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).
Yeah, I had the same thought after seeing how the DJIA reacted. A small number of people are going to make a nice bit of money from this. I wonder who. 🤔
Lutnick for one, he’s reportedly been buying up refund rights through one of his companies.