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Investigation Deadline
The 150-day window for trade investigations and temporary tariffs is set to conclude.
Scheduled Vote
Original date for the European Parliament trade committee to approve the EU-US deal (now in doubt).
Parliament Deliberation
Bernd Lange to call for a pause on legislative work regarding the EU-US trade deal.
EU Formal Response
European Commission demands 'full clarity' and insists the U.S. honor its trade commitments.
Trade Exemptions
Mexico and Canada confirmed as exempt; India and South Korea assess trade deal impacts.
Market Reaction
Wall Street remains stable as analysts digest the legal implications of the ruling.
Global Duty Announced
Trump announces a 15% global import duty; Sefcovic speaks with Greer and Lutnick.
Supreme Court Ruling
A 6-3 majority strikes down the use of IEEPA for global tariffs, citing Congressional authority over trade.
Presidential Response
Trump holds a news conference denouncing the court and justices as 'swayed by foreign interests'.
New Tariff Announcement
Trump invokes the Trade Expansion Act of 1962 to impose a 10% global tariff.
SCOTUS Ruling
Supreme Court strikes down broad presidential tariff authority under the IEEPA.
Executive Response
Trump signs executive order for a new 10% global tariff effective immediately.
Supreme Court Ruling
U.S. Supreme Court rules much of the administration's IEEPA-based tariff campaign is illegal.
The European Commission has issued a stern demand for the United States to uphold its bilateral trade commitments following President Trump's announcement of a 15% global import duty. The move comes immediately after a U.S. Supreme Court ruling limited the administration's tariff powers, creating a fresh wave of volatility in transatlantic relations.
President Trump has implemented a new 10% global tariff via executive order after the Supreme Court struck down his previous trade levies. The ruling significantly limits presidential authority under the International Emergency Economic Powers Act (IEEPA), forcing a strategic shift in the administration's trade policy.
President Trump has vowed to bypass a Supreme Court ruling that struck down his global tariffs by invoking the Trade Expansion Act of 1962. The administration plans to implement a 10% across-the-board levy for 150 days while conducting new trade investigations.