Court backs Trump on rescinding de minimis tariff exemption

A federal trade court agreed Thursday that President Trump lawfully ended a tariff exemption for low-cost goods last year.  Trump did so by invoking the same 1970s-era emergency statute that the Supreme Court ruled didn’t authorize the president’s sweeping “Liberation Day” tariffs.  The U.S. Court of International Trade said ending a tariff exemption is legally distinct — and…