Last mentioned: 1d ago
Implementation Date
Tariffs are scheduled to go into effect at 12:01 a.m. ET according to White House fact sheets.
Executive Backlash
Donald Trump issues public statements criticizing the 'betrayal' by his judicial appointees.
Executive Response
Trump lashes out at justices and signs EO for new 10% global tariff.
Escalation to 15%
Trump increases the rate to 15% via Truth Social, citing Section 122 authority.
SCOTUS Decision
The Supreme Court reverses the lower court, ruling 6-3 against the administration's tariff implementation.
SCOTUS Ruling
Supreme Court strikes down reciprocal tariffs in a 6-3 decision.
Market Rally
Stoxx 600 and US stocks rise; Stoxx 600 hits all-time record.
SCOTUS Ruling
Supreme Court invalidates the administration's use of emergency powers for global tariffs.
10% Announcement
Trump announces a 10% global tariff in immediate response to the court's decision.
Appellate Ruling
The DC Circuit Court of Appeals upholds the executive's power, leading to a SCOTUS appeal.
Tariff Challenge Filed
Trade groups file a lawsuit challenging the constitutionality of executive-led tariff expansions.
President Donald Trump has escalated global import duties to a 15% maximum, pivoting to Section 122 of the 1974 Trade Act after the Supreme Court invalidated his previous emergency-power tariffs. This temporary measure faces a 150-day legislative deadline and significant skepticism from a Republican-controlled Congress concerned about inflation.
The US Supreme Court has invalidated President Trump’s sweeping reciprocal tariffs in a landmark 6-3 ruling, citing an overreach of executive authority. The decision has triggered a global market rally, with the Stoxx 600 hitting record highs, while opening the door for billions in corporate tax refunds.
The U.S. Supreme Court has issued a landmark ruling limiting executive authority over tariff implementation, prompting a sharp public rebuke from Donald Trump. The decision marks a critical check on trade protectionism and reinforces judicial independence regarding delegated legislative powers.