Supreme Court Strikes Down Trump's Global Tariffs in $240B Blow

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The US Supreme Court ruled 6-3 that Donald Trump exceeded his authority by using the International Emergency Economic Powers Act to impose global tariffs without congressional approval.Chief Justice John Roberts authored the majority opinion, joined by Donald Trump appointees Neil Gorsuch and Amy Coney Barrett, potentially forcing the federal government to refund up to $240 billion to companies like Apple and Toyota.Donald Trump reacted by calling the dissenting justices a "disgrace" and immediately signed a new executive order for a 10% global tariff under the Trade Act of 1974.Treasury Secretary Scott Bessent stated the administration may pursue other legal avenues such as trade embargoes, while the S&P 500 rose following the reduction in trade tensions.
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