Trump responds to SCOTUS telling him he can't impose tariffs by imposing a 10% "global tariff" [View all]

“IEEPA does not authorize the President to impose tariffs,” read the decision, written by Chief Justice John Roberts.

Trump attacked the high court in his first response Friday, particularly the justices in the majority, saying they were a "disgrace to our nation." He hinted that the administration would pursue alternative methods toward implementing its trade goals.

His first move: Imposing a 10% "global tariff" under Section 122 of the Trade Act of 1974. That statute allows the president to impose tariffs of up to 15% for up to 150 days to address trade deficits. That authority, however, has never been used to impose tariffs.

The ruling also raised the question of refunds, which could return over $100 billion to importers in the months ahead. It upholds two lower courts — including the US Court of International Trade — that previously found Trump did not have the authority to impose global tariffs using the 1977 law.

https://www.yahoo.com/finance/news/live/tariff-ruling-live-coverage-trump-attacks-supreme-court-says-hes-imposing-10-global-tariff-184403193.html