Dan Schwartzman

blockade has already seized at least nine ships involved in the illicit transport of sanctioned oil.

Dan Schwartzman, Bloomberg Radio.

News when you want it with Bloomberg News Now.

I'm Dan Schwartzman.

Wall Street reacting to the Supreme Court ruling striking down President Trump's tariffs.

As the Dow gained a half percent, the S&P 500 ended the session up seven tenths of a percent, with an asset gain nine tenths of one percent.

The 10-year Treasury yield is at 4.084, the two years at 3.481.

Gold is trading close to $5,100 an ounce, while Bitcoin is above $67,600.

President Trump announcing new tariffs after the Supreme Court struck down his sweeping global tariffs.

That's President Trump.

In a 6-3 ruling, the court said Trump exceeded his authority by invoking a federal emergency powers law

To impose his, quote, reciprocal tariffs across the globe, as well as targeted import taxes, the administration says address fentanyl trafficking.

Trump has some choice words for the justices who voted against the tariffs.

The court, though, did not address the extent to which importers are entitled to refunds, leaving it to a lower court to sort out those issues.

If fully allowed, refunds could total as much as $170 billion, which is more than half the total revenue Trump's tariffs have brought in.

Treasury Secretary Scott Besson also weighed in on potentially having to refund the collected tariffs.

That's Treasury Secretary Scott Besson speaking at the Economic Club of Dallas.

European Union lawmakers are holding an emergency meeting to reassess the bloc's trade deal with the U.S.

The European Parliament's Trade Committee had been expected to vote to move forward with the ratification process of the agreement, but the court's ruling is cast out on the timeline and the entire accord.

The trade pact would have erased tariffs on most American goods and set a 15 percent tariff on EU products.