China Responds to US Tariffs Overturn

Beijing on Monday warned there are “no winners in a trade war” after the U.S. Supreme Court ruled against a raft of tariffs imposed by President Donald Trump last year, dealing a blow to what has become a cornerstone of his foreign policy. Why It Matters In a rare move, two Trump-appointed justices joined the 6-3 decision to strike down the sweeping tariffs imposed by the president under the International Emergency Economic Powers Act (IEEPA). Trade duties are typically the domain of Congress, the only branch with constitutional authorization to levy taxes. The 1979 act grants the president limited authority…