Trump Tariffs Struck Down by US Supreme Court

The US Supreme Court struck down President Donald Trump’s global tariffs, dealing a blow to the centerpiece trade policy of his administration. In a 6-to-3 ruling against the measures, America’s highest court ruled Trump exceeded his authority by invoking federal emergency measures to justify the levies.

The president’s initial reaction was to label the decision a “disgrace,” according to CNN. He is to hold a press briefing shortly. The Supreme Court’s rulling followed the release of data showing the US economy underperforming expectations. Stocks surged and the dollar fell on the news. You can follow our live ticker of market reactions here.