US Supreme Court Rejects Trump's Global Tariffs, Citing Overreach

• The US Supreme Court struck down Donald Trump's sweeping global tariffs, ruling he exceeded his authority under the International Emergency Economic Powers Act (IEEPA).
• The 6-3 conservative-majority decision stated IEEPA does not authorize the president to impose tariffs, a power Congress reserves for itself with clear constraints.
• Chief Justice John Roberts emphasized that IEEPA contains no reference to tariffs or duties, and using it for such would be a 'transformative expansion' of presidential authority.
• Trump stated he has a 'backup plan' for tariffs despite the verdict, while business owners and Democrats hailed the ruling as a victory.
• The ruling does not affect existing tariffs on steel and aluminum or ongoing sector-specific tariff probes.