Trump's Tariffs Face Supreme Court Rebuff

The Supreme Court's ruling on Trump's tariffs has sparked reactions from various businesses, with CNN's Gloria Pazmino speaking to New York City business owners about the potential impact on their prices. The article discusses the implications of the ruling and features interviews with business owners and politicians, including Sen. Elizabeth Warren, who suggests that Trump should 'refund' taxpayers for the impact of the tariffs.

The US Supreme Court has ruled that about half of the tariffs imposed by former President Donald Trump are null and void, as they were implemented unilaterally without Congressional approval. The tariffs in question were imposed under the International Emergency Economic Powers Act (IEEPA) of 1977, which the Supreme Court has deemed was not justified in this case. The decision may lead to refunds of money paid under these tariffs and could force the administration to use other loopholes to recoup losses. The ruling is a significant blow to Trump's trade war efforts and may impact his poll ratings, which have been affected by the unpopularity of the tariffs.

US President Donald Trump announced on Saturday that he is raising global tariffs on imported goods to the US to 15%, up from 10% announced a day earlier. This move comes after the Supreme Court ruled that Trump's previous tariff imposition methods were unconstitutional. The new tariff rate is based on Section 122 of the Trade Act of 1974 and is expected to last for 150 days. The decision has created uncertainty and confusion globally, with governments seeking clarity on exemptions and the future of the tariff system.

President Donald Trump declared Supreme Court Justice Brett Kavanaugh as his 'new hero' after the Supreme Court ruled 6-3 against Trump's tariff powers under the International Emergency Economic Powers Act (IEEPA). Trump had unilaterally levied tariffs on nearly every country by invoking the IEEPA, citing national emergencies due to illicit drugs and trade deficits. Kavanaugh wrote a dissenting opinion, arguing that the IEEPA empowers the president to regulate imports using tools like quotas, embargoes, and tariffs. Despite the ruling, Trump raised the global tariff to 15% from 10%, citing a different statute. The decision may require the US to refund billions of dollars to importers who paid the IEEPA tariffs.

The article discusses the upcoming summit between US President Trump and Chinese President Xi Jinping, scheduled to take place in China in April. The meeting is expected to be grand, but tensions over trade, Taiwan, and technology may cause friction. The US Supreme Court's recent decision to strike down some of Trump's tariffs may have weakened his bargaining power, potentially giving Xi an advantage in trade talks. Xi's goals for the summit include securing stability in US-China relations, concessions on technology restrictions, and reduced US support for Taiwan. Trump's focus will be on securing business and investment agreements, and he may face challenges from Xi on issues like rare earths and tariffs.

US President Donald Trump has renewed his criticism of Taiwan's chip sector following a US Supreme Court ruling that his tariffs on imports violated the 1977 International Emergency Economic Powers Act. Trump claimed that Taiwan had 'stolen' the US chip business and that Taiwanese companies were setting up factories in the US to avoid paying tariffs. The comments sparked unease in the global semiconductor industry despite Taiwan's earlier pledge to invest $500 billion in the US in return for lower tariffs. Trump's remarks came after the Supreme Court ruled in a 6-3 decision that his import tariffs were invalid, potentially benefiting China.

The US Supreme Court has ruled against President Donald Trump's use of an international emergency law to impose tariffs, but Trump remains committed to continuing his trade experiment. In a news conference, Trump made false claims about the economic impact of tariffs and promised to replace or increase them using other laws. The article analyzes Trump's stance on trade and tariffs despite the Supreme Court's rebuke.