Citing people familiar with the matter, the Wall Street Journal (WSJ) reported late Thursday, “US President Donald Trump's administration is considering an existing law that includes language allowing for tariffs of up to 15% for 150 days.”
“The administration has not made a final decision and it could wait to impose any plans,” the WSJ reported.
This came after a US federal court blocked on Wednesday Trump's "Liberation Day" tariffs from going into effect. Later, the US Court of Appeals for the Federal Circuit in Washington said it was pausing the lower court's ruling to consider the government's appeal, and ordered the plaintiffs in the cases to respond by June 5 and the administration by June 9, per Reuters.
Market reaction
Following this headline, the Greenback turned south again versus its major rivals, with the US Dollar Index (DXY) falling as low as 99.10. The index was last seen trading at 99.40, up 0.08% on the day.
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