US Supreme Court Strikes Down Presidential Tariffs, Benefiting China, India, and Brazil

• •The US Supreme Court ruled that President Trump's use of the International Emergency Economic Powers Act to impose tariffs was illegal.
• •Bloomberg reported a swift reversal of fortunes, with the hardest-hit countries now emerging as the biggest winners from the ruling.
• •China, India, and Brazil are among the nations now seeing significantly lower tariff rates, according to Business Standard.
• •The ruling curtails presidential authority to use emergency powers as a mechanism for imposing broad trade duties.
• •The decision is expected to reshape trade dynamics between the United States and multiple major economies worldwide.

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