Supreme Court Overturns Trump's Tariffs; President Announces New Measures

In a 6-3 decision, the U.S. Supreme Court ruled that President Donald Trump's use of the International Emergency Economic Powers Act (IEEPA) to impose global tariffs was unconstitutional, affirming that only Congress holds the authority to levy taxes.

In response, President Trump criticized the justices who ruled against him and announced plans to implement a new 10% global tariff under Section 122 of the Trade Act of 1974, which allows for temporary tariffs to address balance-of-payments issues.

Additionally, the inaugural meeting of the Board of Peace was held, with 50 nations in attendance to discuss the reconstruction of Gaza and efforts to maintain lasting peace.

In other developments, the Department of War transported a Small Modular Nuclear Reactor (SMR) to a U.S. military installation, where it will be assembled over the next 10-12 weeks by Valar Atomics. Once operational, the reactor is expected to generate enough power for 5,000 homes.

President Trump also addressed workers at Coosa Steel Corporation in Georgia, highlighting the company's resurgence following the administration's tariffs on steel imports. The company now has a seven-month order backlog and is expanding its workforce.