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The US Supreme Court overturned president Donald Trump’s so-called Liberation Day tariffs on Friday, striking down the sweeping duties that had cost businesses billions in fees and opening the door to a flood of potential petitions for refunds on levies already paid.
In a decision that had been anxiously awaited for months, the court ruled six to three that Trump did not have authority to levy tariffs using the International Emergency Economic Powers Act — a 1977 statute meant for…
