US Supreme Court strikes down Trump tariffs 

The US Supreme Court has voted against US President Donald Trump’s global reciprocal tariffs, ruling them unlawful. In April of the past year, President Trump levied global tariffs ranging from 10 per cent to 50 per cent. The dramatic change in trading policy sparked worldwide concern in the jewellery industry, including the diamond trade in India, the opal trade in Australia, and the broader luxury goods industry in Europe.

In a 6-3 vote, the US Supreme Court ruled that the tariffs exceeded the president’s authority. The six justices who voted against the tariffs were John Roberts, Neil Gorsuch, Amy Coney Barrett, Elena Kagan, Sonia Sotomayor, and Ketanji Brown Jackson.

“[We have] concluded that IEEPA (International Emergency Economic Powers Act) did not grant the president the power to impose tariffs,” the ruling explained