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In a landmark 6-3 decision, the Supreme Court struck down sweeping tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The ruling, joined by Trump-appointed Justices Gorsuch and Barrett, found the President exceeded his constitutional authority. Within hours, the President signed an executive order invoking Section 122 of the Trade Act of 1974 – a provision never before used in its 52-year history – to impose new 10% global tariffs effective February 24, 2026. Key developments covered: The historic Supreme Court ruling and its constitutional implications President's extraordinary criticism of his own Supreme Court appointees How Section 122 works and its 150-day limitation The $175 billion refund question facing American businesses Exemptions for pharmaceuticals, vehicles, agricultural products, and critical minerals What this means for ongoing trade negotiations The constitutional battle over executive power #markcarney #trump #geopolitics #canadianpolitics #trumptariffs #canada #usmca