India, May 29 -- The Japanese yen weakened against other major currencies in the Asian session on Thursday, after a U.S. federal court blocked U.S. President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, saying he exceeded his authority.
The three-judge panel at the Court of International Trade ruled after multiple lawsuits claimed Trump exceeded his authority and destabilized trade policy. The court declared the tariffs "unlawful to all," not just the five US businesses that filed the lawsuit and ordered the tariffs to be vacated and permanently blocked.
Democratic-led U.S. states argued Trump had illegally invoked an emergency law to justify his "Liberation Day" ...