US To Stop Collecting Tariffs From Tuesday Following Supreme Court Order

In a significant development, the US Customs and Border Protection agency announced that it will cease the collection of tariffs imposed under the International Emergency Economic Powers Act, effective from 12:01 AM EST on Tuesday. This decision follows a recent ruling by the US Supreme Court, which declared these tariffs illegal, thereby impacting various trade practices and economic policies. The Supreme Court's ruling has raised questions about the legality of such tariffs, which were originally enacted as a means of responding to national emergencies. The halt in tariff collections could have far-reaching implications for both domestic and international trade, potentially easing the financial burden on importers and consumers. Analysts suggest that this move may lead to a reassessment of trade policies and economic strategies in light of the Court's decision. As the situation develops, businesses and trade stakeholders are closely monitoring the changes to understand the broader impact on the economy and international relations.