Supreme Court Strips Trump's Tariff Powers
The U.S. Supreme Court has curtailed President Trump’s ability to impose tariffs under a national emergency law, although it confirmed his right to a full embargo. In response, Trump announced a blanket 10% tariff on all imports, urging countries to honor trade agreements with the U.S.
The U.S. Supreme Court has restricted President Donald Trump's authority to enforce tariffs under a national emergency statute, a move Treasury Secretary Scott Bessent says strips away Trump's leverage.
Despite this ruling, Trump retains the power to implement a comprehensive embargo, according to Bessent, who believes the President's approach may become more stringent.
Reacting swiftly, Trump declared a blanket 10% tariff on imports from all countries, urging global compliance with previously established trade agreements to prevent further economic disruptions.
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