GOOD QUESTION: What does the Supreme Court ruling on tariffs mean for me?

SINCE THE SUPREME COURT STRUCK DOWN DONALD Trump’s emergency tariffs, questions have mounted around what the ruling means for consumers and businesses that already paid the price of the trade policy.

- BY MIRANDA JEYARETNAM

Preparing to unload vehicles at a Chinese port in February

On Feb. 20, the court ruled 6-3 that Trump could not use the 1977 International Emergency Economic Powers Act (IEEPA) to impose import duties by declaring a national emergency. That effectively rolled back the sweeping "Liberation Day" tariffs that Trump imposed last April, as well as levies on China, Mexico, and Canada that he tied to the flow of fentanyl into the U.S.

The ruling does not reverse all tariffs. Any tariffs imposed under Section 232 of the 1962 Trade Expansion Act, including on steel and aluminum, remain in place. Those are based on Commerce Department investigations into whether certain imports threaten U.S. national security.

Meanwhile, Trump, whose Administration has argued that tariffs have generated important revenue for the U.S. government and given it leverage to secure more favorable trade terms and investment pledges from other countries, invoked Section 122 of the 1974 Trade Act to impose a 10% tariff on all countries "over and above our normal tariffs already being charged," which he later raised to the maximum 15%, valid only up to 150 days. These tariffs could still face legal challenges.