Supreme Court limits Trump tariffs, but CFOs still face a volatile trade landscape

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Good morning. The Supreme Court’s ruling on President Trump’s tariff authority did more than redraw the boundaries of executive power. It also potentially shifted the operating environment for finance chiefs and manufacturers managing sustained trade-policy volatility.

In a 6–3 decision on Friday, the justices ruled that Trump overstepped by using the International Emergency Economic Powers Act to levy tariffs throughout much of 2025, striking down portions of the duties on steel, aluminum, and some Chinese imports. Large firms have been affected by tariffs, but small and midsize businesses have felt the impact disproportionately.