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GOBankingRates
Heather Altamirano

3 Ways Paying Back Trump’s Tariffs Could Impact Your Wallet

SplashNews.com / Shutterstock.com

President Donald Trump’s global tariffs are in limbo. The U.S. Court of Appeals for the Federal Circuit ruled that many of the tariffs are illegal because Trump overstepped his authority using the International Emergency Economic Powers Act (IEEPA), NPR reported.

The act was created in the ’70s to give the president power to respond and “regulate a variety of economic transactions” in the event of a national emergency, per Congress. While the decision was split seven to four, the court stated that Trump overreached.

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