Last mentioned: 2d ago
Implementation
Tariffs expected to take effect at U.S. ports of entry.
Tariff Announcement
Trump announces 10% global tariff on Truth Social from the Oval Office.
Executive Order Signed
New tariffs signed under Section 122 of the Trade Act of 1974.
Refund Demands
Governors Newsom and Pritzker demand immediate refunds with interest for state residents.
Supreme Court Ruling
SC rules 6-3 that IEEPA-based tariffs overstepped executive authority.
SCOTUS Ruling
Supreme Court strikes down the tariffs in a 6-3 decision, citing executive overreach.
Revenue Milestone
Total tariff revenue collected surpasses $100 billion mark.
Tariffs Imposed
President Trump invokes emergency powers to implement broad global tariffs.
Following a landmark 6-3 Supreme Court ruling striking down emergency-power tariffs, Democratic governors are demanding the federal government refund over $130 billion to households and businesses. The decision creates a massive fiscal and logistical challenge for the Treasury as it faces unprecedented claims for duties collected over the past year.
President Trump has signed an executive order imposing a blanket 10% global tariff on all imports, pivoting to Section 122 of U.S. trade law after the Supreme Court curtailed his previous authority. The move, effective almost immediately, creates a 150-day window of heightened costs for all international supply chains without the possibility of country-specific exemptions.