Trump Administration Seeks New Revenue After Supreme Court Tariff Ruling

Why it matters locally: While the specific goods impacted by the invalidated tariffs are not detailed, shifts in federal revenue collection and potential new tariffs could indirectly affect South Dakota's trade-dependent agricultural and manufacturing sectors through changes in import/export costs or consumer prices.

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WASHINGTON – The Trump administration is exploring methods to replace revenue streams that ceased after a Supreme Court decision in February. The Court invalidated what officials described as the Trump administration's largest tariff measure, which had imposed double-digit import taxes on goods from numerous countries. Historically, these tariffs significantly augmented the U.S. Treasury's revenue. With their elimination, officials now face the task of identifying alternative funding sources to meet the administration's financial objectives.