U.S. Supreme Court strikes down President Trump's IEEPA-based tariffs exceeding $175 billion.

Key facts

• The U.S. Supreme Court ruled 6-3 that President Trump's use of the International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs exceeded presidential authority.
• Chief Justice John Roberts authored the majority opinion, stating the president must point to clear congressional authorization for such tariff actions.
• The legal challenge was brought by affected businesses and 12 U.S. states, most Democratic-governed, against Trump's unprecedented IEERA tariff use.
• Penn-Wharton Budget Model economists estimated over $175 billion had been collected under IEEPA-based tariffs, now likely requiring refunds.
• IEEPA, a 1977 law traditionally used for sanctions, does not explicitly mention tariffs and was invoked by Trump for the first time to impose import taxes.
• Trump's administration is exploring alternative legal justifications, including national security provisions and retaliatory trade measures, to retain as many tariffs as possible.