The US Supreme Court just struck down the sweeping tariffs Trump imposed on a variety on nations under the Emergency Economic Powers Act of 1977. Barrett, Gorsuch, and Roberts joined Jackson, Kagan, and Sotomayor in the 6-3 ruling.

The Court ruled that Congress, not the President, has the power to impose broad tariffs on any imports from specific nations, and the Economic Powers Act does not confer this power on the President by a simple declaration. This does not affect industry-specific tariffs imposed under the Section 232 of the Trade Expansion Act of 1962.

Looks like SCOTUS isn’t the rubber stamp some of us thought they were, though given the effect on the stock market they may be protecting their portfolios in this case. Looking forward to reading the opinions, especially the dissent joined by Alito (who may be about to retire), Kavanaugh, and Thomas.