Summary
The U.S. Supreme Court ruled that President Donald Trump acted beyond his powers when he used a specific law to impose global tariffs. After the court decision, President Trump announced new temporary tariffs under a different law. The situation may lead to more legal battles and discussions about trade policies.
Key Facts
- The Supreme Court decided 6-3 against President Trump’s use of a 1977 law to impose global tariffs.
- The court ruled Trump couldn't use the International Emergency Economic Powers Act (IEEPA) to place taxes on imports from almost every country.
- Trump's previous tariffs generated an estimated $130 billion, which could potentially be refunded.
- After the ruling, Trump used Section 122 of the 1974 Trade Act to impose a new 10% temporary tariff.
- Section 122 lets the president impose tariffs up to 15% for up to 150 days.
- President Trump previously used different laws, such as the Trade Expansion Act of 1962, for specific tariffs.
- The administration is exploring using Section 301 of the Trade Act of 1974 for further tariffs.
