Trump Signs New 10% Tariff After US Supreme Court Strikes Down Tax

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Donald Trump signed an executive order for a new 10% global tariff after the USA Supreme Court ruled his previous trade taxes were unconstitutional.Chief Justice John Roberts wrote that the power to levy taxes belongs to Congress, potentially forcing the government to refund $175B in collected revenue.Donald Trump called the court majority "fools" and invoked the Trade Act of 1974 to implement 150-day temporary measures to bypass the decision.Financial markets reacted to the uncertainty with a weakening dollar and slowed GDP growth as over 1,000 corporations like Toyota launched lawsuits.
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