Amazon, Shopify, Etsy rally after Court voids Trump tariffs, Trump vows new 10% levy
Online retailer stocks rallied after the Supreme Court voided Trump's broad tariffs, though Trump promised to impose a new 10% global tariff using alternative authority.Summary
Shares of major online retailers, including Amazon, Shopify, and Etsy, surged after the US Supreme Court, in a 6-3 ruling, struck down President Donald Trump's blanket tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The Court determined that IEEPA does not authorize such broad tariffs, citing the major questions doctrine, which requires clear congressional approval for actions with significant economic impact. This decision voids a 10% levy imposed in April 2025, potentially opening the door for refund claims on the $142 billion collected that year, and also affects the removal of the de minimis exemption. Despite the victory for retailers who noted tariff costs were affecting consumers, hours after the ruling, Donald Trump announced plans to pursue a new 10% global tariff using alternative legal authority, specifically the Trade Act of 1974.
(Source：Crypto Briefing)