US Supreme Court Rules Trump's Reciprocal Tariffs Illegal

The U.S. Supreme Court ruled on February 20 (local time) that President Donald Trump's reciprocal tariffs were illegal. The decision invalidates the tariffs announced on April 2 last year, which Trump had declared as "America's Independence Day." The ruling means the Trump administration must refund approximately $135.5 billion (about 196 trillion won) in collected tariffs. The Court's decision was based on the International Emergency Economic Powers Act (IEEPA) of 1977, which does not explicitly grant the President authority to impose tariffs. Lower courts had previously ruled that Congress did not intend to give unlimited tariff authority to the President. However, the administration has prepared alternative legal pathways (Section 232 of the Trade Expansion Act, Sections 301 and 122 of the Trade Act) to maintain similar tariff levels, making actual tariff elimination unlikely.