U.S. stock futures declined Sunday evening after Trump raised a new global tariff to 15% under Section 122 of the Trade Act of 1974, which caps surcharges at that level for 150 days.
The Supreme Court ruled 6-3 on Friday that Trump exceeded his authority by imposing sweeping tariffs under the International Emergency Economic Powers Act.
The EU demanded "full clarity" from Washington, while U.S. Trade Representative Jamieson Greer said on Sunday that existing trade deals would be honored.
