Trumped on Tariffs

Image by Ahmed.

Donald Trump’s “Liberation Day” just got squashed. The Supreme Court on February 20 denied, by a 6-3 decision, the Trump administration’s power to impose tariffs under the 1977 International Economic Emergency Powers Act (IEEPA). The ruling invalidates tariffs for around one quarter of all imports to the US—those from about 20 countries plus the EU.

Justice John Roberts, speaking for the majority, rejected the government’s argument that the IEEPA “gives the President...