Trump Defies Supreme Court With New 10% Import Tariffs

Donald Trump issued a 10% tariff proclamation starting February 24 after the Supreme Court struck down previous trade penalties as an executive overreach.The judicial ruling invalidated tariffs that collected up to $175B, prompting refund demands from JB Pritzker and Zach Conine while providing exemptions for General Motors and Ford.Economist Jared Bernstein suggested the legal shift could lower inflation but increase the budget deficit as the Trade Court begins a multi-year refund process.International industries are navigating the complex aftermath of the court decision which reduced earlier tariff rates from 17% to 9% before the new executive order.