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.
174 Articles
174 Articles
U.S. lawmaker pledges more pushback in Congress to ‘chaotic’ Trump tariffs after Supreme Court decision
A U.S. Representative for Michigan is pledging more pushback in Congress to U.S. President Donald Trump’s “chaotic” tariffs, after the U.S. Supreme Court on Friday struck them down.
The US Supreme Court has dealt the biggest blow yet to Donald Trump's political agenda, with a ruling on Friday that overturned the vast majority of tariffs the president has imposed on dozens of countries since he returned to office.
Trump Announces ‘Legally Tested’ Maximum Tariff Action Against Countries Accused Of ‘Ripping The US Off’
by Anthony Iafrate at CDN - President Donald Trump announced Saturday he would be raising his global tariff rate by 50%, one day after the Supreme Court ruled against the authority he invoked to tax imports. In Friday’s landmark 6-3 decision, the Court ruled the Carter-era International Emergency Economic Powers Act (IEEPA) does not allow Trump to implement tariffs. The president … Click to read the rest HERE-> Trump Announces ‘Legally Tested’ M…
Indonesia president says ready to face all possibilities after US Supreme Court rejects Trump's global tariffs
JAKARTA: Indonesian President Prabowo Subianto said on Saturday (Feb 21) that his government is ready to face all possibilities after the US Supreme Court rejected President Donald Trump's global tariffs.Prabowo, with his ministers, was in Washington DC this week to attend the inaugural meeting of Trump's Boa
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