Shipper ALERT: Supreme Court Ruled Against Trump’s Tariffs
Big news dropped:
The Supreme Court announced a 6-3 ruling today that President Trump’s usage of the International Emergency Economic Powers Act (IEEPA) to pronounce sweeping tariffs exceeded the emergency powers Congress granted in the law.
The Trump Administration has said it has other legal justifications to use for its tariffs, but it has also said the treasury has the money to issue refunds if it must.
It is unknown as of yet whether refunds will be necessitated in light of the Supreme Court’s decision. And not all of President Trump’s tariffs fall under this under this ruling on IEEPA.
The fallout from the Supreme Court’s tariff ruling will be an ongoing story you can expect to read more about in Universal Cargo’s blog in the upcoming weeks.
