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Murky outlook for businesses after tariff ruling prompts countermoves by Trump
The Supreme Court ruled 6-3 that the International Emergency Economic Powers Act did not authorize import tariffs, prompting businesses to seek refunds and legal actions.
- Last Friday, the U.S. Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act, invalidating President Donald Trump's emergency tariffs.
- Because the court tied import-taxing power to Congress, the decision's scope was narrow, applying only to tariffs under the International Emergency Economic Powers Act, while others remain in effect.
- Trade groups said a potential $133 billion to $175 billion of tariffs could be contested, urging careful handling and a seamless refund process, including the Business Roundtable and National Retail Federation, according to sources.
- Several companies, including Basic Fun, filed lawsuits last week to recover tariffs, amid supply-chain strains at ports and high aluminum costs reported by breweries.
- Economists warned any near-term boost from lowering tariffs may be partly offset by prolonged uncertainty, while observers cautioned the administration could rebuild tariffs through other authorities.
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18 Articles
Coverage Details
Total News Sources18
Leaning Left2Leaning Right0Center16Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
11%
C 89%
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