Tariffs

The Supreme Court struck down President Trump's signature tariffs. But the president has other tariff tools, and consumers shouldn't expect cheaper prices anytime soon, economists say.

Anyone who paid the taxes should get reimbursed, but the high court did not address how. Business owners wonder if they'll need lawyers, brokers, money — or luck.

President Trump previously said he would implement 10% global tariffs after the U.S. Supreme Court struck down his tariff policies.

The battle over the tariffs began on day one of the president's second term when he signed an executive order that let him impose a wide range of tariffs on virtually every U.S. trading partner.

President Trump claimed the justices opposing his position were acting because of partisanship, though three of those ruling against his tariffs were appointed by Republican presidents.

The deal slashes hundreds of reciprocal tariffs between the two countries.

The White House's trade policy has "opened the door to corruption," according to a letter from Ron Wyden and Chris Van Hollen.

The announcement is a reversal for Trump, who initially initially praised the agreement with China as something Canadian Prime Minister Mark Carney "should be doing."

In a post on social media, Trump said a 10% tariff will take effect on Feb. 1, and will climb to 25% on June 1 if a deal is not in place for the United States to purchase Greenland.

Fourteen companies in total have now reached what the administration calls most-favored-nation pricing deals.