President Donald Trump rushed to salvage his signature tariffs after the Supreme Court struck down his global duties, pledging he would use different tools to work around the ruling and preserve import taxes he has cast as essential to his economic and foreign policy.
Trump opened his remarks by delivering a broadside against the Supreme Court, saying he was “ashamed of certain members” and that some of the justices were “frankly a disgrace to our nation.”
#politics #trump #worldnews #us #supremecourt
Voting 6-3, the court said Trump exceeded his authority by invoking a federal emergency-powers law to impose his “reciprocal” tariffs across the globe as well as targeted import taxes the administration says address fentanyl trafficking.
The justices didn’t address the extent to which importers are entitled to refunds, leaving it to a lower court to sort out those issues. If fully allowed, refunds could total as much as $170 billion – more than half the total revenue Trump’s tariffs have brought in.
#politics #trump #worldnews #supremecourt
———-
Like this video? Subscribe https://www.youtube.com/@Bloomberg-News
Bloomberg News is the first word in business news. Visit bloomberg.com for the latest on global business, markets and more.
Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginals
Bloomberg on YouTube:
https://www.youtube.com/@business
https://www.youtube.com/@markets
https://www.youtube.com/@BloombergTech
https://www.youtube.com/@BloombergPodcasts
Connect with us on social:
https://www.instagram.com/bloombergbusiness
https://www.linkedin.com/company/bloomberg-news
https://www.tiktok.com/@bloombergbusiness
https://www.facebook.com/bloombergbusiness
source
