Supreme Court limits Trump's tariff powers as trade duties surge 300% since his return, generating $124 billion in revenue but raising consumer concerns.

President Trump reacts to the Supreme Court ruling striking down his tariffs. The president slammed the decision as a "disgrace to our nation" and vowed to work around it.

Businesses seeking refunds to recoup their tariffs expenses are likely to have to wait awhile to receive them. Even then, whether they return any money to consumers is an open question, but it appears unlikely in many cases. Some consumer champions already seemed to be anticipating that outcome and were warning major corporations against it.

Top court issues historic rebuke of US president’s use of emergency powers to impose duties on trading partners

Sen. Maria Cantwell (D-Wash.) penned a letter to Treasury Secretary Scott Bessent asking for a “detailed explanation” of how the Department of the Treasury will dole out tariff refunds in the wake of

The Supreme Court blocked Trump's IEEPA tariffs, but he has other ways to impose sweeping duties — some of which are already being dusted off.

Trump kicked off his global tariff push on Apr. 2, 2025, a date he dubbed “Liberation Day.” He imposed so-called “reciprocal tariffs” ranging from 10% to 50% on a broad range of countries, from China to Canada. He argued that persistent trade deficits constituted a national emergency.