The U.S. Supreme Court has struck down President Donald Trump's broad executive orders imposing global tariffs, ruling that he overstepped his authority.
This 6-3 decision is seen as a significant setback to Trump's economic agenda, leaving businesses and markets seeking clarity. A key unanswered question is the process for refunding the over $133 billion collected through these tariffs.
Experts warn that consumers may continue to feel the effects of increased costs due to inflation outpacing wage growth. The ruling also raises constitutional questions about the balance of power in trade policy.
In response, Trump announced plans to implement a new 10% global tariff under a different legal authority.
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