The US Supreme Court ruled 6-3 against President Donald Trump’s broad tariffs imposed under the 1977 International Emergency Economic Powers Act (IEEPA), marking a major rebuke to his trade policy.
Ruling Breakdown
Chief Justice John Roberts’ majority opinion held IEEPA’s language doesn’t authorize sweeping import duties, calling Trump’s interpretation a “dramatic expansion of presidential power.” Dissenters Thomas, Alito, and Kavanaugh warned of refund “mess” for $129B collected.
Trump’s Defiant Response
Trump immediately signed an executive order for a 10% tariff on all imports under Section 122 of the Trade Act of 1974, effective February 24 for up to 150 days. Exemptions include pharma, select ag/minerals; he labeled justices “fools” but vowed stronger alternatives.
Global & India Reactions
Markets rallied with dollar dip; businesses eye refunds amid litigation. India sees prior 18% rate align at 10%, preserving recent framework despite uncertainties.
