Trump Imposes New Tariffs After Supreme Court Ruling

President Donald Trump swiftly imposed new 15% levies on imports after the Supreme Court of the United States struck down previous tariffs in a 6-3 decision. The move comes amid new data from the Federal Reserve System showing that previous tariff policies caused significant financial strain for U.S. firms, contrary to administration claims that foreign countries bear the costs.

A Federal Reserve survey of over 6,500 small businesses found that 42% of firms identified tariffs as a primary financial challenge in 2025. The retail and manufacturing sectors were most affected, with 69% and 62% of those businesses reporting strain. The report indicates that 76% of companies experiencing higher input costs passed those increases to consumers.

Domestic production levels remained largely stagnant, as only 3% of firms reported bringing production back to the U.S. and 13% switched to domestic suppliers. Analysts from Goldman Sachs Private Wealth Management estimate the new levies will add 0.1% to core inflation in 2026 and suggest that companies are unlikely to lower consumer prices quickly despite the court's intervention.