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The Supreme Court on Friday struck down President Trump's tariffs. But the justices left a $133 billion question unanswered: What's going to happen to the money the government has already collected?
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What's far less certain is the longer-reaching impacts as the economy and markets again adjust to a changing landscape.
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The battle over the tariffs began on day one of the president's second term when he signed an executive order that let him impose a wide range of tariffs on virtually every U.S. trading partner.
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The nation's highest court struck down some of U.S. President Donald Trump's most sweeping tariffs on Friday, in a 6-3 decision that he overstepped his authority when using an emergency powers law to justify new taxes on goods from nearly every country in the world.
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Trump slams justices after Supreme Court strikes down most of his tariffs The Washington PostA defiant Trump vows new tariffs while fuming at Supreme Court CNN‘Murky Waters' for Global Businesses After Trump's Tariff Loss The New York TimesTrump's New Trade Agenda Is on a Collision Course With Midterms The Wall Street JournalTrump news at a glance: president lobs insults at US supreme court for striking down his global tariffs
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The ruling deals a major blow to his signature economic policy and represents a stinging political setback.
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President Trump was the first to invoke the International Emergency Economic Powers Act of 1977 to set tariffs on imported goods from more than 100 countries.
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