Trump Vows New 10% Tariffs After Supreme Court Loss

In a landmark decision, the U.S. Supreme Court ruled 6-3 that President Trump's global tariffs were enacted without clear authorization from Congress, marking the first time the court has overturned a major policy from Trump's second term. The ruling has left many of Trump's individual industry tariffs, such as those on steel, aluminum, and vehicles, intact as they fall under different legal authority. The legal complexities surrounding this decision raise questions, particularly about refunds for companies that paid the now-struck tariffs.

In response to the Supreme Court ruling, President Trump announced a new 10% global tariff based on a different legal basis (Section 122 of the International Emergency Economic Powers Act). These temporary tariffs are intended to replace those struck down by the court while the administration works to establish longer-lasting tariffs under Section 301 of the Trade Act. Experts debate how these tariffs will influence company decisions and stress that the legal legitimacy of the new tariffs could be stronger.

Recent data from the Commerce Department shows the U.S. economy is experiencing slower growth, with GDP only increasing by 1.4% in the last quarter compared to a significant drop from the previous quarter's 4.4% growth. Additionally, inflation is on the rise, prompting caution among Federal Reserve officials regarding further interest rate cuts, highlighting the heightened economic uncertainty.

Florida Representative María Elvira Salazar has voiced concerns about the impact of Trump's hardline immigration policies on the Republican Party's performance in upcoming midterm elections. Although supportive of the president, Salazar emphasizes the need for nuanced approaches to immigration, advocating for the Dignity Act, which provides legal status without a path to citizenship and aims to reform perceptions within the Hispanic community towards Republicans.