Last mentioned: 1d ago
Supreme Court Ruling
SCOTUS strikes down the tariffs, ruling the executive branch overstepped its constitutional authority.
White House Response
President Trump holds a press conference criticizing the judicial 'setback' and vowing countermoves.
10% Global Tariff Signed
Trump signs a new executive order establishing a 10% universal tariff on all nations.
Market Reaction
Global trade partners and supply chain managers express uncertainty as the new order takes immediate effect.
Section 122 Invocation
President Trump signs an executive order for a 10% global tariff to address balance of payments.
White House Reset
Administration signals that only countries with new 'Trump Trade Deals' will avoid higher surcharges.
New 10% Tariff Signed
Trump signs a document imposing a new 10% global tariff, effective almost immediately.
15% Target Announced
The administration signals a move toward a 15% global tariff rate during a press conference.
Supreme Court Ruling
SCOTUS issues a ruling limiting the President's authority to impose extreme emergency tariffs.
EU Emergency Meeting
European lawmakers call for a meeting to discuss the implications of the court ruling.
SCOTUS Ruling Issued
The Supreme Court strikes down the administration's use of IEEPA for broad trade tariffs.
White House Response
President Trump calls the ruling a 'disgrace' and vows immediate action to protect U.S. industry.
SCOTUS Ruling
Supreme Court strikes down IEEPA-based tariffs in a case led by Neal Katyal.
Tariff Implementation
The Trump administration uses IEEPA to impose sweeping tariffs on global imports.
Katyal Appointment
Neal Katyal is appointed Acting Solicitor General of the United States by President Obama.
IEEPA Enacted
Congress passes the International Emergency Economic Powers Act to manage foreign threats.
The U.S. Supreme Court has invalidated the Trump administration’s sweeping tariffs imposed under the International Emergency Economic Powers Act (IEEPA), ruling them an unconstitutional overreach of executive authority. President Trump immediately retaliated by signing a new 10% global tariff and labeling the court's decision a 'disgrace to the nation.'
A landmark US Supreme Court ruling striking down executive tariffs has been met with a swift counter-move from the White House. While European exporters briefly celebrated the legal victory, the administration's immediate imposition of a 10% global tariff creates a new, permanent floor for transatlantic trade.
Following a Supreme Court ruling that limited the administration's initial trade strategy, President Trump has signed a new executive order imposing a 10% universal tariff on all imports. The move creates a 'murky' outlook for global businesses as the administration shifts from targeted levies to a broad-based trade tax effective almost immediately.
The U.S. Supreme Court has struck down President Donald Trump’s sweeping import tariffs, ruling that the executive branch overstepped its authority under the International Emergency Economic Powers Act (IEEPA). Led by former Acting Solicitor General Neal Katyal, the legal challenge successfully argued that the power to impose taxes remains the exclusive domain of Congress.