Supreme Court Says Trump’s Tariffs Are Illegal. Here’s What Happens Next
By CNBC
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The Supreme Court ruled that the Trump Administration lacked the authority to implement liberation day emergency tariffs. The ruling threw out the legal underpinning for many of the tariffs that Trump insists are essential for the U.S. economy and for rebuilding America’s shrinking manufacturing base. Trump’s reciprocal tariffs and his drug-trafficking-related duties both hinged on his administration’s expansive interpretation of IEEPA. But the court’s majority ruled Friday that IEEPA “does not authorize the President to impose tariffs.” CNBC’s Jeff Cox explain what lies ahead for U.S. businesses. Reporting by: Jeff Cox Edited by: Carlos Waters Animation: Jason Reginato Senior Managing Producer: Shawn Baldwin Additional Footage: Getty Images Additional Sources: Committee for a Responsible Budget, Treasury Department » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus About CNBC: From 'Wall Street' to 'M
Tags: TB, tariffs, liberation day, Supreme Court, Donald Trump, taxes, United States, politics, 10% global tariff, Section 122, IEEPA, trade, policy, economics, CNBC, Jeff Cox, inflation, economy, news, White House
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