Supreme Court Ruling Boosts Online Retailer Stocks
Following the US Supreme Court’s decision to overturn President Donald Trump’s broad import tariffs, major online retailers saw a surge in their stock prices on Friday.
Amazon experienced a more than 2% increase, while Etsy and Shopify saw significant jumps, with Etsy rising nearly 10% and Shopify climbing over 2%. Other retailers such as eBay, Wayfair, and Pinduoduo also saw positive movement.
In a decisive 6 to 3 ruling, the Court stated that the International Emergency Economic Powers Act (IEEPA) does not grant the president the authority to impose tariffs. Chief Justice John Roberts emphasized the importance of clear congressional approval for actions with substantial economic impact.
This ruling nullified a 10% tariff imposed in April 2025 on imports from various trading partners, with approximately $142 billion collected under this framework. It is anticipated that refund claims may arise as a result.
Additionally, the Court’s decision impacted Trump’s elimination of the de minimis exemption, which permitted low-value goods to enter the country duty-free and was commonly utilized by sellers on platforms like Etsy and Temu.
Retail industry representatives welcomed the ruling, stating that it would bring stability to supply chains. Amazon CEO Andy Jassy previously highlighted the potential impact of tariff costs on consumer prices.
In response to the Court’s decision, Donald Trump announced plans to explore alternative legal avenues to enforce a 10% global tariff. During a press conference, Trump mentioned the administration’s intent to utilize the Trade Act of 1974, allowing temporary import restrictions for up to 150 days. He also indicated a willingness to explore other options to replace the tariffs invalidated by the Court.
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