Urgent: US Supreme Court Rules 6:3 Against Trump's Tax Measures, Declares Overreach of Presidential Power

On February 20, 2024, Reuters reported that the US Supreme Court delivered a ruling on tax measures implemented by President Donald Trump against global trading partners, determining the measures were unlawful. Last year, Trump used the International Emergency Economic Powers Act (IEEPA) to impose retaliatory tariffs worldwide without congressional approval, despite Congress being the sole entity constitutionally authorized to levy taxes. The Supreme Court, led by Chief Justice John Roberts, voted 6-3 to uphold a lower court's decision that Trump exceeded his executive powers by using emergency legislation to impose tariffs. The justices noted that Trump failed to demonstrate clear congressional authorization for such actions. The ruling effectively cancels Trump's controversial tariff policy that had caused significant disruption in global financial markets. Economists estimate the total collected tariffs could be as high as $175,000 million, and the US government may be required to refund these collections. Trump maintains that his tariff policy was crucial for US economic interests and claims he was protecting the country from long-standing economic exploitation by other nations.