Trump attacks Supreme Court, says he's imposing 10% 'global tariff' : r/investing - Reddit
The Supreme Court ruled 6-3 that President Trump's broad tariffs are illegal, striking down a key component of his second-term tariff program, which was imposed using the International Emergency Economic Powers Act. In response, Trump indicated he would impose a 10% global tariff under different authority, asserting there are "great alternatives." The ruling is expected to cause increased market volatility.
Trump attacks Supreme Court, says he's imposing 10% 'global tariff'
The Supreme Court scrambled the US trade landscape Friday when it struck down the centerpiece of President Trump’s second-term tariff program, ruling 6-3 that his sweeping blanket tariffs are illegal.
The ruling came just over one year into Trump’s second term and after skeptical questioning from key justices during oral arguments last November. It appears set to immediately halt a massive section of Trump’s tariffs, which were announced last year on “Liberation Day” using a 1977 law called the International Emergency Economic Powers Act (IEEPA).
“Trump said the new 10% global tariff would be "over and above our normal tariffs already being charged. “We have alternatives,” he said. “Great alternatives.””
Excerpt From
“Trump Says He Will Impose 10% Tariff Under Different Authority”
The Wall Street Journal
https://apple.news/AGe9XxCcDRmqnUkP10JOToA
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Expect volatility towards towards top side.
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