{"text":[[{"start":7.75,"text":"Donald Trump’s 10 per cent global tariffs have been ruled illegal by a US court, striking a fresh blow to the president’s flagship economic agenda as he battles to raise levies on trading partners."}],[{"start":19.9,"text":"The US Court of International Trade ruled on Thursday that the 10 per cent tariffs, imposed under Section 122 of the Trade Act of 1974, were “unauthorized by law”."}],[{"start":32.2,"text":"The court did not suspend the tariffs broadly, instead only suspending them for the two companies that brought the case."}],[{"start":39.400000000000006,"text":"The ruling is the latest legal setback for Trump’s trade policy after the US Supreme Court earlier this year ruled the president could not issue tariffs using emergency economic powers."}],[{"start":50.2,"text":"Section 122 allows the president to impose tariffs of up to 15 per cent for 150 days to address “large and serious balance-of-payments deficits”."}],[{"start":60.95,"text":"Judges at the CIT in New York came to their decision by weighing what Congress meant by “balance-of-payments deficits” when they wrote the legislation in 1974. "}],[{"start":71.3,"text":"Lawyers representing the businesses bringing the case argued that a trade deficit and a serious balance-of-payments crisis were not the same. "}],[{"start":79.55,"text":"The founders of one of the companies hailed the ruling as “a major victory for small businesses like ours that depend on fair and predictable trade policy”."}],[{"start":88.64999999999999,"text":"“Today’s decision helps ensure that businesses like ours are not unfairly burdened by unlawful trade restrictions,” they added."}],[{"start":95.6,"text":"Dan Anthony, executive director of the campaign group We Pay the Tariffs, said the ruling was “more positive news for the small businesses that have been crushed by these illegal taxes”."}],[{"start":105.94999999999999,"text":"The White House and the US trade representative’s office did not immediately respond to requests for comment. "}],[{"start":112.14999999999999,"text":"Trump imposed the new 10 per cent baseline tariff with immediate effect following the removal of his “liberation day” tariffs."}],[{"start":119.49999999999999,"text":"His trade representative Jamieson Greer has launched several investigations using authorities under Section 301 of the Trade Act of 1974 that could allow Washington to impose new tariffs on goods from almost all US trading partners. "}],[{"start":133.95,"text":"Greer is expected to complete those investigations and hand the president options to hit trading partners with duties in late July, when the 10 per cent baseline tariff just ruled illegal is set to expire. "}],[{"start":152.7,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1778207024_1811.mp3"}