Summary
The U.S. Supreme Court decided that President Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs was unconstitutional. The decision affects around $175 billion in tariff revenue, which the Court left to lower courts to handle. President Trump criticized the ruling and announced a new tariff plan under a different law.
Key Facts
- The Supreme Court ruled 6-3 against Trump's tariffs imposed under IEEPA.
- Chief Justice Roberts and two Trump-appointed justices sided with the majority.
- The Court found that Congress didn’t allow such broad tariff authority in IEEPA.
- The decision affects about $175 billion in tariff revenue, leaving refund decisions to lower courts.
- President Trump criticized the ruling and announced a new 15% global tariff.
- Trump stated there was no true national emergency to justify the tariffs under IEEPA.
- South Korea made significant diplomatic efforts to lower U.S. tariffs, but the existing tariffs were ultimately nullified.
- The ruling highlighted the "major questions doctrine," requiring Congress to authorize significant economic policies explicitly.
