The Supreme Court’s recent 6-3 ruling invalidated President Trump’s “Liberation Day” tariffs, citing that the International Emergency Economic Powers Act does not grant the president broad tariff powers. In response, Trump imposed a temporary 15% global tax on U.S. imports, exacerbating trade uncertainty for U.S. businesses and foreign partners. The Section 122 tariffs are set to expire in 150 days unless extended by Congress, raising questions about future trade policies and agreements.
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