Shortly after Trump’s “Liberation Day” tariffs were announced, the court blocked them, along with the ones imposed when he stepped into office. However, after a subsequent appeal, the tariffs are back in effect, at least until June 9.
According to the court, the Emergency Economic Powers Act doesn’t grant the president power to control trade. That’s Congress territory. But after the ruling today, the tariffs are reinstated until June 9, when both parties are supposed to file their arguments regarding the case, and only then will the court give a permanent ruling.
Apple is one of the companies that will take a huge hit, as it has invested heavily in its international supply chain over the years. Reportedly, Apple will potentially lose $900 million in Q2 2025. A lot of uncertainty lies ahead for Apple, and we might see a significant surge in iPhone 17 prices this year.
