Tariff crisis

US-China relations
China pauses additional tariff – retains fee

China is pausing the additional tariff rate of 24 percent on American goods for one year. However, the country will maintain a fee of 10 percent. This is stated by the country's Treasury Department, according to several media outlets.

In addition, punitive tariffs on American agricultural products such as soybeans, corn, wheat and chicken will cease, the department further states.

Trump's tariff policy
Trump's tariffs meet skepticism in the Supreme Court: "They are taxes"

Trump's tariffs meet skepticism from liberal judges in the US Supreme Court, reports CNBC. Attorney General D John Sauer claims during the negotiations that Trump's "reciprocal" tariffs, which were introduced with the support of the crisis law IEEPA, are regulatory and not revenue-generating. According to Sauer, the fact that they generate revenue is an unintended side effect.

Liberal judge Sonia Sotomayor objects that the tariffs generate money from American citizens.

– You say they are not taxes, but that is exactly what they are, Sotomayor tells Sauer during the negotiations.

The US Supreme Court has three liberal judges and six conservatives.

Trump's tariff policy
“Reasonable” with a decision before the New Year – could take until July

A final decision on the Trump administration's tariffs could take as long as July, when the Supreme Court's term ends. Politico reports.

But several lawyers and legal representatives the site spoke to hope that a decision will come much sooner than that. Especially considering the effect a ruling has on the rest of the world.

– It is very reasonable to think that a decision will be made before the end of the year, if not much, much earlier than that, says Jeffrey Schwab, senior counsel at the Liberty Justice Center, which represents several companies in the legal process.