Tariff Takedown! Supreme Court Blocks Trump, But A New Trade War Looms?
The Supreme Court struck down former President Trump's tariffs imposed under the International Emergency Economic Powers Act (IEEPA). In response, Trump proposed new 10-15% global tariffs under Section 122 of the 1974 Trade Act, creating uncertainty for trading partners. While some countries like China and South Korea might see relief from previous duties, others like Japan and the UK could face new tariffs. Financial markets showed mixed reactions, with initial U.S. futures dipping but Asian markets mostly advancing.
