Last mentioned: 1d ago
Expiration Date
The 150-day temporary allowance for the current 15% tariff is set to expire.
Market Reaction
Global markets react with volatility as analysts assess the 150-day tariff window.
Refund Demands
Governors Newsom and Pritzker demand immediate repayment of $130B+ to taxpayers.
White House Response
The White House posts 'Keep calm and tariff on' and vows to fight refund claims in court.
Initial Response
Trump announces a 10% global levy using an alternative legal avenue.
Tariff Escalation
Rate is hiked to 15% after a 'thorough review' of the court's decision.
SCOTUS Ruling
Supreme Court issues 6-3 decision striking down unilateral executive tariffs.
Executive Response
Trump signs executive order repealing old tariffs and issuing a new 10% levy proclamation.
SCOTUS Ruling
The Supreme Court strikes down the tariffs as an illegal use of executive power.
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 rules 6-3 against the administration's use of IEEPA for global tariffs.
Legal Challenges Peak
Multiple lawsuits from importers and state AGs reach the appellate level.
Tariffs Imposed
The Trump administration invokes emergency powers to implement broad trade tariffs.
Liberation Day Tariffs
The administration imposes sweeping global duties on dozens of trading partners using IEEPA.
President Trump has unilaterally increased the global import duty to 15%, bypassing a Supreme Court ruling that struck down his previous tariff regime. The move utilizes a temporary 150-day legal mechanism to maintain aggressive trade policies while sparking a constitutional confrontation with the judiciary.
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 US Supreme Court has ruled 6-3 that the Trump administration's emergency tariffs are illegal, prompting Democratic governors to demand immediate restitution. Governors Gavin Newsom and J.B. Pritzker are leading a multi-state push for the Treasury to refund over $130 billion collected from importers and passed on to consumers.
The U.S. Supreme Court ruled 6-3 that the President lacks unilateral authority to set global tariffs, invalidating previous trade actions. In a swift counter-move, President Trump imposed a new 10% tariff for a 150-day period, triggering a fresh wave of legal and economic uncertainty.