"The 6-3decision centered on the tariffs Trump justified under the International Emergency Economic Powers Act, a national security law that allows the president to regulate economic activity during emergencies. Those IEEPA-justified tariffs have been one of Trump's most powerful weapons in his efforts to renegotiate trade agreements around the globe. They include Trump's so-called "Liberation Day" tariffs, announced in April, which are at least 10% on nearly every country in the world."
"The Trump administration's use of the law went too far, wrote Chief Justice John Roberts in the majority opinion. Trump would need a distinct law from Congress "to justify his extraordinary assertion of the power to impose tariffs," he wrote. "What common sense suggests, congressional practice confirms," he wrote. "When Congress has delegated its tariff powers, it has done so in explicit terms, and subject to strict limits.""
Supreme Court struck down a major portion of presidential tariff authority under the International Emergency Economic Powers Act in a 6-3 decision, limiting expansive emergency tariff powers. The Court held that the administration's use of IEEPA went too far and that the president would need a distinct law from Congress to justify imposing such tariffs. IEEPA-justified tariffs had been central to efforts to renegotiate global trade terms, including April's so-called "Liberation Day" 10% tariffs on many countries. The ruling coincides with a shrinking U.S. trade deficit, which fell to $29.4 billion in October. Two business groups filed lawsuits and the cases were fast-tracked.
Read at Business Insider
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