Supreme Court blocks Trump's emergency tariffs, billions in refunds may be owed
The Supreme Court ruled Friday that Donald Trump was not authorized to implement emergency tariffs to ostensibly block illegal drug flows and offset trade deficits.
It's not immediately clear what the ruling may mean for businesses that paid various "reciprocal" tariffs that Trump changed frequently, raising and lowering rates at will during tense negotiations with the United States' biggest trade partners.
Divided 6-3, Supreme Court justices remanded the cases to lower courts, concluding that the International Emergency Economic Powers Act (IEEPA) does not give Trump power to impose tariffs.