" " "The decision invalidates these emergency tariffs, which generated roughly $130B-$175B in revenue in 2025-2026 Key Details of the Ruling: -Legal Basis: The Court found IEEPA does not allow the president to bypass Congress for such broad, long-term trade duties. -Impact: The ruling targets broad "reciprocal" tariffs and specific duties, such as those related to fentanyl enforcement, but leaves other existing duties (like steel/aluminum) in place. -Administration Response: President Trump criticized the ruling as a "disgrace" but immediately moved to initiate new, similar tariffs under different authorities, specifically Section 122 of the Trade Act of 1974."

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