Trump Tariffs Struck Down By Supreme Court In A 6-3 Decision, President Calls It A ‘Disgrace’: Report

• According to a Reuters report citing an estimate from Penn-Wharton Budget Model, importers could be entitled to refunds to the tune of $175 billion.
• According to a CNN report citing sources familiar with the matter, President Trump called the Supreme Court’s tariff ruling a “disgrace.”
• He also said that he has a backup plan in mind, according to the report.

The U.S. Supreme Court on Friday struck down President Donald Trump’s tariffs in a 6-3 decision.

The court said that President Trump exceeded his authority by invoking an emergency-powers law. However, the court did not specify to what extent importers were entitled to refunds.

According to a Reuters report citing an estimate from Penn-Wharton Budget Model, importers could be entitled to refunds to the tune of $175 billion.

President Trump Calls Ruling A ‘Disgrace’

According to a CNN report citing sources familiar with the matter, President Trump called the Supreme Court’s tariff ruling a “disgrace.”

He also said that he has a backup plan in mind, according to the report.

US Not At War With Every Country, Says SCOTUS

The court noted that the United States is not at war with every country in the world, and added that the U.S. government has not defended the application of tariffs as an exercise of the President’s war-making powers.

“The Government thus concedes, as it must, that the President enjoys no inherent authority to impose tariffs during peacetime,” the court stated.

The ruling also observed that when Congress has delegated its tariff powers, it has done so in explicit terms and subject to strict limits.

“It is also telling that in IEEPA’s ‘half century of existence,’ no President has invoked the statute to impose any tariffs—let alone tariffs of this magnitude and scope,” the court added, referring to the International Emergency Economic Powers Act.

Last month, President Trump stated that the U.S. will soon receive more than $600 billion in tariffs. He called the upcoming Supreme Court’s tariff decision “one of the most important ever” in the apex court’s history. In December 2025, the President warned that an adverse ruling in the tariffs case could leave the U.S. “financially defenseless.”

Meanwhile, U.S. equities gained in Friday’s opening trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up by 0.41%, the Invesco QQQ Trust ETF (QQQ) rose 0.73%, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) declined 0.12%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘neutral’ territory.

The iShares 20+ Year Treasury Bond ETF (TLT) was down by 0.31% at the time of writing, while the iShares 7-10 Year Treasury Bond ETF (IEF) fell 0.06%.

Also See: US GDP Grows At 1.4% In Q4, Economy Expands At A Slower Clip Than Wall Street Estimates

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