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'Financial ruin' for US? What happens if Trump tariffs are struck down by court — Explained

IndiaTimes Saturday, 30 August 2025 ()
A US federal court has dealt President Trump a blow, ruling his sweeping tariffs illegal, stating he exceeded his authority by declaring trade deficits as national emergencies. While the tariffs remain during appeal to the Supreme Court, businesses face continued uncertainty. A potential $159 billion refund looms if the ruling stands, weakening Trump's negotiating power.
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News video: US BREAKING: US Court STRIKES DOWN Trump’s Global Tariffs  Biggest Legal Setback For Trump’s Tariffs

US BREAKING: US Court STRIKES DOWN Trump’s Global Tariffs Biggest Legal Setback For Trump’s Tariffs 03:12

A U.S. appeals court has ruled that many of President Trump’s global tariffs were imposed illegally, dealing a major setback to his trade agenda. The 7-4 ruling found Trump overstepped his authority by using emergency powers to levy duties, though tariffs remain in place until October pending...

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