Supreme court rules 6-3 against trump on tariffs. The Court rules that the President lacks authority under IEEPA to impose tariffs. IEEPA does not grant the executive power to levy such tariffs. There is no automatic decision to refund tariffs but the Supreme Court says importers can pursue claims through the US Court of International Trade.
Supreme Court does not address eligibility for tariff refunds.
Traders now see FED waiting until July to cut rates.
US100 gains on this news; US dollar however ticks lower.
Daily Summary: Wall Street on the edge; SILVER drops 5% 🚨
The US100 is down nearly 2%; Microsoft freezes hiring in its cloud and sales divisions💡
Iran has allowed 10 oil tankers to pass through the Strait of Hormuz — an explanation of the enigmatic “gift” to Trump⚓
🚨 Trump warns Iran — Markets under pressure; oil prices rebound 💡