SCOTUS blocks Trump tariffs under IEEPA

[jon-nyc]

It turns out, according to the Supreme Court, that the president does NOT have the authority to raise tariffs on other countries because he didn't like a television commercial, or because he didn't like the tone of a foreign leader.

[kluurs]

Will no one relieve me of this troublesome priest court?

[Doctor Phibes]

Apparently three justices thought it was perfectly ok. Those guys are so smart, not like the other losers.

[89th]

@kluurs said in SCOTUS blocks Trump tariffs under IEEPA:

Will no one relieve me of this troublesome priest court?

In time my friend. 2028 will be refreshing, and even if the air smells like a Hillbilly Elegy smoking a Cuban cigar, or a California Wildfire eating a nice Jewish bagel from Philly, it'll be refreshing from the sight and sound of a petulant bully from new york standing behind daddy's money and wrecking the family car while licking his cheetos-dust-covered fingers.

[Renauda]

A step in the right direction. Nevertheless the so-called “fentanyl tariffs” on Canadian steel, aluminum, copper and the auto sector are unaffected by this SCOTUS ruling and will remain enforced.

In response, elbows here will continue to remain up.

[Horace]

Good news. I'll read the opinions for giggles. Or maybe feed them to an AI for a summary.

[Horace]

Issue	Majority	Dissent
Is tariff power core legislative authority?	Yes — requires clear delegation	Congress can broadly delegate in emergencies
Does “regulate importation” include tariffs?	No	Yes
Should Major Questions Doctrine apply?	Yes	No (or much less forcefully)
Does historical practice support the President?	No — unprecedented	Yes — consistent with broad emergency powers
Who is guarding separation of powers?	Court is protecting Congress	Court is constraining executive flexibility

[jon-nyc]

The three liberal justices did not sign on to the part discussing major questions doctrine, but nor did they specifically reject it. They just said it could be decided on statutory interpretation alone.

[LuFins Dad]

Initial market response is not great.

[Horace]

@LuFins-Dad said in SCOTUS blocks Trump tariffs under IEEPA:

Initial market response is not great.

Maybe wary of what Trump will do in his frustration.

Market reaction isn't really negative though. Especially when today's GDP numbers were garbage. Market is up.

[jon-nyc]

Keep waiting for Trump to post about this. I need to drink some sweet maga tears this morning.

[kluurs]

Is DJT going to give back the $175 billion collected? I guess we owe China a lot of money.

[LuFins Dad]

@Horace said in SCOTUS blocks Trump tariffs under IEEPA:

@LuFins-Dad said in SCOTUS blocks Trump tariffs under IEEPA:

Initial market response is not great.

Maybe wary of what Trump will do in his frustration.

Market reaction isn't really negative though. Especially when today's GDP numbers were garbage. Market is up.

There was an initial drop when the decision came out. It rebounded about 40 minutes later.

[Doctor Phibes]

He's just announced a global 10% tariff on everybody.

[Horace]

@Doctor-Phibes said in SCOTUS blocks Trump tariffs under IEEPA:

He's just announced a global 10% tariff on everybody.

Yeah. Oddly the market didn't react.

[xenon]

That tariff has a built in 150 day limit.

[Mik]

https://www.msn.com/en-us/money/markets/what-supreme-court-ruling-against-trump-tariffs-means-for-your-money/ar-AA1WKHtY

Includes the tariffs on French wine. Happy day.

[LuFins Dad]

Anybody need a German piano?