The European Union could not be blunter: "A deal is a deal. As the United States' largest trading partner, the EU expects the U.S. to honour its commitments set out in the Joint Statement - just as the EU stands by its commitments."

In a statement issued early Sunday (7/22), the European Commission went on the say, "in particular, EU products must continue to benefit from the most competitive treatment, with no increases in tariffs beyond the clear and all-inclusive ceiling previously agreed."

It noted that as recently as August 20225, the U.S. and EU had iagreed to "“fair, balanced, and mutually beneficial” transatlantic trade and investment."

The statement was was a response to President Trump's three-point response to the U.S. Supreme Court decision that invalidated his tariffs announced on April 1, 2025, and repeatedly amended ever after, sometimes changing day by day.

First, Trump almost immediately imposed a 10% tariff under a statute that appears to clearly give him the authority to do so. Second. his administration asserted that anyone who hopes for a refund may have to wait as long as five years before a see a penny of the money the government illegally took from them. Third, “Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday,” by the US Supreme Court, Trump raised the worldwide tariff to 15%. .

"Tariffs are taxes, driving up costs for both consumers and businesses, as recent studies clearly confirm," the EU said, delivering a lesson in basic economics. "When applied unpredictably, tariffs are inherently disruptive, undermining confidence and stability across global markets and creating further uncertainty across international supply chains."

Trump's authority to apply a global 15% tariff on top of whatever other tariffs may legally be in place expires after 150 days is found in Sec. 122 of the Trade Act of 1974.. Then he will turn to a different statute that has no time limit but requires an investigation, hearing, etc.

Finally, a defiant Trump has made it clear that anyone who hopes for a speedy refund for tariffs paid as a result of Trump's now-overturned action will have a long wait – at least five years, he said, while the matter is tied up in the courts.

Opinion: This is vintage Trump. He took a huge gamble, going into an area where no president had ever gone. Then when the gamble didn't work out, the man who put six companies into bankruptcy (three of them casinos!), turned to the courts to drag out repayment of the money he illegally.

The problem is, whatever Trump does won't change the fact that the U.S. Government now owes a bunch of businesses and individuals more than $133 million. Delaying payment will only drive up the cost even more as additional in interest expense accrues.

What They're Saying About the Trump's Tariffs and the Court

Washington Post: Trump’s tariffs fall to a principled Supreme Court

The decision is a triumph for the separation of powers and individual liberty.

Wall Street Journal: Trump Demeans Himself as He Attacks the Supreme Court

He calls the Justices who ruled against him ‘very unpatriotic’ and ‘fools.’

New York Times: Is This the Most Important Supreme Court Case of the Century?

In terms of sheer economic impact the case dwarfed many of the most contentious cases of the last several terms, including, for example, Biden v. Nebraska, the case blocking President Joe Biden’s student loan debt forgiveness program. In fact, it may prove to be the most important Supreme Court decision this century. And if you think I’m being hyperbolic, let me explain. (Amazingly, I couldn't find an official NY Times editorial, so this is from one of their writers.)

Note to readers: I don't expect to publish Tuesday, although that could change. – Joel