Businesses celebrate win at Supreme Court over Trump on tariffs [USA TODAY]
KAWASAKI HEAVY INDS S/ADR (KWHIY)
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Source: USA TODAY
Supreme Court ruled to overturn the White House's emergency tariffs, but the process of getting refunds has only just begun. In a decision that could ripple throughout the global economy for years, the court ruled that U.S. President Donald Trump was not allowed to use the 1977 International Emergency Economic Powers Act to levy broad tariffs on imports. The corporate world has spent months adjusting to Trump's often-evolving trade policy and his central use of tariffs for his agenda, not just to address trade issues but also as a cudgel against other governments' policies and actions. They're likely to face further challenges, as Trump, in a furious press conference following the ruling, vowed to use additional powers to impose more tariffs, including a temporary 10% levy on all imports. On Saturday, Feb. 21, Trump upped the number to 15%. Regardless, many businesses and industry associations reacted with guarded hopes for more predictable trade policy. Thousands of companies
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