The decision does not affect all of Trump’s tariffs but invalidates those implemented using an emergency law.
Delivering a major blow to President Donald Trump, the Supreme Court on Friday ruled that he exceeded his authority when imposing sweeping tariffs using a law reserved for a national emergency.
The justices, divided 6-3 held that Trump’s aggressive approach to tariffs on products entering the United States from across the world was not permitted under a 1977 law called the International Emergency Economic Powers Act (IEEPA).
Businesses will get refunds, but not any of the consumers who paid higher prices for the tariffed goods.
I doubt we’re likely to see many prices come back down from their tariff-inflated values either.
Like I said, I knew the answer already.