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Globe says Algoma Steel sees court undo Trump's tariffs

2025-09-02 06:27 ET - In the News

See In the News (C-ASTL) Algoma Steel Group Inc

The Globe and Mail reports in its Saturday edition that a U.S. appeals court has struck down the core of President Donald Trump's tariff strategy. The Globe's Adrian Morrow and Mark Rendell write that the ruling, issued Friday by a Washington-based federal appeals court, puts into doubt the centrepiece of Mr. Trump's protectionist economic strategy and could undo informal trade deals he has cut with the European Union, Japan, South Korea and imposed across-the-board tariffs on many other countries. It covers the President's use of the International Emergency Economic Powers Act (IEEPA) to impose what he dubbed "reciprocal" tariffs, including a "baseline" 10-per-cent levy on nearly every country in the world as well as higher tariffs on some. The ruling does not apply to Mr. Trump's tariffs on steel, aluminum, autos and copper, which were imposed under Section 232 of the Trade Expansion Act. The 7-4 decision by the U.S. Court of Appeals for the Federal Circuit will not take effect until October and Mr. Trump immediately vowed to appeal, making it likely that the Supreme Court will have the final word. The President responded on Truth Social, "This Decision would literally destroy the United States of America."

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