CNBC Daily Open: Trump's reaction to Supreme Court tariff ruling seems to cause more uncertainty

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Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today

The U.S. Supreme Court on Friday struck down much of President Donald Trump’s “reciprocal” tariffs, which were invoked based on the International Emergency Economic Powers Act.

But the White House leader didn’t take the decision lying down. Hours later, Trump announced on Truth Social that he’d be leveraging a new act, Section 122, to impose 10% tariffs globally — and, one day later hiked them to 15%. For critics of tariffs, it looks like the situation has moved one step forward, two steps back.

Indeed, U.S. importers are still paying the now-illegal “reciprocal” tariffs on goods, reported CNBC’s Lori Ann LaRocco, because the U.S. Customs and Border Protection hasn’t updated its system to remove duty charges. And refunding importers the estimated $175 billion collected from tariffs is going to be a “mess,” as Supreme Court Justice Brett Kavanaugh put it in his dissent.