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of <h1>Landmark Ruling Limits Presidential Trade Authority, Restricts Unilateral Import Tariff Impositions Under Emergency Economic Powers Act</h1> A US court ruled against presidential tariff powers, blocking sweeping import duties under the International Emergency Economic Powers Act. Financial markets responded positively, with stock futures, oil prices, and the US dollar rising. The ruling challenged trade policies that had created global economic uncertainty, though the White House immediately appealed. Asian markets and international investors welcomed the decision, seeing it as potential relief from ongoing trade tensions.
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