Trump Refuses Tariff Refunds, Imposes New 'Devastating' 15% Tax After Court Setback

• US President Donald Trump has hardened his stance after the Supreme Court declared his emergency tariffs illegal, immediately imposing a new 15% global tariff.
• Trump is now weaponizing Section 122 of the 'Trade Act 1974' to impose temporary tariffs for 150 days, bypassing lengthy investigation processes.
• Illinois Governor J.B. Pritzker sent Trump an $8.7 billion invoice, claiming illegal tariffs cost each family in his state $1700, though refunds would go to companies.
• Trump stated the refund battle could drag on for 2-5 years, leaving thousands of companies, especially small businesses, in a difficult legal fight.
• The new global tariffs create uncertainty for India and the global market, with potential for supply chain collapse if Trump takes military action amidst rising tensions.