Trump Rages Over Tariff Court Ruling, Blames 'Radical Left' Judges And Federalist Society As $34B Trade War Toll Emerges

President Donald Trump erupted on Truth Social late Thursday, denouncing a recent U.S. Court of International Trade decision that challenged the legality of his administration's sweeping tariffs. 

Trump warned the ruling could "completely destroy Presidential Power" and accused three judges of political bias.

However, within 24 hours of the trade court striking down Trump’s “Liberation Day” tariffs, a federal appeals court issued an administrative stay on the order, intensifying the uncertainty around the levies.

The order came in response to a petition filed by lawyers representing the Department of Justice (DoJ), claiming the trade court’s ruling was “rife with legal error and upends President Trump’s efforts to eliminate our exploding trade deficit and reorient the global economy on an equal footing.”

The appeals court also asked a group of companies that challenged the tariffs to file a brief before June 5, laying out their arguments, and directed the DoJ to reply by June 9.

The full court will now hear the appeal, with participation by 11 active judges. 

On Wednesday, the trade court ruled that Trump's use of emergency powers under the International Emergency Economic Powers Act (IEEPA) to impose unilateral tariffs exceeded presidential authority. The court said such actions require Congressional approval, a view Trump rejects outright.

"The horrific decision stated that I would have to get the approval of Congress for these Tariffs. In other words, hundreds of politicians would sit around D.C. for weeks… trying to come to a conclusion," he posted.

Trump defended his tariff strategy, claiming it helped the U.S. collect "trillions of dollars" and bolstered national prosperity.

Contrary to Trump’s claims, a Reuters analysis of corporate disclosures suggests tariffs have cost global companies — including Apple, Ford, Porsche, and Sony — over $34 billion in lost sales and higher operational expenses.

The report said the estimate is based on data from 32 S&P 500 companies, three STOXX 600 companies from Europe, and 21 Nikkei 225 constituents from Japan. 

Trump Turns On Federalist Society

In a surprising turn, Trump also criticized the Federalist Society, once a cornerstone of his judicial nomination process, and its longtime influencer, Leonard Leo.

"I am so disappointed in The Federalist Society," Trump wrote. "They were under the thumb of a real 'sleazebag' named Leonard Leo, a bad person who, in his own way, probably hates America, and obviously has his own separate ambitions."

While Trump took credit for many judicial appointments, he said he regretted several picks and warned that some judges undermined his presidential legacy.

In another setback to Trump’s tariff pursuit, a federal judge in Washington ruled on Thursday that several of the tariffs are unlawful, although he deferred the implementation by 30 days to allow the DOJ to appeal.

What's In Store?

The Supreme Court may ultimately decide whether a president can impose tariffs without Congress, a ruling that could reshape the future of U.S. trade authority. 

Trump is calling for a quick reversal, claiming the ruling is being "hailed all over the world by every country, other than the United States of America."

"Radical Left Judges, together with some very bad people, are destroying America," he said. “The President of the United States must be allowed to protect America against those that are doing it Economic and Financial harm.”

The Invesco QQQ Trust (QQQ) ETF and the SPDR S&P 500 ETF (SPY) are up 1.9% and 1%, respectively, for the year.

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