Last mentioned: 2d ago
Market Analysis
Firms like Wipfli begin assessing the impact on corporate tax and supply chain strategy.
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.
SCOTUS Ruling
The Supreme Court holds that IEEPA does not authorize the imposition of tariffs.
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.
Executive Expansion
Successive administrations increasingly use IEEPA for trade-related actions and tariff threats.
IEEPA Enacted
Congress passes the International Emergency Economic Powers Act to manage foreign threats.
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.
The U.S. Supreme Court has ruled that the President lacks the authority to impose tariffs using the International Emergency Economic Powers Act (IEEPA), reclaiming trade-taxing power for Congress. This landmark decision significantly limits the executive branch's ability to use trade barriers as a unilateral tool of foreign policy.