Last mentioned: Mar 25, 2026
Expected Ruling
The Supreme Court is expected to issue a final decision by the end of its current term.
SCOTUS Oral Arguments
The US Supreme Court hears arguments in the appeal of the lower court's ruling against metering.
Implementation Date
Tariffs are scheduled to go into effect at 12:01 a.m. ET according to White House fact sheets.
Effective Date
The 15% global tariffs are scheduled to go into effect for all U.S. imports.
Implementation Date
Scheduled start date for the new global tariff regime according to White House fact sheets.
Section 122 Pivot
President Trump announces a 10% global tariff using Section 122 of the Trade Act of 1974 to bypass the ruling.
Executive Backlash
Donald Trump issues public statements criticizing the 'betrayal' by his judicial appointees.
Executive Response
Trump lashes out at justices and signs EO for new 10% global tariff.
Escalation to 15%
Trump increases the rate to 15% via Truth Social, citing Section 122 authority.
Rate Hike to 15%
Trump elevates the rate to the legal maximum of 15% via Truth Social, citing Section 122.
Escalation to 15%
Trump raises the tariff rate to the legal maximum of 15% via a social media post.
Supreme Court Ruling
The Court strikes down broad IEEPA tariffs in a 6-3 decision, citing lack of explicit Congressional authorization.
Vance Response
VP JD Vance issues a statement on X criticizing the court for 'lawlessness' and hindering industrial protection.
SCOTUS Decision
The Supreme Court reverses the lower court, ruling 6-3 against the administration's tariff implementation.
SCOTUS Ruling
Supreme Court strikes down reciprocal tariffs in a 6-3 decision.
Market Rally
Stoxx 600 and US stocks rise; Stoxx 600 hits all-time record.
SCOTUS Ruling
The Supreme Court strikes down global tariffs in a 6-3 decision, citing lack of executive authority.
Market Record
The European Stoxx 600 index hits a record high as trade tensions momentarily ease.
Executive Response
President Trump lashes out at the court and announces a new 10% Section 122 tariff.
SCOTUS Ruling Issued
The Supreme Court strikes down global reciprocal tariffs in a 6-3 vote.
The US Supreme Court signaled a likely victory for the Trump administration in a case concerning the 'metering' of asylum seekers at the US-Mexico border. The justices' questioning focused on the legal definition of 'arriving' in the US, potentially granting the government broad authority to delay processing claims when border facilities are over capacity.
President Trump has escalated a proposed global tariff from 10% to 15% using Section 122 of the 1974 Trade Act. The move follows a Supreme Court ruling that blocked his previous use of emergency powers for trade duties.
President Trump has increased his proposed global tariff from 10% to 15%, utilizing Section 122 of the 1974 Trade Act to bypass a recent Supreme Court setback. This temporary measure lasts 150 days, creating immediate volatility for global supply chains as the administration seeks more permanent legal avenues for its protectionist agenda.
President Donald Trump has escalated global import duties to a 15% maximum, pivoting to Section 122 of the 1974 Trade Act after the Supreme Court invalidated his previous emergency-power tariffs. This temporary measure faces a 150-day legislative deadline and significant skepticism from a Republican-controlled Congress concerned about inflation.
The STOXX Europe 600 reached a historic high after the US Supreme Court issued a 6-3 ruling striking down President Trump’s sweeping reciprocal tariffs. While the decision offers billions in potential corporate refunds, the White House has already countered with a fresh 10% global levy, signaling a continued legal battle over trade authority.
The US Supreme Court's 6-3 ruling against the administration's 'reciprocal' tariffs has triggered a record-breaking rally in European markets and a surge in US equities. While the decision opens the door for billions in potential refunds, President Trump has immediately countered with a new 10% global levy under Section 122.
The US Supreme Court has ruled 6-3 against President Trump’s sweeping reciprocal tariffs, citing a lack of congressional authority. While the decision sparked a record-breaking rally for the Stoxx 600, Trump has already retaliated by announcing a new 10% global tariff under Section 122.
The US Supreme Court has invalidated the Trump administration's sweeping global tariffs in a landmark 6-3 ruling, citing executive overreach. While markets rallied to record highs on the news, President Trump immediately announced a new 10% 'Section 122' tariff to maintain his trade agenda.
The US Supreme Court has invalidated President Trump’s sweeping reciprocal tariffs in a landmark 6-3 ruling, citing an overreach of executive authority. The decision has triggered a global market rally, with the Stoxx 600 hitting record highs, while opening the door for billions in corporate tax refunds.
The U.S. Supreme Court has issued a landmark ruling limiting executive authority over tariff implementation, prompting a sharp public rebuke from Donald Trump. The decision marks a critical check on trade protectionism and reinforces judicial independence regarding delegated legislative powers.
The U.S. Supreme Court has struck down broad-based tariffs imposed under the International Emergency Economic Powers Act, ruling 6-3 that the executive branch exceeded its authority. In response, President Trump has invoked Section 122 of the Trade Act of 1974 to impose a temporary 10% global tariff.