Howard Lutnick

Person

Last mentioned: 8h ago

Timeline

  1. Presidential Reaction

    President Trump holds a White House briefing calling the ruling 'disgraceful' and hinting at a backup plan.

  2. SCOTUS Ruling

    The Supreme Court issues a verdict invalidating the sweeping tariffs as a violation of federal law.

  3. Revenue Milestone

    US government reaches $134 billion in total levies collected under the new tariff regime.

  4. IEEPA Enacted

    The International Emergency Economic Powers Act is signed into law, granting the President power to regulate commerce during national emergencies.

Stories mentioning Howard Lutnick 1

Regulation Bearish

SCOTUS Strikes Down Trump Tariffs: A Major Blow to Executive Trade Authority

The US Supreme Court has invalidated the Trump administration's sweeping tariffs on global trading partners, ruling that the President exceeded his authority under the 1977 International Emergency Economic Powers Act. The decision marks a significant legal setback for the administration's signature trade policy and creates immediate uncertainty for over $134 billion in collected levies.

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