Now this was basically what Trump talked about most of the time. What happens next? Does he roll them back to ZERO? Many other countries are tariffing us, what about that?
I was reading some foreign press and they are all jubilant.
I think this will juice up the stock market SHORT TERM, but we are effect LONG TERM. But this has been our tragedy, we always think about the short term money grab which is why we have hollowed out the country.
Supreme Court rules that Trump's sweeping emergency tariffs are illegal
https://www.cnn.com/2026/02/20/politics/supreme-court-tariffs
I was reading some foreign press and they are all jubilant.
I think this will juice up the stock market SHORT TERM, but we are effect LONG TERM. But this has been our tragedy, we always think about the short term money grab which is why we have hollowed out the country.
Supreme Court rules that Trump's sweeping emergency tariffs are illegal
https://www.cnn.com/2026/02/20/politics/supreme-court-tariffs
Quote:
The Supreme Court on Friday ruled that President Donald Trump violated federal law when he unilaterally imposed sweeping tariffs across the globe, a striking loss for the White House on an issue that has been central to the president's foreign policy and economic agenda.
The decision is arguably the most important loss the second Trump administration has sustained at the conservative Supreme Court, which last year repeatedly sided with the president in a series of emergency rulings on immigration, the firing of the leaders of independent agencies and deep cuts to government spending.
Chief Justice John Roberts wrote the majority opinion and the court agreed 6-3 that the tariffs exceeded the law. The court, however, did not say what should happen to the more than $130 billion in tariffs that has already been collected.
"The president asserts the extraordinary power to unilaterally impose tariffs of unlimited amount, duration, and scope," Roberts wrote for the court. "In light of the breadth, history, and constitutional context of that asserted authority, he must identify clear congressional authorization to exercise it."
The emergency authority Trump attempted to rely on, the court said, "falls short."
Justices Amy Coney Barrett and Neil Gorsuch joined with Roberts and the three liberal justices in the majority. Justices Clarence Thomas, Samuel Alito and Brett Kavanaugh dissented.
In his opinion, Roberts brushed aside an argument from the administration that the president had power to use tariffs to regulate commerce. That was an issue that came up during the oral arguments last year as Trump suggested the president had inherent authority to issue the tariffs.
"When Congress grants the power to impose tariffs, it does so clearly and with careful constraints," Roberts wrote. "It did neither here."
"We claim no special competence in matters of economics or foreign affairs," Roberts wrote. "We claim only, as we must, the limited role assigned to us by Article III of the Constitution. Fulfilling that role, we hold that IEEPA does not authorize the president to impose tariffs."
