Watch: Trump to speak after Supreme Court strikes down tariffs

• The Supreme Court ruled 6-3 that the legal statute Trump cited does not authorize his major tariff programs
• The ruling represents a significant loss for Trump, whose economic and foreign policy relied heavily on his claimed power to impose tariffs unilaterally
• Trump announced a White House press briefing scheduled for 12:45 p.m. ET, approximately two hours after the court's decision

Summary

The U.S. Supreme Court has struck down President Donald Trump's signature tariff policy in a 6-3 ruling, determining that the statute used to justify his largest import duties does not actually authorize those tariffs. This represents a significant defeat for the president, whose economic and foreign policy strategies heavily relied on his claimed authority to unilaterally impose tariffs on any country without congressional approval.

President Trump is scheduled to address the ruling during a White House press briefing at 12:45 p.m. ET on Friday, according to his press secretary. The briefing was announced approximately two hours after the Supreme Court issued its decision.

Market Implications:

The ruling has seismic implications for U.S. trade policy and markets. The court's decision fundamentally restricts the president's ability to implement tariffs without explicit congressional authorization, potentially unwinding existing import duties that have affected global trade relationships and supply chains. This could lead to:

• Reduced trade tensions with countries previously targeted by tariffs
• Potential refunds for tariffs deemed illegal
• Greater uncertainty around future U.S. trade policy
• Possible benefits for import-dependent companies and sectors
• Congressional involvement becoming necessary for future tariff actions

The decision marks a constitutional check on executive power regarding trade policy and could significantly reshape how the administration approaches international commerce and foreign relations going forward. Markets will be closely watching Trump's response for indications of next steps and potential workarounds.