美国最高法院裁定特朗普关税违法，1750亿美元税收面临退款

Core Viewpoint - The U.S. Supreme Court ruled against former President Trump's tariff measures implemented under the International Emergency Economic Powers Act (IEEPA), stating that the law does not grant the president the authority to impose tariffs without congressional approval [2][4]. Group 1: Supreme Court Ruling - The Supreme Court voted 6-3, affirming that the IEEPA does not authorize the president to levy tariffs without Congress's consent [2]. - This ruling upholds a previous lower court decision that found Trump's tariffs exceeded his legal authority [2]. - The ruling affects a significant portion of the tariffs currently in place, including the "fentanyl tariffs" and the so-called "reciprocal tariffs" announced in April [2]. Group 2: Financial Implications - The ruling could lead to over $175 billion in tariff refunds, which represents more than half of the total tariff revenue projected by the Congressional Budget Office to be around $300 billion annually over the next decade [4][15]. - If the estimated $175 billion is refunded, it could reduce the average effective tariff rate from 13.6% to 6.5%, a decrease of more than 50% [15]. - The total estimated tariff revenue under IEEPA since its implementation in February 2025 is approximately $179 billion, with a daily average of $5 million [16]. Group 3: Market Reactions - Following the Supreme Court's decision, U.S. stock markets reached new highs, with the S&P 500 rising about 0.7%, the Dow Jones increasing by nearly 320 points, and the Nasdaq up by nearly 0.9% [5]. - The U.S. dollar index fell sharply, dropping over 0.3% to below 97.60, marking a new low for the day [6]. - U.S. Treasury prices also hit new lows, with the benchmark 10-year Treasury yield surpassing 4.10% [8]. Group 4: Political Reactions - Following the ruling, Trump described the decision as "shameful" and indicated he was considering alternative strategies to mitigate its impact [3]. - Democratic Senator Warren urged the government to issue refunds to the public, while Senate Democratic Leader Chuck Schumer stated that the ruling is a victory for American consumers, criticizing Trump's tariffs for increasing costs and economic instability [17].