US court rules many of Trump's global tariffs are illegal

UPDATE: The Supreme Court has finally made a ruling on the controversial tariffs, and it could mean big changes for US trade.

The ruling states that many of the tariffs enacted under the Trump administration violate global trade rules and national law. The Supreme Court decided that these tariffs cannot be justified under the authority of the Trade Act of 1930.

The decision was unanimous, indicating that the justices agreed this act exceeded presidential authority. However, the ruling did not address the broader question of whether presidents have the power to impose tariffs in the absence of specific legislation.

What's next?

The ruling means that tariffs will now be imposed on a wider range of goods from China, which could lead to price increases for consumers.

The impact on trade relations with China and other countries is still unclear. The decision highlights the ongoing struggle between Congress and the presidency when it comes to trade policy.