U.S. importers will be facing many hurdles trying to recover billions in tariff costs now that the Supreme Court has ruled President Donald Trump‘s International Emergency Economic Powers Act, or IEEPA, tariffs are illegal. Companies large and small may be eligible for refund payments that in total could reach hundreds of billions of dollars, but…
U.S. President Donald Trump speaks during a press briefing held at the White House February 20, 2026 in Washington, DC. Kevin Dietsch | Getty Images News | Getty Images President Donald Trump on Saturday said he would increase global tariffs to 15% from 10%, one day after the Supreme Court struck down his “reciprocal” tariffs….
Senate Minority Leader Chuck Schumer (D-NY) speaks at a press conference with other members of Senate Democratic leadership following a policy luncheon at the U.S. Capitol in Washington, DC on January 28, 2026. Nathan Posner | Anadolu | Getty Images Congressional Democrats rejoiced on Friday and Republicans remained divided in the wake of a momentous…
World leaders during the G7 Leaders’ Summit in Kananaskis, in Alberta, Canada, June 17, 2025. Amber Bracken |Reuters U.S. trading partners offered a cautious welcome to the U.S. Supreme Court’s decision Friday to strike down large parts of President Donald Trump’s flagship trade policy on global tariffs — but global trade bodies warned of lingering…
President Donald Trump said Friday he will sign an executive order imposing a new 10% “global tariff,” hours after the Supreme Court struck down his sweeping “reciprocal” import duties in a major rebuke of his trade agenda. The new tariffs will come on top of the existing levies that remain intact following the high court’s…
The Supreme Court during a rain storm in Washington, Feb. 20, 2026. Annabelle Gordon | Bloomberg | Getty Images The Supreme Court on Friday ruled that President Donald Trump’s country-specific “reciprocal” tariffs are unconstitutional, delivering a win for many consumer companies facing higher import costs. But the ruling doesn’t cover all sectors. The Supreme Court…
The retail industry on Friday said the Supreme Court’s ruling that struck down some of President Donald Trump’s global tariffs would usher in more predictability and flexibility for innovation, freeing up businesses from the burden of higher import costs. “The Supreme Court’s announcement today regarding tariffs provides much-needed certainty for U.S. businesses and manufacturers, enabling…
The Port of Los Angeles is seen from the Goodyear Blimp on Thursday, Dec. 11, 2025 in Los Angeles, CA. Juliana Yamada | Los Angeles Times | Getty Images New data from the Port of Los Angeles shows that commitments made by China to buy more U.S. agricultural products as part of a trade bargain…
Cranes unload shipping containers from a ship at the Port of Long Beach Wednesday, Jan. 14, 2026. Allen J. Schaben | Los Angeles Times | Getty Images A record-breaking number of companies shipping products into the United States are coming up short on a federal government requirement to financially guarantee they can cover the import…
HUZHOU, CHINA – JANUARY 27: An employee works on the beverage production line to meet the Spring Festival market demand at Leyuan Health Technology (Huzhou) Co., Ltd. on January 27, 2026 in Huzhou, Zhejiang Province of China. Wang Shucheng | Visual China Group | Getty Images A year after U.S. President Donald Trump’s tariffs spooked…
