Last mentioned: 2d ago
CIT Implementation (Expected)
The Court of International Trade is expected to begin establishing refund procedures for importers.
Market Scramble
Corporations begin filing for refunds while adjusting to the new 10% levy.
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.
Legal Challenges Mount
Importers file suits in the U.S. Court of International Trade challenging IEEPA authority.
Tariff Implementation
President Trump imposes reciprocal and drug-trafficking tariffs using IEEPA authority.
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.