Last mentioned: 1d ago
Projected Expiration
The 150-day temporary legal window for the new tariff rate is set to expire.
Summit Commencement
Scheduled start of high-level talks between Trump and Xi in Beijing.
Market Reaction
Global markets process the shift from permanent to temporary but broad-based tariffs.
15% Tariff Hike
President hikes the rate to 15% and launches a public attack on the Supreme Court justices.
Supreme Court Ruling
A 6-3 majority strikes down the President's unilateral global tariff authority.
Executive Retaliation
Trump denounces the ruling and signs an executive order repealing the struck-down tariffs.
New Levy Imposed
A new 10% duty is proclaimed for 150 days, utilizing a different legal authority.
SCOTUS Ruling
Supreme Court strikes down the tariff framework in a 6-3 decision.
New Tariff Announcement
White House announces a new 10% worldwide duty using alternative legal authorities.
SCOTUS Ruling
Supreme Court strikes down 20% IEEPA tariffs as an overstep of executive authority.
Visit Confirmation
White House confirms dates for the Beijing summit.
SCOTUS Ruling Issued
The Supreme Court strikes down global reciprocal tariffs in a 6-3 vote.
Market Rally
Stoxx 600 hits record high; US stocks finish higher on refund prospects.
White House Response
President Trump lashes out at justices during a press briefing.
New Tariff Order
Trump signs executive order for a fresh 10% global tariff under Section 122.
Supreme Court Ruling
SCOTUS rules 6-3 that the use of the 1977 emergency powers act for broad tariffs is illegal.
Initial 10% Proposal
Trump announces a new 10% global levy via an alternative legal avenue hours after the ruling.
Diplomatic Teasing
Trump tells foreign leaders the upcoming China visit will be 'a wild one'.
Democratic Counteroffer
Congressional Democrats submit a new funding proposal to the White House focusing on ICE reforms.
Partial Shutdown Begins
DHS enters a partial shutdown as lawmakers fail to reach an agreement on ICE oversight.
President Trump has escalated his trade offensive by raising the global import duty to 15% just one day after a Supreme Court ruling struck down his previous tariff framework. The move, which utilizes a temporary 150-day legal window, signals a deepening constitutional and economic confrontation over executive trade authority.
The US Supreme Court's 6-3 ruling against the administration's 'reciprocal' tariffs has triggered a record-breaking rally in European markets and a surge in US equities. While the decision opens the door for billions in potential refunds, President Trump has immediately countered with a new 10% global levy under Section 122.
President Trump is scheduled to meet President Xi Jinping in Beijing following a landmark Supreme Court ruling that invalidated 20% tariffs on Chinese imports. The visit aims to secure a trade truce, though the administration is pivoting toward a temporary 10% global tariff to maintain leverage.
The U.S. Supreme Court has delivered a 6-3 ruling invalidating President Trump’s sweeping global tariffs, citing an overreach of executive authority under the International Emergency Economic Powers Act. In a defiant response, the White House immediately announced a new 10% worldwide duty, signaling a prolonged legal and economic battle over trade policy.
The U.S. Supreme Court has issued a landmark 6-3 ruling stripping the executive branch of unilateral tariff-setting authority, prompting an immediate retaliatory 10% import levy from the White House. The decision throws $175 billion in collected duties into legal limbo and creates a new era of trade volatility for global markets.
Congressional Democrats have submitted a formal counteroffer to the White House to end the partial shutdown of the Department of Homeland Security. The proposal focuses on ICE oversight and funding reforms, though the administration remains deadlocked with lawmakers as the agency enters its fourth day of closure.