The Supreme Court ruled today that President Trump lacked the legal authority to enact broad, worldwide tariffs without approval from Congress. The 6-3 ruling focused on tariffs issued under an emergency powers statute, including the “reciprocal” tariffs Trump placed on foreign countries.
Businesses could qualify for refund payments, though trade lawyers caution that repayments may take time, depending on future court decisions and how U.S. Customs processes the disbursements.
America’s trade imbalances are very real but attempting to course correct all at once by imposing tariffs so broadly – especially against long-standing allies and trading partners – is cause for concern. Our conversations in the past year with our members illustrate the financial impact has been significant, not just for manufacturers, but anyone involved in the supply chain and other industries whose clients prefer to work with non-American vendors.
The U.S. Chamber of Commerce offers analysis on what this means for small businesses (above).
