Last mentioned: 1d ago
SCOTUS Ruling
Supreme Court invalidates the global tariffs in a 6-3 decision.
White House Pivot
Administration announces a new 10% worldwide tariff and vows to fight refunds.
Liberation Day
President Trump expands tariffs to dozens of global trading partners using IEEPA.
Refund Litigation
Expected period of prolonged legal battles over duty recovery for importers.
Statutory Expiration
Expected expiration of the 150-day temporary tariff window unless renewed or altered.
Effective Date
The 15% global tariffs are scheduled to go into effect for all U.S. imports.
Global Reaction
International markets and trade partners respond to the shift in U.S. trade leverage.
Rate Hike to 15%
Trump elevates the rate to the legal maximum of 15% via Truth Social, citing Section 122.
Tariff Hike
President Trump increases the global duty to 15%, citing it as the 'fully allowed' level.
SCOTUS Ruling
Supreme Court strikes down unilateral executive tariff authority in a 6-3 decision.
Market Volatility
U.S. stock indexes surge briefly before settling as analysts digest the ruling's complexity.
Executive Retaliation
Trump signs an executive order repealing old tariffs and a proclamation imposing a new 10% levy.
SCOTUS Ruling
Supreme Court invalidates the administration's use of emergency powers for broad tariffs.
10% Tariff Announced
Trump announces a 10% global tariff as an immediate response to the court's decision.
SCOTUS Ruling
Supreme Court rules 6-3 that the administration's previous tariff program is illegal.
Initial Response
Trump announces a new 10% global levy using a different legal avenue shortly after the ruling.
President Trump has unilaterally raised the global import duty to 15%, bypassing a Supreme Court ruling that invalidated his previous trade policy. The new temporary measure targets nearly all US imports for a 150-day period, creating immediate volatility for global supply chains.
President Trump has increased his proposed global tariff from 10% to 15%, utilizing Section 122 of the 1974 Trade Act to bypass a recent Supreme Court setback. This temporary measure lasts 150 days, creating immediate volatility for global supply chains as the administration seeks more permanent legal avenues for its protectionist agenda.
The U.S. Supreme Court has ruled 6-3 that President Trump overstepped his executive authority by using the International Emergency Economic Powers Act to impose sweeping global tariffs. In immediate defiance, the White House announced a new 10% worldwide tariff and signaled a protracted legal battle over potential tax refunds for importers.
The U.S. Supreme Court has issued a landmark 6-3 ruling stripping the executive branch of unilateral tariff-setting authority, nullifying billions in existing duties. President Trump immediately defied the spirit of the ruling by invoking emergency powers to impose a new 10% blanket tariff for 150 days.