The Powers VS USA
"The reality is the president is going to have tariffs as part of his trade policy going forward," Greer said, according to the paper.
On Friday, Feb. 20, the Supreme Court ruled that the president had exceeded his authority when he imposed unprecedented tariffs on imports from almost every U.S. trading partner, The New York Times reported. The 6-3 decision comes after three lower courts deemed the tariffs unlawful.
Last year, Trump made headlines and sent shock waves through the world when he invoked the International Emergency Economic Powers Act of 1977 to impose tariffs on imported goods, impacting more than 100 countries, according to the paper.
No other president had previously used the law to implement tariffs, and Trump's announcement meant that most imports faced a 10% baseline duty, with some nations navigating higher tariffs if they didn't concede to trade agreements with the U.S., TIME reported. In addition, certain imports from Mexico, Canada and China faced additional tariffs.
In response, many countries began increasing taxes on U.S. goods in retaliation. The U.S. stock market took a remarkable dive and politicians on both sides of the aisle spoke out in dissent.
The majority in the Supreme Court affirmed that imposing taxes and tariffs is a power that belongs to Congress — and the 1977 statute does not enable the president to impose tariffs as he did last year, according to the outlet.
The ruling eliminates the 10% baseline tariff that Trump announced in his "Liberation Day" speech, as well as the drug trafficking tariffs on Canada, Mexico and China, and the 145% effective rate on most Chinese goods.
