A court ruled against Trumps tariffs. So what? [Video]

Lawrence Herman is an international lawyer with Herman & Associates and a senior fellow at the C.D. Howe Institute in Toronto.

On Wednesday, the U.S. Court of International Trade threw a wrench into President Donald Trump’s trade machine, blocking his “Liberation Day” tariffs under the International Emergency Economic Powers Act (IEEPA), shutting down the so-called fentanyl and immigration duties as well as the 25-per-cent tariffs on non-CUSMA-compliant goods from Canada and the 10-per-cent baseline tariffs against the world. At least for now.

The decision was firm and decisive in saying that the orders were illegal under that statute. But the administration is appealing that decision to the Court of Appeals and, win or lose, the case will end up in the U.S. Supreme Court. The White House has successfully sought a stay of the ruling. All of this means it will take some time before this saga reaches judicial conclusion. In the meantime, uncertainty abounds.

It should also be …