Last mentioned: 2d ago
150-Day Expiration
The initial legal window for the Section 122 surcharge expires, requiring renewal or new authority.
Refund Litigation Begins
The Trump administration signals intent to litigate the refund process despite the ruling.
Tariffs Effective
The new 10% global tariff takes effect for all imports.
Market Reaction
Retailers and e-commerce firms assess the impact of potential refunds vs. new duties.
SCOTUS Ruling Issued
Supreme Court declares IEEPA tariffs unlawful and unconstitutional in a 6-3 vote.
SCOTUS Ruling
Supreme Court strikes down the tariffs in a 6-3 decision.
New Tariff Announcement
White House announces a new 10% worldwide tariff within hours of the ruling.
Supreme Court Ruling
SC rules 6-3 against the administration's use of IEEPA for broad import tariffs.
Executive Order Signed
Trump invokes Section 122 of the Trade Act of 1974 to impose a 10% global tariff.
Liberation Day
President Trump imposes sweeping global tariffs using IEEPA authority.
IEEPA Tariffs Imposed
President Trump implements reciprocal and drug-trafficking tariffs via executive order.
The US Supreme Court has invalidated the Trump administration's sweeping global tariffs, ruling that the executive branch overstepped its authority under the 1977 International Emergency Economic Powers Act. This landmark decision halts the collection of levies that had already reached $134 billion, offering immediate relief to the retail and e-commerce sectors.
Following a landmark 6-3 Supreme Court ruling striking down the use of emergency powers for broad import duties, President Trump has invoked Section 122 of the Trade Act of 1974 to impose a 10% global tariff. The move shifts the legal basis for his protectionist agenda while temporarily lowering rates for some partners like India from previously negotiated levels.
The U.S. Supreme Court has invalidated the administration's sweeping global trade duties in a landmark 6-3 ruling, citing an overreach of executive authority. President Trump immediately countered by announcing a new 10% worldwide tariff, signaling a protracted legal battle over billions in potential corporate refunds.
The U.S. Supreme Court has ruled 6-3 that the International Emergency Economic Powers Act does not grant the President authority to impose tariffs, invalidating billions in duties. This landmark decision opens a complex legal battle for an estimated $175 billion in refunds, impacting retailers and e-commerce platforms nationwide.