The U.S. Supreme Court ruled 6-3 to strike down most of President Trump's tariffs imposed under the International Emergency Economic Powers Act, stating that taxing authority does not belong to the executive branch. This ruling eliminates broad tariffs that had been used to pressure trading partners, while sector-specific tariffs on steel and aluminum remain intact. The White House is expected to shift to a more limited tariff authority under the 1974 Trade Act.
Sign in to access complete coverage, AI analysis, and related companies.
Sign In to Continue