SCOTUS strikes down Trump’s IEEPA ‘Liberation Day’ tariffs, while leaving other statutory trade powers intact

The U.S. Supreme Court (SCOTUS) voted 6-3 on Friday to invalidate President Donald Trump's "Liberation Day" tariffs, ruling that they were not authorized by the 1977 International Emergency Economic Powers Act (IEEPA). The ruling does not, however, preclude the use of different statutory mechanisms for tariffs.