The Supreme Court struck down President Trump's global tariffs on Friday, delivering what the Wall Street Journal calls a "stinging repudiation" of a central part of his economic agenda. The 6-3 decision focused on whether Trump had the authority to invoke the emergency-powers law of 1977 to enact such tariffs, something no president had done. Justices Clarence Thomas, Samuel Alito, and Brett Kavanaugh dissented from the majority opinion written by Chief Justice John Roberts, per the New York Times.
- "The president asserts the extraordinary power to unilaterally impose tariffs of unlimited amount, duration, and scope," Roberts wrote. "In light of the breadth, history, and constitutional context of that asserted authority, he must identify clear congressional authorization to exercise it."
The next steps could be complicated. The White House might have to unwind some trade deals, and the administration has suggested it might try to replace any invalidated tariffs with different levies. The AP notes that Trump has been vocal about the case, "calling it one of the most important in US history and saying a ruling against him would be an economic body blow to the country." While he won't be happy, Wall Street investors are in the opposite camp. Stocks were in the red before the ruling but have since rebounded into positive territory, notes CNBC. The Dow was up about 200 points in the immediate aftermath of the ruling.
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