Background

On April 14 2025, five small-business importers led by wine-and-spirits distributor V.O.S.

Selections, Inc. filed suit in the U.S. Court of International Trade (CIT) challenging President Donald Trump's sweeping "Liberation Day" tariffs, imposed two weeks earlier under Executive Order 14257 and justified under the International Emergency Economic Powers Act (IEEPA). The plaintiffs, represented by the Liberty Justice Center, argue that lEEPA does not authorize across-the-board tariffs and that the order violates the Constitution's separation-of-powers (non-delegation and major-questions doctrines). The plaintiffs ultimately seek a nation-wide injunction (and eventual judgment on the merits) that would bar Customs & Border Protection and other agencies from collecting or enforcing the Liberation Day tariffs.

Resolution Criteria

This market will resolve to "Yes" if all of the following occur:

1. Court & Case. The U.S. Court of International Trade issues an order in V.O.S. Selections, Inc.

v. Trump, Case No. 1:25-cv-00066.

2. Relief Granted. That order grants either a preliminary injunction, a permanent injunction, or final judgment that prohibits the defendants (the United States, President Trump, USTR, CBP, etc.) from implementing, enforcing, or collecting the Liberation Day tariffs.

3. Scope. The order's operative language halts enforcement of the tariffs nationwide (i.e., it is not limited solely to the named plaintiffs).

4. Timing. The order is entered on or before 11:59 p.m. ET, December 31 2025.

This market will resolve to "No" if any of the following occur before the deadline and none of the "Yes" conditions are met:

1. December 31 2025 passes with no qualifying injunction having been issued by the CIT.

2. The CIT explicitly denies both preliminary and permanent injunctive relief requested by the plaintiffs.

3. The case is dismissed with prejudice, withdrawn, or settled without a qualifying injunction.

4. The challenged executive order is rescinded or rendered moot (e.g., by subsequent executive or legislative action) before the CIT issues a qualifying order, eliminating the need for injunctive relief.

Clarifications

• An injunction that applies only to the plaintiffs— e.g., directing CBP not to collect tariffs from V.O.S. Selections but leaving the broader tariff regime intact-does not satisfy the "Yes" criteria.

• Subsequent appellate action (Federal Circuit or Supreme Court) does not affect resolution; only the CIT's order by the deadline counts.

• If the CIT grants a qualifying injunction and later stays or narrows it before year-end, the market will still resolve "Yes," provided the original order met all criteria when issued.

• Orders addressing other tariff programs or unrelated statutory grounds are irrelevant unless they expressly enjoin enforcement of the Liberation Day tariffs.