00:00A federal judge in New York ruled that companies that paid tariffs imposed by the Trump administration
00:05are entitled to refunds after the Supreme Court struck the taxes down as unconstitutional.
00:11The justices found the sweeping tariffs, imposed under a 1977 emergency powers law, exceeded
00:18presidential authority because the Constitution gives Congress control over taxation.
00:23The federal government collected more than $130 billion from the tariffs and could ultimately
00:28owe up to $175 billion in refunds, as officials are expected to appeal.
00:34Meanwhile, states led by New York sued the Trump White House to block new tariffs, arguing the
00:40commander-in-chief does not have the authority to impose import taxes after the Supreme Court
00:45ruled his earlier tariffs were illegal.
00:47The lawsuit asks a federal trade court to declare the tariffs unlawful and to stop the government
00:53from enforcing them.
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