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A federal appeals court ruled Friday that President Donald Trump had no legal right to impose sweeping tariffs on almost every country on earth but left in place for now his effort to build a protectionist wall around the American economy. The US Court of Appeals for the Federal Circuit ruled Trump wasn't legally allowed to declare national emergencies and impose import taxes on almost every country on earth, a ruling that largely upheld a May decision by a specialised federal trade court in New York. It seems unlikely that Congress intended to ... grant the President unlimited authority to impose tariffs, the judges wrote in a 7-4 ruling. But they did not strike down the tariffs immediately, allowing his administration time to appeal to the Supreme Court. The president vowed to do just that. If allowed to stand, this Decision would literally destroy the United States of America, Trump wrote on his social medial platform. White House spokesman Kush Desai said Trump had acted lawfu
The US government's gross national debt has surpassed USD37 trillion, a record number that highlights the accelerating debt on America's balance sheet and increased cost pressures on taxpayers. The USD37 trillion update is found in the latest Treasury Department report issued Tuesday which logs the nation's daily finances. The national debt eclipsed USD37 trillion years sooner than pre-pandemic projections. The Congressional Budget Office's January 2020 projections had gross federal debt eclipsing USD37 trillion after fiscal year 2030. But the debt grew faster than expected because of a multi-year COVID-19 pandemic starting in 2020 that shut down much of the U.S. economy, where the federal government borrowed heavily under then-President Donald Trump and former President Joe Biden to stabilise the national economy and support a recovery. And now, more government spending has been approved after Trump signed into law Republicans' tax cut and spending legislation earlier this year. Th
President Donald Trump has removed former US Rep Billy Long as IRS commissioner less than two months after his confirmation, a White House official said Friday. The official, who was not authorised to speak publicly and spoke on condition of anonymity, did not give a reason for the dismissal. Treasury Secretary Scott Bessent will serve as acting commissioner, the official said. The Senate confirmed Long on a 53-44 vote despite Democrats' concerns about the Republican's past work for a firm that pitched a fraud-ridden coronavirus pandemic-era tax break and about campaign contributions he received after Trump nominated him. While in Congress, where he served from 2011 to 2023, Long sponsored legislation to get rid of the IRS. A former auctioneer, Long has no background in tax administration.
The US Treasury Department on Tuesday imposed sanctions on a major Palestinian legal group for prisoners and detainees along with five other charitable entities across the Middle East, Africa and Europe, accusing them of supporting militant groups, including Hamas' military wing, under the pretense of humanitarian aid in Gaza. Those sanctioned include Addameer, a nongovernmental organisation that was founded in 1991 and is based in the city of Ramallah in the Israeli-occupied West Bank. The Palestinian group provides free legal services to Palestinian political prisoners and detainees in Israeli custody and monitors the conditions of their confinement. The federal government claims that Addameer has long supported and is affiliated with the Popular Front for the Liberation of Palestine, a secular, left-wing movement with a political party and an armed wing that has carried out deadly attacks against Israelis. Israel and the United States have labelled the PFLP a terrorist ...