"Without tariffs,” the President
said on his affordability tour in Georgia, “everybody would be bankrupt, the whole country would be bankrupt.” In court, the Trump administration has made similar sweeping claims,
arguing that revoking certain tariff authorities would have “catastrophic consequences” and “lead to financial ruin.”
The Supreme Court has now struck down the administration’s “reciprocal tariffs” imposed under the International Emergency Economic Powers Act (IEEPA). This is a
major victory for American consumers and businesses who suffered from higher taxes and higher prices that the tariffs imposed.
