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Statutory Deadline
The 150-day window for Section 122 tariffs expires unless extended by Congress.
Expected Implementation
Tariffs projected to take effect at U.S. ports of entry.
Implementation Date
Scheduled start for the new temporary global tariff regime.
USTR Response
Jamieson Greer issues statement affirming the stability of bilateral trade deals.
Executive Order Signed
Trump signs 10% global tariff order under Section 122 from the Oval Office.
White House Response
President Trump calls the ruling 'deeply disappointing' and 'a disgrace' during a press briefing.
SCOTUS Ruling
Supreme Court rules against the administration's broad tariff-setting authority.
15% Escalation
Trump announces 15% tariff via Section 122 on Truth Social.
SCOTUS Decision
The Supreme Court issues its final ruling upending the executive tariff authority.
Supreme Court Ruling
SCOTUS rules 6-3 that the administration overstepped authority using IEEPA for broad tariffs.
SCOTUS Ruling
The Supreme Court invalidates the sweeping tariff measures in a major blow to trade policy.
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.
Supreme Court Ruling
SCOTUS strikes down IEEPA tariffs as unconstitutional revenue generation.
Legal Challenges
Industry groups and trading partners file suits reaching the US Supreme Court.
Tariff Implementation
Trump administration expands unilateral tariffs using national security justifications.
Revenue Milestone
US government reaches $134 billion in collected levies under the new tariff regime.
Appeals Court Ruling
The DC Circuit Court upholds the tariffs, prompting an emergency appeal to the Supreme Court.
The US Supreme Court's decision to strike down emergency tariffs has triggered a massive shift in global trade dynamics, primarily benefiting major exporters like China and India. This ruling curtails executive power over trade policy and provides immediate relief to international supply chains previously strained by protectionist levies.
The US Supreme Court struck down President Trump’s previous global tariffs as an unconstitutional overreach of executive power, prompting an immediate pivot to a 15% levy under the 1974 Trade Act. This legal maneuver sets up a five-month window of heightened trade tension before requiring Congressional intervention, potentially triggering $130 billion in refund claims.
US Trade Representative Jamieson Greer clarified that existing bilateral trade agreements remain legally sound despite a Supreme Court ruling against the administration's broader tariff policies. The statement aims to reassure global markets and trading partners that negotiated deals will not be unraveled by the judicial setback.
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 US Supreme Court has invalidated the Trump administration's sweeping tariff regime, ruling that the President exceeded his authority under the 1977 International Emergency Economic Powers Act. The decision jeopardizes over $134 billion in collected levies and creates immediate uncertainty for global supply chains and domestic inflation.
President Donald Trump has signed an executive order imposing a 10% global tariff on all imports, pivoting to Section 122 of the Trade Act of 1974 after the Supreme Court struck down his previous trade measures. The new order is designed to take effect almost immediately, though it carries a 150-day statutory limit unless extended by Congress.
The US Supreme Court has issued a definitive ruling curtailing the President's authority to unilaterally impose broad trade tariffs, sparking a sharp rebuke from Donald Trump. This decision shifts the balance of power over international trade back to Congress, potentially dismantling a cornerstone of the administration's economic policy.
President Donald Trump expressed sharp disapproval of a U.S. Supreme Court decision that curtails the executive branch's power to impose unilateral trade tariffs. The ruling represents a significant legal setback for the administration's trade agenda and introduces new volatility for global markets.
The U.S. Supreme Court has delivered a landmark blow to President Donald Trump's economic agenda by striking down his sweeping global tariffs. The ruling triggered an immediate rally in trade-sensitive sectors, particularly apparel and automotive stocks, as investors bet on lower input costs and eased inflationary pressures.