Last mentioned: 1d ago
Refund Implementation
The U.S. Court of International Trade (CIT) is expected to establish refund procedures with CBP.
Tariffs Imposed
President imposes reciprocal and drug-trafficking tariffs citing IEEPA authority.
Refund Filing Window
Anticipated start of major corporate legal filings for duty restitution.
Effective Date
The global tariffs are scheduled to take effect at 12:01 a.m. ET.
Tariff Collection Halt
Customs and Border Protection expected to pause 'Liberation Day' duty collections.
Market Reaction
Global markets process the shift from permanent to temporary but broad-based tariffs.
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.
Rate Hiked to 15%
Trump increases the rate to 15%, citing Section 122 of the 1974 Trade Act.
Supreme Court Ruling
The Court issues a 6-3 decision striking down global tariffs.
Supreme Court Ruling
The Court strikes down the tariffs in a 6-3 decision, citing executive overreach.
Supreme Court Ruling
The SCOTUS declares the sweeping tariff program illegal and unconstitutional.
SCOTUS Ruling
Supreme Court strikes down the tariffs as unconstitutional in a 6-3 decision.
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.
Supreme Court Ruling
SCOTUS issues a ruling limiting the President's authority to impose extreme emergency tariffs.
SCOTUS Ruling
The U.S. Supreme Court invalidates Trump's previous tariff initiative, citing executive overreach.
10% Tariff Announced
Trump announces a 10% global tariff as an immediate reaction to the court's decision.
President Donald Trump has abruptly increased his proposed global tariff rate from 10% to 15%, the maximum allowed under Section 122 of the 1974 Trade Act. The move follows a Supreme Court ruling that invalidated his previous tariff framework, setting the stage for a 150-day window of heightened trade volatility.
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 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 ruled 6-3 that the International Emergency Economic Powers Act (IEEPA) does not authorize the President to impose tariffs, declaring 2025's sweeping trade levies unconstitutional. This decision creates a potential $175 billion liability for the federal government and leaves importers scrambling for a refund mechanism.
The U.S. Supreme Court has issued a landmark ruling declaring the Trump administration's broad tariff program illegal, citing an unconstitutional overreach of executive power. The decision is expected to provide immediate cost relief to U.S. importers while forcing a massive recalibration of global trade strategy.
The U.S. Supreme Court has invalidated President Donald Trump’s sweeping global tariff regime, ruling 6-3 that the administration exceeded its statutory authority. The decision curtails the use of federal emergency powers to bypass Congress on international trade policy.
The U.S. Supreme Court has invalidated President Donald Trump's sweeping 'Liberation Day' tariffs, ruling that the administration exceeded its authority under national emergency laws. This decision curtails executive power over trade and opens the door for U.S. importers to reclaim billions in paid duties.