Hi again, everyone. It's five o'clock in New York. We're back with special breaking coverage at the Supreme Court's rare and stinging rebuke of Donald J. Trump.

As the Supreme Court strikes down Trump's use of emergency powers to impose his sweeping tariff regime, they're telling him in no uncertain terms that only Congress, not the president, has the power to impose his sweeping tariff regime. They are telling him in no uncertain terms that only Congress,

not the president, has the power to impose taxes on the American people. The ruling was a six-three

decision with the chief, Chief Justice John Roberts, and justices Neil Gorsuch and Amy Coney-Barritt,

joining all three liberal justices. In the decision written by Chief Justice Roberts,

the court states this, quote, the framers did not vest any part of the taxing power in the executive

branch. The president asserts the extraordinary power to unilaterally impose tariffs of

unlimited amount, duration, and scope. We claim no special competence in matters of economics or foreign affairs.

We claim only, as we must, the limited role assigned to us by Article III of the Constitution.

Fulfilling that role, we hold that the International Emergency Economic Powers Act does not

authorize the president to impose tariffs. Donald Trump reacted

to the news badly in a mercurial rambling press conference. If he was anyone else in entertainment

or sports, people would be worried about him this afternoon. He said he would be imposing a 10%

global tariff instead and in response to losing from the Supreme Court.

He claimed out of nowhere that the United States Supreme Court is controlled by foreign interests.

Donald Trump also falsely claimed that he can do anything he wants with IEPA saying,

quote, I can destroy the trade. I can destroy the country. I'm even allowed to

impose a foreign country destroying embargo. I can embargo. I can do anything I want. So I'm allowed

to destroy the country, but I can't charge them a little fee. President of the United States said that

today.

As Donald Trump noted in those remarks, the tariffs he imposed using other authorities are still in effect, and the Budget Lab at Yale finds that consumers will still face an

eye-popping average effective tariff rate of 9.1%, which remains the highest since 1946,

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