Last mentioned: 2d ago
Supreme Court Ruling
The Court strikes down the tariffs in a 6-3 vote, citing IEEPA limitations.
Legal Challenges
Retail and trade groups file lawsuits challenging the executive overreach.
Tariff Implementation
President Trump invokes emergency powers to impose reciprocal global tariffs.
The U.S. Supreme Court has struck down the administration's sweeping global tariffs, delivering a major blow to President Trump's signature trade policy. The ruling has sparked an immediate rally in the apparel and automotive sectors as market uncertainty regarding import costs and supply chain disruption subsides.
The U.S. Supreme Court has overturned President Donald Trump’s sweeping global tariffs, ruling 6-3 that the administration exceeded its authority under federal emergency-powers laws. This decision provides immediate relief to the e-commerce and retail sectors, which have faced rising costs and supply chain volatility.
February consumer sentiment data reveals a growing divide in the US economy, with stock market gains fueling optimism among high-earners while lower-income households face declining confidence. This bifurcated sentiment suggests a challenging environment for mass-market retailers even as luxury and high-end discretionary spending remains resilient.