Supreme Court Overturns Trump's Global Tariffs
The Supreme Court struck down Trump's global tariffs in a 6-3 decision, highlighting Congress's authority to impose taxes. Treasury Secretary Bessent emphasized alternative plans to maintain tariff revenue. Trump's reaction was mixed, expressing frustration with justices who opposed him but expressing confidence in the U.S. economy.
- Country:
- United States
In a landmark 6-3 decision, the Supreme Court struck down the global tariffs imposed by former President Donald Trump, emphasizing the constitutional power vested in Congress to impose taxes, including tariffs. Chief Justice John Roberts and his colleagues highlighted that the Executive Branch lacks the authority to impose such taxes.
Treasury Secretary Scott Bessent, addressing the Economic Club of Dallas, clarified that the court's decision focused strictly on the misuse of IEEPA authorities for revenue generation, not a blanket disapproval of tariffs. He assured continuity in tariff revenue through alternative legal channels.
President Trump responded defiantly, downplaying the significance of the ruling and expressing disappointment with justices Gorsuch and Barrett, who were nominated during his tenure. Despite this setback, Trump voiced confidence in the robust performance and future of the U.S. economy.
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