Last mentioned: 2d ago
CIT Implementation (Expected)
The Court of International Trade is expected to begin establishing refund procedures for importers.
Effective Date
The new 10% global tariff officially takes effect for all imports entering the United States.
Market Scramble
Corporations begin filing for refunds while adjusting to the new 10% levy.
White House Response
The White House posts 'Keep calm and tariff on' and vows to fight refund claims in court.
White House Clarification
Officials confirm the 10% rate replaces previous higher tariffs for partners like India until further notice.
Presidential Reaction
President Trump holds a White House briefing calling the ruling 'disgraceful' and hinting at a backup plan.
SCOTUS Ruling
The Supreme Court invalidates sweeping tariffs based on emergency powers.
White House Reaction
President Trump calls the ruling a 'disgrace' and 'deeply disappointing.'
New Tariff Announcement
A 10% universal baseline tariff is announced using alternative legal authority.
SCOTUS Ruling
Supreme Court strikes down the tariffs as unconstitutional and outside statutory scope.
SCOTUS Ruling
The Supreme Court issues a 6-3 decision striking down the global tariff structure.
New 10% Tariff
Hours after the ruling, the President announces a new worldwide 10% duty.
SCOTUS Ruling
Supreme Court strikes down IEEPA-based tariffs in a 6-3 decision, citing lack of explicit congressional authorization.
Executive Order Signed
Trump signs a new order invoking Section 122 of the Trade Act of 1974 for a 10% global tariff.
SCOTUS Ruling
The Supreme Court issues a verdict invalidating the sweeping tariffs as a violation of federal law.
Revenue Milestone
US government reaches $134 billion in total levies collected under the new tariff regime.
Legal Challenges Mount
Importers file suits in the U.S. Court of International Trade challenging IEEPA authority.
Liberation Day Tariffs
The administration imposes sweeping global duties on dozens of trading partners using IEEPA.
Tariff Implementation
President Trump imposes reciprocal and drug-trafficking tariffs using IEEPA authority.
IEEPA Enacted
The International Emergency Economic Powers Act is signed into law, granting the President power to regulate commerce during national emergencies.
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.
Following a landmark 6-3 Supreme Court ruling that curtailed executive authority under the IEEPA, President Trump has invoked Section 122 of the Trade Act of 1974 to impose a new 10% global tariff. The move attempts to bypass constitutional restrictions on the executive's power to levy duties while maintaining a protectionist stance toward trade partners like India.
The U.S. Supreme Court has issued a landmark 6-3 ruling striking down the administration's sweeping global trade duties, finding the President exceeded authority under the International Emergency Economic Powers Act. In immediate defiance of the judicial setback, the White House announced a new 10% worldwide tariff and signaled a protracted legal battle over potential multi-billion dollar refunds.
The U.S. Supreme Court has ruled 6-3 that the International Emergency Economic Powers Act does not authorize the President to impose tariffs, invalidating billions in duties collected since 2025. This landmark decision creates a massive fiscal liability for the federal government and a complex recovery process for global importers.
The U.S. Supreme Court has invalidated President Trump’s sweeping tariffs imposed under emergency powers, sparking a chaotic scramble for corporate refunds. In a defiant response, the administration has already announced a new 10% universal baseline tariff, signaling a prolonged legal and economic battle over executive trade authority.