Trump Suffers Major Legal Blow as Supreme Court Strikes Down Global Tariffs

The US Supreme Court has handed President Donald Trump his biggest legal defeat since returning to the White House, striking down his sweeping global tariffs in a move hailed as a major victory for the Constitution. The ruling, which undercuts Trump's signature economic policy, has been welcomed by experts and lawmakers who see it as a demonstration of the court's independence and willingness to stand up to the president.

"This is a tremendous day for the Constitution," said Henrietta Treyz, Managing Partner and Director of Economic Policy at Veda Partners, in an interview with Bloomberg. "The fact that the court is willing to stand up to the president and say that these tariffs are not lawful is striking," added Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion contributor.

The tariffs, which were imposed by Trump in 2018, were designed to protect American industries from foreign competition. However, they have been widely criticized for sparking a global trade war and causing economic harm to US companies and consumers. The Supreme Court's ruling is seen as a major blow to Trump's economic policy and a victory for free trade advocates.

Meanwhile, other international trade disputes continue to unfold. In Bolivia, the state steel company is feuding with the Chinese engineering firm that built its flagship plant. The company is seeking to deduct some of the $100 million in losses from repayments to its lender, the Export-Import Bank of China. The dispute highlights the risks and challenges associated with international trade and investment.

In another development, Mexican President Claudia Sheinbaum is applying renewed pressure on Peru to allow an ideological ally to exit the South American nation. The move comes after Peru inaugurated a new left-leaning leader, and highlights the complex web of international relations and alliances that shape global trade and politics.

The Supreme Court's ruling on Trump's tariffs is likely to have far-reaching implications for US trade policy and the global economy. As the international community continues to grapple with the challenges of trade and investment, the court's decision serves as a reminder of the importance of upholding the rule of law and protecting the Constitution.

As Treyz noted, "This is a tremendous day for the Constitution, and it's a reminder that the court is willing to stand up to the president and say that these tariffs are not lawful." The ruling is a significant blow to Trump's economic policy and a victory for free trade advocates, and it will be closely watched by economists, policymakers, and business leaders around the world.