Wednesday briefing: Is the tide turning against Trump on tariffs?
The US Supreme Court ruled that Donald Trump unlawfully imposed tariffs, challenging his economic policies.
The US Supreme Court recently determined that Donald Trump had overstepped his authority by imposing global tariffs, a decision that significantly undermines a key aspect of his economic strategy. In a decisive 6-3 ruling, the court concluded that the executive powers Trump invoked were not supported by the law he cited from 1977. This ruling represents a critical juncture in Trump’s approach to tariffs, which had been a fundamental element of his administration's economic plan, aiming to reshape trade relations globally in favor of the United States.
In response to the ruling, Trump voiced his displeasure, labeling the justices as 'a disgrace to the nation' and quickly announced a new 15% baseline global tariff, asserting that he would utilize different powers to implement this measure. This reaction underscores Trump's determination to maintain his tariff policies despite legal setbacks and indicates that he may continue to pursue contentious trade practices. The ruling raises significant constitutional questions about the limits of presidential power, particularly regarding economic policies that affect international relations.
The broader implications of this decision are yet to be fully realized, particularly for the global economy and US trade partnerships. Experts, including political economy scholars like Stephanie Rickard, suggest that this could mark a turning point in US trade policy, prompting a reevaluation of the administrative approach to tariffs and international trade. As the fallout from this ruling develops, it has the potential to influence not only domestic economic conditions but also America's standing in the global market, possibly complicating relationships with other nations.