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Delivering a major blow to President Donald Trump, the Supreme Court ruled he exceeded his authority when imposing sweeping tariffs using a law reserved for a national emergency.
US and European stocks advanced on Friday and Treasury yields rose as investors absorbed a ruling by the US Supreme Court striking down President Trump's tariffs, while also parsing a weak GDP report and higher-than-expected inflation data.
The six Supreme Court justices who ruled against President Trump's sweeping tariffs listed different reasons for their decisions. CBS News' Jan Crawford breaks down the monumental ruling.
The Supreme Court on Friday invalidated most of President Donald Trump's tariffs, a cornerstone of his economic policy in his second term.
In a 6-3 decision, the Supreme Court ruled that President Trump doesn't have the authority to impose sweeping tariffs unilaterally. CBS News' Katrina Kaufman, Jessica Levinson and Ed O'Keefe report.
The Supreme Court on Friday ruled President Trump does not have the authority to unilaterally impose sweeping tariffs under a federal emergency powers law.
Trump Tariffs: The US Supreme Court today struck down President Donald Trump's far-reaching global tariffs, handing him a major setback.
Businesses could be owed nearly $150 billion in refunds after the Supreme Court struck down tariffs imposed under the International Emergency Economic Powers Act.
The Supreme Court has issued a ruling striking down President Trump's tariff agenda, his signature economic policy during his second term in office. Tony Dokoupil anchored this CBS News special report.
The Supreme Court ruled that President Trump does not have the authority to impose some of his sweeping global tariffs in a major defeat for the president’s global agenda. NBC News' Laura Jarrett has the details on the 6-3 decision.
The decision is a significant loss to US President Trump on an issue that has been critical for his economic agenda.
U.S. stocks briefly rose Friday in the minutes after the Supreme Court said that President Donald Trump could not impose sweeping tariffs under the International Economic Emergency Powers Act.
