Supreme Court Strikes Down Trump's Tariffs as He Orders New 10% Tax

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The US Supreme Court ruled 6-3 that Donald Trump's use of emergency powers to impose international trade tariffs was unconstitutional.This landmark decision requires the federal government to refund between $133 billion and $170 billion to companies like Costco and Alcoa.Donald Trump responded by signing an executive order for a new 10% global import tax for 150 days using the Trade Act of 1974.While Mitch McConnell criticized the disruption to industries, economist Gregory Daco at EY-Parthenon projected average import rates would fall to 9.5%.
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