the United States under Biden-era programs. Zach Montague, and Jazmine Ulloa report for the New York Times.

The Trump administration’s effort to deport pro-Palestinian activist Mahmoud Khalil was likely unconstitutional, a federal judge ruled yesterday. In his decision, the judge stopped short of ordering Khalil’s release, telling Khalil’s attorneys to present further legal arguments for why he should be released. Erica Orden reports for POLITICO.

A federal judge yesterday rejected a request from the former head of the U.S. Copyright Office, Shira Perlmutter, for an order temporarily reinstating her to her former position. Katherine Tully-McManus reports for POLITICO.

A federal judge yesterday said she would grant bail to Kseniia Petrova, a Russian scientist working at Harvard University who immigration authorities stripped of her visa over Petrova’s failure to declare scientific samples she was carrying into the country. Ellen Barry reports for the New York Times.

Trump administration attorneys yesterday said government officials are complying with a federal judge’s orders to return a wrongly deported Guatemalan man to the United States. The judge previously ordered the government to take “all immediate steps” to facilitate the man’s return. Maria Sacchetti reports for the Washington Post."

Botch said:

It would be childish of me to suggest typing "taco trump meme" into googlez imagez search, so I won't.  

David A. Graham Staff writer

One way to trace the past nine years of Donald Trump is the journey from taco bowls to TACO bulls. (Hey, don’t click away! This is going somewhere!)

Back in May 2016, the then–GOP presidential candidate posted a picture of himself eating a Trump Tower Tex-Mex entree. “I love Hispanics!” he wrote. Nearly everyone understood this as an awkward pander.

Now, in May 2025, Wall Street is all over the “TACO trade,” another instance of people realizing they shouldn’t take the president at face value. “TACO” is short for “Trump always chickens out.” Markets have tended to go down when Trump announces new tariffs, but investors have recognized that a lot of this is bluffing, so they’re buying the dip and then profiting off the inevitable rally.

A reporter asked Trump about the expression on Wednesday, and he was furious. “I chicken out? I’ve never heard that,” he said. “Don’t ever say what you said. That’s a nasty question. To me, that’s the nastiest question.” The reaction demonstrates that the traders are right, because—to mix zoological metaphors—a hit dog will holler. The White House keeps talking tough about levying new tariffs on friends and geopolitical rivals alike, but Trump has frequently gone on to lower the measures or delay them for weeks or months.

Foreign leaders had figured out that Trump was a pushover by May 2017, and a year later, I laid out in detail his pattern of nearly always folding. He’s a desirable negotiating foil, despite his unpredictable nature, because he doesn’t tend to know his material well, has a short attention span, and can be easily manipulated by flattery. The remarkable thing is that it’s taken this long for Wall Street to catch on.

Even though no president has been so purely a businessman as Trump, he and the markets have never really understood each other. That is partly because, as I wrote yesterday, Trump just isn’t that good at business. Despite much glitzier ventures over the years, his most effective revenue sources have been rent collection at his legacy properties and rent-seeking as president. His approach to protectionism is premised on a basic misunderstanding of trade.

Yet Wall Street has never seemed to have much better of a grasp on Trump than he has on them, despite having many years to crack the code. (This is worth recalling when market evangelists speak about the supposed omniscience of markets.) Financiers have tried to understand Trump in black-and-white terms, but the task requires the nuanced recognition, for example, that he can be deadly serious about tariffs in the abstract and also extremely prone to folding on specifics.

Although they disdained him during his first term, many titans of industry sought accommodation with Trump during his 2024 campaign, hoping he’d be friendlier to their interests than Joe Biden had been. Once Trump’s term began, though, they were taken aback to learn that he really did want tariffs, even though he’d been advocating for them since the 1980s, had levied some in his first term, and had put them at the center of his 2024 campaign.

Trump’s commitment to tariffs, however, didn’t mean that he had carefully prepared for them or thought through their details. The administration has announced, suspended, reduced, or threatened new tariffs on China, Mexico, Canada, and the European Union. All of this volatility is ostensibly a product of ongoing negotiations, but in many cases, it’s also a response to market turmoil or because of a lack of clarity about details. (This week, two federal courts also ruled that the president was overstepping his authority by implementing tariffs under emergency powers.)

This is where the TACO trade comes in. Rather than panicking over every twist and turn, investors have begun to grasp the pattern. But every Wall Street arbitrage eventually loses its power once people get hip to it. In this case, the fact that Trump has learned about the TACO trade could be its downfall. The president may be fainthearted, but his track record shows that he can easily be dared into taking bad options by reporters just asking him about them.

One can imagine a bleak scenario here: Trump feels shamed into following through on an economically harmful tariff; markets initially don’t take him seriously, which removes any external pressure for him to reverse course. Once investors realize that he’s for real this time, they panic, and the markets tank. If the president stops chickening out, both Wall Street and the American people won’t be able to escape the consequences of his worst ideas."

Canugghead said:

Can someone decipher WONTON (not Wanton) pleeeeeeese 

"A federal judge yesterday temporarily paused the Department of Homeland Security’s effort to end the collective bargaining agreement covering thousands of airport transportation security officials. The judge ruled that Homeland Security Secretary Kristi Noem’s justification for terminating the union contract with the American Federation of Government Employees was “threadbare” and “retaliatory.” Tami Luhby reports for CNN.

A federal judge yesterday issued a preliminary injunction blocking the Trump administration from deporting Venezuelan migrants under the Alien Enemies Act in the Los Angeles area, ruling that the government did not promise the migrants adequate process. However, the judge also said the plaintiffs were unlikely to show the Trump administration invoked the Alien Enemies Act illegally, writing that under the law it is up to the President and not for courts to define what the terms of the Act mean. Joe Walsh reports for CBS News.

The Trump administration has been slow to spell out how it is using DNA technology to help find and arrest immigrants, three privacy and immigration rights groups allege in a lawsuit against the DHS filed yesterday. Suzanne Gamboa reports for NBC News."