Last mentioned: 1d ago
Statutory Expiration
The 150-day window for Section 122 authority expires unless renewed or modified.
Implementation Date
New 10% global tariffs officially go into effect for all trade partners.
Section 122 Pivot
President Trump announces a 10% global tariff using Section 122 of the Trade Act of 1974 to bypass the ruling.
Market Reaction
Global markets process the shift from permanent to temporary but broad-based tariffs.
Executive Action
Trump signs EO for 10% global tariff under Section 122 of the Trade Act of 1974.
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.
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.
Supreme Court Ruling
SCOTUS rules 6-3 that using IEEPA for broad tariffs exceeds executive authority.
Liberation Day
Trump administration expands global tariffs to dozens of trading partners using IEEPA.
President Trump has signed an executive order imposing a 10% global tariff by invoking Section 122 of the Trade Act of 1974, following a landmark Supreme Court ruling that invalidated his previous use of emergency powers. The move recalibrates trade relations with key partners like India while setting up a new 150-day window of economic uncertainty.
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.
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.