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Section 122 Pivot
President Trump announces a 10% global tariff using Section 122 of the Trade Act of 1974 to bypass the ruling.
Supreme Court Ruling
The Court strikes down broad IEEPA tariffs in a 6-3 decision, citing lack of explicit Congressional authorization.
Vance Response
VP JD Vance issues a statement on X criticizing the court for 'lawlessness' and hindering industrial protection.
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.
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.
The U.S. Supreme Court has struck down broad-based tariffs imposed under the International Emergency Economic Powers Act, ruling 6-3 that the executive branch exceeded its authority. In response, President Trump has invoked Section 122 of the Trade Act of 1974 to impose a temporary 10% global tariff.