🇺🇸 Supreme Court Strikes Down Trump Tariffs - Illinois Demands $8.6B Refund

in #tariffs • 3 days ago

🇺🇸 Supreme Court Strikes Down Trump Tariffs - Illinois Demands $8.6B Refund

The U.S. Supreme Court ruled 6-3 that Trump's global tariffs were unconstitutional. Only Congress can impose taxes, not the President using emergency powers.

Illinois responds:
Governor Pritzker sent Trump a formal invoice demanding $1,700 refund for each of the state's 5.1 million households.
Total: $8.68 billion marked "PAST DUE"

Key facts:
→ Treasury collected $133B+ from these tariffs
→ Trump announced new 10% global tariff as workaround
→ Refund battles could take years in court

Why it matters:
Billions in potential refunds at stake. Major uncertainty ahead for trade policy and markets.

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#trump
3 days ago in #tariffs by
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