Feb 22 • 04:14 UTC 🇰🇷 Korea Hankyoreh (KR)

US Supreme Court's Ruling on Customs Tariffs Draws Varied Reactions from Countries: 'Trade Bazookas' or 'No Change'

The US Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act by President Trump were unlawful, eliciting mixed responses from countries around the world.

On October 20, the US Supreme Court delivered a significant ruling indicating that the tariffs imposed by President Donald Trump under the International Emergency Economic Powers Act (IEEPA) were found to be unlawful. This determination prompted a variety of reactions from different countries, highlighting the complexities of global trade relations. For instance, France's Trade Minister, Nicolas Forissier, emphasized the need for a united response from the European Union to counter such measures, insisting that they should no longer be passive or dependent on the US, especially amidst threats of additional tariffs on a global scale.

Meanwhile, in the Southeast Asian region, countries expressed their intention to maintain existing negotiations rather than alter their approach in response to the ruling. Forissier stressed that if necessary, the EU possessed a range of trade defense mechanisms, referred to as 'trade bazookas', which include significant measures such as import restrictions and freezing patents. These comments reflect the EU's readiness to act in favor of its economic interests and assert its position in the face of US trade policies.

German Chancellor Friedrich Merz also commented on the ruling, stating his expectations for a reduction in tariff burdens on the German economy, pointing out that tariffs generally harm all parties involved. Furthermore, the European Parliament is convening an emergency meeting to reassess trade agreements with the US, while India is considering its next steps following the ruling, indicating the global implications of the Supreme Court's decision and its potential to reshape international trade dynamics.

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