New tariff coming! Donald Trump imposes 10% global tariff after US Supreme Court defeat

The Supreme Court struck down President Donald Trump's far-reaching global tariffs on Friday, handing him a stinging loss on an issue crucial to his economic agenda.

Furious about the defeat, Trump said he will impose a global 10 per cent tariff as an alternative while pressing his trade policies by other means. The new tariffs would come under a law that restricts them to 150 days.

He made that announcement after lashing out at the Supreme Court for striking down much of his sweeping tariff infrastructure as an illegal use of emergency power. Trump said he was "absolutely ashamed" of justices who voted to strike down his tariffs and called the ruling "deeply disappointing."

"Their decision is incorrect," he said. "But it doesn't matter because we have very powerful alternatives."

The US Supreme Court struck down President Donald Trump's far-reaching global tariffs on Friday, handing him a stinging loss on an issue crucial to his economic agenda.

The 6-3 decision centres on tariffs imposed under an emergency powers law, including the sweeping "reciprocal" tariffs he levied on nearly every other country. The high court ruled his use of an emergency powers law to set import duties without Congress was illegal.

It's the first major piece of Trump's broad agenda to come squarely before the nation's highest court, which he helped shape with the appointments of three conservative jurists in his first term.

The majority found that it's unconstitutional for the president to unilaterally set and change tariffs because taxation power clearly belongs to Congress. "The Framers did not vest any part of the taxing power in the Executive Branch," Chief Justice John Roberts wrote.

"The tariffs at issue here may or may not be wise policy. But as a matter of text, history, and precedent, they are clearly lawful," Kavanaugh wrote.

Trump called the majority decision "a disgrace" when he was notified during his morning meeting with several governors, according to someone with direct knowledge of the president's reaction who spoke on the condition of anonymity to discuss the private conversation.

Trump was meeting privately with nearly two dozen governors from both parties when the decision was released.

The court majority did not address whether companies could get refunded for the billions they have collectively paid in tariffs.

Many companies, including the big-box warehouse chain Costco, have already lined up in lower courts to demand refunds. Kavanaugh noted the process could be complicated.

"The Court says nothing today about whether, and if so how, the Government should go about returning the billions of dollars that it has collected from importers. But that process is likely to be a mess,' as was acknowledged at oral argument," he wrote.