Even before the U.S. Supreme Court ruled against President Donald Trump’s tariffs, hundreds of corporations from around the world were filing lawsuits against the U.S. demanding reimbursement for losses brought on by tariffs.
On Friday morning, the court ruled the president did not have the right to use the International Emergency Economic Powers Act to impose tariffs without Congressional approval.
“The Framers did not vest any part of the taxing power in the Executive Branch,” wrote Chief Justice John Roberts.
The Supreme Court’s decision is expected to add weight to the lawsuits that have already been filed and others expected in the future, according to economists.
Companies, customs brokers and importers have filed suits with the United States Court of International Trade demanding more than $150 billion in compensation.
This court, based in New York City, has nationwide jurisdiction in cases regarding imports, tariffs, and trade.
Major corporations such as Goodyear Tire & Rubber Company, GoPro, Costco Wholesale, Bumble Bee foods, Revlon, Alcoa, Kawasaki Motors Manufacturing Corp USA, Prada, Yokohama Tire and many others have sought legal action against the U.S. since last year.
Plaintiffs maintain Trump sidestepped laws to set taxes without congressional approval.
The president implemented tariffs back in April to manipulate trade in favor of American companies.
He also instituted tariffs against Canada and Mexico as a way to cut down on illegal immigration and drugs.
