US Edition
Chamber of Commerce: Tariffs ruling ‘welcome news’ for businesses, consumers
The Supreme Court invalidated tariffs under the International Emergency Economic Powers Act, but average tariffs remain near historic highs at 9.1%, Yale Budget Lab found.
- On Friday, the U.S. Supreme Court struck down duties imposed under the International Emergency Economic Powers Act, a ruling that affected business owners.
- After firms sued, Learning Resources and other companies challenged the policy after tariffs raised costs and prompted litigation, with some holding prices steady for months.
- Market indicators showed a muted rally, with the S&P 500 rising 0.7% and the Nasdaq about 0.9% on Friday, as investors weighed next steps, French added.
- Trade groups said firms warned that a complex refund process for tariffs already paid will temper celebrations, while the US Chamber of Commerce urged the lower court to ensure a seamless refund process for US importers.
- The Trump administration signaled it can pursue other tariff authorities, including a 10% global tariff under a separate statute, and `We have other ways- numerous other ways`, a Trump official said, expecting the issue to remain in court for years.
19 Articles
19 Articles
Los Angeles small business owner takes wait-and-see approach after Trump’s tariffs are struck down
Small business owners like Melkon Khosrovian, the owner of Greenbar Distillery in Los Angeles, are taking a wait-and-see approach after the Supreme Court rejected President Donald Trump’s main tariffs on Friday.
The Press-Enterprise
OC RegisterSouthern California small businesses take ‘wait and see’ approach on tariff ruling
Southern California’s businesses took a collective breath on Friday, pondering their next steps and potentially cheaper inventories, after the U.S. Supreme Court struck down sweeping tariffs imposed by the Trump administration. Before they could consider a lot of savings, President Donald Trump was threatening a global 10% tariff to replace the hundreds of tariffs the court said were imposed illegally. Some experts and business owners interviewe…
NTD Evening News Full Broadcast (Feb. 20)
The Supreme Court on Friday struck down most of President Donald Trump’s tariffs. In a 6–3 decision, the high court ruled that the president does not have the authority to unilaterally impose sweeping tariffs under a federal emergency powers law. Trump is vowing to impose a new 10 percent global tariff as he sharply criticizes the Supreme Court ruling limiting his use of tariffs. The president is floating an investigation into potential foreign …
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