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.
Surcharge Expiration
The 150-day temporary surcharge period under Section 122 is set to expire unless renewed or replaced.
Projected Expiration
The 150-day statutory limit for Section 122 tariffs is reached unless extended by Congress.
Tariff Implementation
The 10% global tariff officially takes effect for all trade partners.
Effective Date
The 15% global tariffs are scheduled to go into effect for all U.S. imports.
Executive Response
VP JD Vance criticizes the ruling; President Trump announces a pivot to Section 122.
Section 122 Order
Trump signs an executive order for a 10% global tariff surcharge effective immediately.
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.
Supreme Court Ruling
The SC strikes down IEEPA-based tariffs in a 6-3 decision, citing executive overreach.
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.
Supreme Court Ruling
SC rules 6-3 that IEEPA does not authorize the President to levy duties.
Executive Order Signed
Trump signs new order invoking Section 122 of the Trade Act of 1974.
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.
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.
Following a Supreme Court ruling that struck down the use of emergency powers for trade levies, President Trump has invoked Section 122 of the Trade Act of 1974 to impose a 10% global tariff. The move recalibrates trade costs for partners like India and introduces a 150-day window of heightened supply chain volatility.
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.
The US Supreme Court ruled 6-3 that the executive branch cannot use the IEEPA to impose broad-based tariffs, leading the Trump administration to immediately pivot to Section 122 of the Trade Act of 1974. This shift introduces a 10% global tariff surcharge and a new 150-day window of regulatory uncertainty for global supply chains.