“Trump says ‘other alternatives will now be used to replace’ his sweeping tariffs that the Supreme Court rejected,” the Associated Press reports. “‘We have alternatives. Great alternatives,’ Trump said.”

Wall Street Journal: “President Trump said he would sign an order on Friday to impose a 10% global tariff under a different authority, ‘over and above our normal tariffs already being charged.’ Trump said all national security tariffs under Section 232 and existing Section 301 tariffs would remain in place.”

“President Trump had just started a closed-door White House meeting with governors when one of his trade advisers handed him a piece of paper,” the Wall Street Journal reports.

“’So it’s a loss, then?’ Trump asked the adviser, according to people in the room. The adviser confirmed that the Supreme Court had just ruled that his global tariffs were illegal, a momentous decision that undercut the centerpiece of the president’s economic agenda.”

“Trump told the governors sitting before him in the State Dining Room that he looked calm but that he was seething inside. He called the ruling a disgrace, the people said. Soon after learning of the court’s decision, Trump cut short a question-and-answer session with governors and left the room. He said he needed to work on his response to the ruling.”

“The Supreme Court ruled that President Trump exceeded his authority when he imposed sweeping tariffs on imports from nearly every U.S. trading partner, a major setback for his administration’s second-term agenda,” the New York Times reports.

“The court’s 6-3 decision has significant implications for the U.S. economy, consumers and the president’s trade policy. The Trump administration had said that a loss at the Supreme Court could force the government to unwind trade deals with other countries and potentially pay hefty refunds to importers.”

Washington Post: “Decision marks notable shift in high court’s approach to Trump. The Supreme Court ruling against President Donald Trump’s tariffs marked a departure from a string of victories for the president at the high court.”

“Over the past year, the justices have overwhelmingly ruled for Trump in temporary rulings, clearing the way for him to ban transgender troops from the military, give the U.S. DOGE Service access to sensitive data and deeply cut the Education Department as legal challenges play out.”

Bloomberg: “Stocks Jump, Bond Curve Steepens as Court Axes Tariffs.”