Instant Reaction: Trump's Global Tariffs Struck Down By Supreme Court

<p>The US Supreme Court struck down President Donald Trump&rsquo;s sweeping global tariffs, undercutting his signature economic policy and delivering his biggest legal defeat since he returned to the White House.<br /><br />Voting 6-3, the court said Trump exceeded his authority by invoking a federal emergency-powers law to impose his &ldquo;reciprocal&rdquo; tariffs across the globe as well as targeted import taxes the administration says address fentanyl trafficking.<br /><br />The justices didn&rsquo;t address the extent to which importers are entitled to refunds, leaving it to a lower court to sort out those issues. If fully allowed, refunds could total as much as $170 billion - more than half the total revenue Trump&rsquo;s tariffs have brought in. <br /><br />For instant reaction and analysis, Bloomberg Intelligence co-hosts Paul Sweeney and Scarlet Fu, o speak with:<br /><br />- Bloomberg Washington correspondent Tyler Kendall<br />- Bloomberg Legal Analyst and host of Bloomberg Law June Grasso<br />- Henrietta Treyz, Managing Partner and Director of Economic Policy at Veda Partners<br />- Dave Townsend, Partner with Dorsey &amp; Whitney</p><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>