Lena Petrova: SCOTUS Blocks Trump’s Tariffs, Refund Battle Begins

In a significant decision that could reshape the U.S. trade landscape, the Supreme Court has ruled that President Trump overstepped his authority by imposing sweeping tariffs on major trading partners, including China, Canada, and Mexico, under the International Emergency Economic Powers Act (IEEPA) of 1977. The 6-3 ruling has far-reaching implications, not only for Trump’s trade policy but also for the economy and American consumers. The Supreme Court’s decision effectively invalidates a substantial portion of the tariffs introduced during Trump’s presidency, which were estimated to impact the economy by around $3 trillion over the next decade. By declaring that Trump…