Some hoped the U.S. Supreme Court's ruling against President Trump's use of a supposed authority to order large and widespread tariffs would at least result in more economic certainty.
But Trump trampled those hopes in comments Friday afternoon, calling the 6-3 decision a "great disgrace" and vowing to use other authorities for tariffs.
Trump heaped praise on the three dissenting justices: Clarence Thomas, Samuel Alito and Brett Kavanaugh. He dismissed the liberal justices, saying they were "automatic nos." But he heaped the greatest scorn on justices he described as "our people" who voted with the majority, therefore defying him.
Shortly after the decision was announced, the Defense Credit Union Council said the ruling at least provided more clarity around trade policy.
"For credit unions, what matters most is economic stability and predictability," Jason Stverak, DCUC's chief advocacy officer, said.
"Trade policy can affect inflation, small business costs and household budgets, all of which influence borrowing capacity and loan performance," Stverak said. "Greater certainty helps families plan, businesses invest and credit unions continue providing affordable access to capital for the communities we serve, including service members and veterans."
America's Credit Unions declined to comment.
Cox Automotive told CU Times the decision will have limited impact on automobile prices because it does not apply to the main tariffs affecting production. The court said Trump did not have authority to order tariffs under the authority he claimed: The International Emergency Economic Powers Act of 1977.
Erin Keating, executive analyst at Cox Automotive, said Friday's Supreme Court decision might "over time reduce some tariff-driven inflationary pressure on the overall U.S. economy."
However, she said the major tariffs affecting autos are under Section 232 of the Trade Expansion Act of 1962, which was not addressed by the ruling.
"Section 232 is where the real impact sits, particularly around steel, aluminum and imported vehicles," Keating said.
"What the Supreme Court ruling does is remove a layer of policy volatility," she said. "That matters for planning and capital allocation. But unless there's movement on 232, the underlying cost structure for automakers and suppliers doesn't materially change with this decision.
"In fact, the SCOTUS decision, in the near term at least, only adds another layer of uncertainty in the business environment, a challenge the auto industry has been facing for more than a year now."
A Jan. 13 report from the Richmond, Va., Fed said the U.S. collected $287 billion in customs duties, taxes and fees in 2025, nearly triple (+192%) from 2024. "Roughly a third of that amount ($97.5 billion) was collected in the fourth quarter alone, which was an increase of 5.2% compared to the previous quarter and 281% compared to the fourth quarter of 2024."
The Richmond Fed said last year's annual effective tariff rate was 11.4%, "which is the highest mark since 1943."
Insofar as Trump was forcing tariffs payments outside the law, importers who paid them have already started lining up to file suit for refunds.
A Feb. 12 report from the New York Fed said tariff rates rose from 2.6% at the start of 2025 when Trump was inaugurated to 13% by November, the latest data available. The Fed researchers estimated nearly 90% of the tariffs' economic burden fell on U.S. firms and consumers. The rest included tariffs "paid" by foreign producers who reduced their prices to goose exports by lessening the cost of the tariffs.
Contact Jim DuPlessis at Jim.DuPlessis@arc-network.com.
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