US Court Blocks Trump's Tariffs, Musk Exits White House Amidst Tax Policy Dispute

A US federal trade court has dealt a significant blow to President Donald Trump's authority by blocking his global tariffs plan. The ruling, handed down in a Manhattan court, states that the tariffs are the exclusive domain of Congress, rejecting Trump's justification of a national emergency. Jeffrey Schwab, Senior Counsel for the Liberty Justice Center, described the decision as "a huge problem" for businesses and consumers alike. The White House has already appealed the ruling, suggesting the dispute may reach the Supreme Court. Separately, Elon Musk, former chair of a Trump-appointed committee focused on government spending, has left the administration, citing disagreements over tax policies. While global markets have shown a relatively muted response, with Asian markets closing slightly up and major European indices mixed, the dollar's decline against other currencies ironically makes American exports more competitive. Musk's departure, he claims, is simply due to the end of his contract, but tensions between him and the President over tax policy have been well-documented.