Supreme court: Trump’s tariffs take a hit
WASHINGTON — The Supreme Court delivered a major blow to President Donald Trump, ruling Friday that he exceeded his authority when imposing sweeping tariffs using a law reserved for a national emergency. The justices, divided 6-3, held that Trump's aggressive approach to tariffs on products entering the United States from across the world was not permitted under a 1977 law called the International Emergency Economic Powers Act (IEEPA). The ruling invalidates many, but not all, of Trump’s tariffs. He could still seek to reimpose some tariffs using other laws. The White House had no immediate comment on the ruling, but Trump called it a “disgrace" after being informed about it during a meeting with governors, according to a person familiar with his reaction. He also said he had a backup plan, this person said. As recently as Thursday, Trump bemoaned the possibility of the tariffs being struck down. “Without tariffs, this country would be in such trouble right now,” he said. Despite Trump's rhetoric, stocks rallied…
20 Feb 00:00 · Inlandnewstoday