Trump Imposes New 10% Global Tariff After SCOTUS Orders $200B Refund

President Trump has announced a new 10% global tariff under Section 122 following a landmark ruling by the US Supreme Court. The court struck down previous global tariffs, potentially forcing the federal government to refund up to $200 billion to major corporations. According to JPMorgan, while the massive refund could inject significant liquidity into the corporate sector, the new tariffs pose a fresh inflationary threat. Major US corporations have already begun seeking refunds after the court deemed the prior trade penalties legally invalid. This rapid policy shift escalates global trade tensions and is expected to bolster the USD as a safe-haven asset amid market uncertainty. Investors are closely monitoring the impact on the SPY and emerging markets EEM as the administration reaffirms its protectionist trade stance.