US appeals court reinstates Trump's tariffs

A federal appeals court on Thursday granted the Trump administration's request to temporarily pause Wednesday's ruling from the Court of International Trade that invalidated Trump's reciprocal tariffs and other duties.

The request for an immediate administrative stay is granted to the extent that the judgments and the permanent injunctions made by the Court of International Trade in these cases are temporarily stayed until further notice while this court considers the motions papers, the U.S. Court of Appeals for the Federal Circuit said in its order.

The appeals court also ordered the plaintiffs in the cases to respond by June 5 and the Trump administration by June 9.

The Court of International Trade rule on Wednesday that Trump lacks the authority under the International Emergency Economic Powers Act to impose sweeping tariffs.

In the U.S. federal court system, the U.S. Court of International Trade operates at the same level as federal district courts. Its rulings can be appealed to the U.S. Court of Appeals for the Federal Circuit and, if necessary, to the U.S. Supreme Court.

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.