But amid a steep stock market selloff on April 21 over the lack of progress on such deals, the Office of the US Trade Representative released a statement saying the US and India had agreed on terms to “lay down a roadmap” for future trade talks. At the Court of International Trade, five small businesses that import goods from impacted countries sued the administration, arguing that Trump overstepped his authority in imposing the tariffs on the grounds of a “national emergency.” The court will hear arguments in Washington, DC, on May 6 and has ruled that the tariffs can remain in place as the case proceeds. Given the distinct possibility that the tariffs could be overturned – or temporarily enjoined – by a judge, many trading partners have approached the negotiations with the Trump administration in a cautious manner, unwilling to barter on specific terms.
Author: Kayla Tausche
Published at: 2025-04-23 21:58:50
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