"The Supreme Court of the United States has invalidated President Donald Trump's sweeping global tariffs, a decision that could lead to the return of $150 billion and significantly alter U.S. trade policy. In a 6-3 decision, America's highest court ruled that the law used to justify the tariffs "does not authorise the President to impose tariffs." Chief Justice John Roberts delivered the majority opinion, stunning the White House and upending one of Trump's flagship economic weapons."
"Just hours before the ruling, Trump posted on Truth Social, "If the Supreme Court rules against the United States of America on this National Security bonanza, we're screwed." Now, his so-called "reciprocal" tariffs - including rates of up to 34% on China and a 10% baseline on much of the world - have been struck down. Importers who paid the tariffs could now demand repayment, potentially costing the U.S. Treasury up to $150 billion and affecting government finances."
The Supreme Court invalidated President Trump's sweeping global tariffs in a 6-3 decision, finding the law used did not authorize the President to impose tariffs. The ruling could force repayment of up to $150 billion to importers who paid the duties and substantially alter U.S. trade policy. Chief Justice John Roberts wrote the majority opinion, while Justices Kavanaugh, Thomas, and Alito issued a dissent raising questions about returning collected funds. Steel and aluminum duties under separate laws remain in force. The White House may pursue alternative legal routes to reimpose tariffs.
Read at London Business News | Londonlovesbusiness.com
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