US Supreme Court strikes down Trump tariffs, limits presidential trade power

US Supreme Court rejects Trump's tariffs, 6-3 ruling limits presidential trade authority. Court finds Trump exceeded legal authority under 1977 statute, affirming lower court's decision. Decision nullifies Trump's April 2 tariffs targeting most US trading partners. Ruling reinforces 'major questions doctrine' requiring clear congressional authorization for sweeping economic actions. Implications: Global trade stability may improve, potential for reduced import costs, but uncertainty remains for US trade policy direction. Nigerian businesses should monitor global supply chain impacts and potential shifts in US trade relationships.

SOURCE: https://dailypost.ng/2026/02/20/major-defeat-for-trump-as-us-supreme-court-rejects-tariffs/