Source: Popular Information
by Judd Legum
“On Friday, the Supreme Court struck down sweeping tariffs that President Trump had imposed globally. Trump had claimed authority under a 1977 law, the International Emergency Economic Powers Act (IEEPA). But the IEEPA did not mention tariffs and, in a 6-3 decision, the Supreme Court ruled that Trump exceeded his authority. Trump, in a fit of pique, immediately announced that he was imposing a new 10% global tariff, citing Section 122 of the Trade Act of 1974. The next day, Trump raised the tariff to 15%. Several prominent outlets falsely reported that the Trade Act gives Trump the legal authority to impose temporary tariffs of up to 15% in response to trade deficits …. Section 122 of the Trade Act gives the president the authority to temporarily impose tariffs in response to ‘large and serious United States balance-of-payments deficits,’ not trade deficits. The United States does not have a balance-of-payments deficit, much less a large and serious one.” (02/24/26)
https://popular.info/p/trumps-new-tariffs-are-just-as-illegal