US Supreme Court Limits Presidential Trade Powers; Trump Slams Ruling

The US Supreme Court has issued a landmark ruling against the legality of tariffs previously imposed by the Trump administration, marking a significant shift in US trade policy. The court determined that the president lacks the executive power to declare an economic emergency as a basis for launching sweeping new import taxes. Donald Trump sharply criticized the decision, labeling the justices as 'disloyal to our Constitution' in a public rebuke. This ruling strictly defines the limits of executive authority regarding national security-based trade barriers, potentially reshaping international trade relations. While the decision is expected to lower costs for US importers and consumers, it introduces a significant layer of policy uncertainty. Investors are closely monitoring major indices like the SPY and DJI, along with currency pairs such as CNY/USD and EUR/USD, for potential market volatility following this legal shift.