Industry stakeholders within the European bloodstock business will have cause for relief after Donald Trump's controversial tariffs were struck down by the US Supreme Court on Friday.
A cloud of uncertainty had been hovering over the movement of horses to the US since Trump's tariffs were first mooted last year.
However, with a 6-3 majority, the Supreme Court ruled that Trump exceeded his authority when he imposed tariffs via a law reserved for national emergencies. They also said that he needs congressional approval to impose taxes on imports.
It has been reported that over 1,600 horses have been permanently imported into America from Britain and Ireland alone over the past four years.
Under Trump's tariffs, imports arriving from Britain were due to incur a 10 per cent tariff, while those coming from the EU were to be charged 15 per cent.
Not only does Friday's announcement have a major impact on sales companies such as Goffs, Arqana and Tattersalls, but the quashing of any tariffs is also good news to the private horses-in-training market, which has been so strong historically.
Trump told reporters the Supreme Court's ruling was “deeply disappointing” and that he's ashamed of “certain members of the court for not having the courage to do what's right for our country”.
He also went on to say “other alternatives will now be used to replace” the tariff plan after it was rejected by the Supreme Court, signaling that he intends to pursue a revised path forward on trade policy. “We have alternatives. Great alternatives,” Trump said, adding that the ruling opened the door for him to go in “probably a direction that I should have gone in the first time.”
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