Story perspectives

Supreme Court Blocks Trump Tariff, Families Lose $1,300

5/6/2026

Summary

Story summary

Supreme Court ruled that U.S. President Donald Trump exceeded his authority under the International Emergency Economic Powers Act, prompting a 10% tariff.
A January study found American households bear all tariff costs, with the average family paying $1,300 more this year.
Moody’s chief economist Mark Zandi reported that tariffs halted growth at 9,700 jobs per month and that the deflator rose 3% year-over-year, above the Federal Reserve (Fed)’s 2% target.

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Story summary

Supreme Court ruled that U.S. President Donald Trump exceeded his authority under the International Emergency Economic Powers Act, prompting a 10% tariff.
A January study found American households bear all tariff costs, with the average family paying $1,300 more this year.
Moody’s chief economist Mark Zandi reported that tariffs halted growth at 9,700 jobs per month and that the deflator rose 3% year-over-year, above the Federal Reserve (Fed)’s 2% target.