Supreme Court rules against Trump's tariffs

(Sharecast News) - The US Supreme Court ruled on Friday that President Donald Trump's global tariffs are illegal. Chief Justice John Roberts wrote in his opinion: "The Government reads IEEPA to give the President power to unilaterally impose unbounded tariffs and change them at will.

"That view would represent a transformative expansion of the President's authority over tariff policy."

Enacted in 1977, the International Emergency Economic Powers Act (IEEPA) gives the President economic tools to address significant foreign threats.

Roberts said it was telling that in IEEPA's half century of existence, no President had invoked the statute to impose any tariffs, "let alone tariffs of this magnitude and scope".

The lack of a historical precedent, "coupled with the breadth of authority that the President now claims, suggests that the tariffs extend beyond" Trump's "legitimate reach", Roberts said.

The Supreme Court's justices voted 6-3 that Trump did not have the authority to impose tariffs under IEEPA.

--More to follow--