Supreme Court strikes down $133B in Trump-era tariffs, citing lack of presidential authority.

The US Supreme Court invalidated the Trump administration's $133 billion in emergency tariffs, ruling that the president lacked the authority to impose them under the International Emergency Economic Powers Act. The decision, which did not address refund procedures, has caused confusion among importers seeking repayment. The government has requested a four-month delay in refund-related court proceedings, citing complexity and the possibility of a rehearing, but no formal petition has been filed. President Trump criticized the ruling, questioned its outcome, and hinted at a new 15% global tariff while legal challenges are ongoing.