US EditionWall Street keeps calm after the Supreme Court strikes down Trump’s tariffs
The Supreme Court ruled 6-3 that President Trump exceeded his authority under the 1977 International Emergency Economic Powers Act, affecting $134 billion in tariffs collected.
- On Friday, the U.S. Supreme Court in Learning Resources, Inc. v. Trump ruled President Donald Trump lacks unilateral authority to impose import taxes, with Chief Justice John G. Roberts Jr. stating tariffs are taxation power reserved for Congress.
- Trump invoked the International Emergency Economic Powers Act to impose Liberation Day tariffs last April, an unprecedented move in the law's nearly 50-year history.
- Thousands of potential lawsuits could seek roughly $175 billion as the Court sent refund questions to lower courts, while White House officials warned refunds would burden finances and more than 300,000 importers.
- At a White House news conference, Trump said he would replace overturned levies with a 10% global tariff and other duties under different trade laws.
- The decision could impact global trade and consumers, as the Supreme Court's ruling is a major check on executive power and the $1.2 trillion U.S. trade deficit in 2025.
90 Articles
90 Articles
Malay Mail
AlKhaleej TodayUS Supreme Court strikes down Trump’s global tariffs in 6-3 ruling, saying emergency law does not authorise duties
WASHINGTON, Feb 21 — The US Supreme Court yesterday ruled Donald Trump’s sweeping global tariffs illegal—a stunning rebuke of the president’s signature economic policy that upended international trade.The conservative-majority high court ruled six-three in the judgment, saying that a 1977 law known as the International Emergency Economic Powers Act (IEEPA) Trump has relied on “does not authorize the President to impose tariffs.”Trump, who had no…
US Supreme Court strikes down Trump's tariffs: What does it mean for Mexico?
The U.S. Supreme Court ruled 6-3 on Friday that U.S. President Donald Trump improperly used a federal law reserved for a national emergency to impose sweeping tariffs on much of the world, and called the import taxes “unlawfully collected.” The ruling strikes down many, but not all, of Trump’s tariffs, and will impact U.S. importers more so than countries exporting goods to the U.S. Mexican Economy Minister Marcelo Ebrard was more concerned abou…
BBC World Service - Newshour, US Supreme Court rules against many of Trump's tariffs
President Trump has damned a Supreme Court ruling striking down much of his tariffs policy. A clearly furious president vowed to reimpose his import taxes through alternative methods. The court said that the president could not impose tariffs without consulting Congress. Also in our programme: how rural communities and poorer areas in Russia are being disproportionately affected by the war; and we speak to one of the stars of the first Iranian …
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