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The Weekly Look at the Global Economy and Markets
The highly anticipated US Supreme Court tariff decision on Friday was just one highlight in a week packed with interesting data and policy signals. In a 6-3 decision, the Supreme Court ruled that the Trump Administration exceeded its authority by imposing tariffs under the International Emergency Economic Powers Act (IEEPA), invalidating an estimated $130–$160 billion in tariff revenues. While the Court refrained from detailing how refunds should be processed—preferring to leave that to lower courts—President Trump was quick to respond. He predicted the refund issue “will end up in court for the next five ... (full story)