Supreme Court says Trump global tariffs are illegal

(Courtenay Brown – Axios) The Supreme Court struck down a suite of President Trump’s tariffs on Friday, a historic blow to the administration’s economic agenda. The big picture: In a rare rebuke of Trump’s power, the nation’s highest court said many of the administration’s tariffs were illegal. The 6-3 ruling sets a new boundary for what policies presidents can impose without congressional approval. What they’re saying: “[T]he Government reads IEEPA to give the President power to unilaterally impose unbounded tariffs and change them at will. That view would represent a transformative expansion of the President’s authority over tariff policy,” the ruling says, referring to the International Emergency Economic Powers Act. Threat level: The ruling might give way to a potentially chaotic refund process that could see billions of dollars returned to businesses that paid the tariffs the Supreme Court now deems illegal. – Supreme Court says Trump global tariffs are illegal