Supreme Court strikes down Trump's tariffs with $175B on the line

President Donald Trump fumed on Friday after the Supreme Court made the extraordinary move of ruling against his widespread tariff policy. 

Trump was meeting with members of the National Governors Association when the ruling came down, and called it a 'disgrace,' according to CNN. 

In a 6-3 decision, penned by Chief Justice John Roberts, the court said Trump did not have the authority under the International Emergency Economic Powers Act of 1977 to impose tariffs.

Trump had used the law as a legal footing for his widespread tariff policy, which he boasted would enrich the nation. 

An estimated $175 billion in tariff revenue is at stake, according to the Penn-Wharton Budget Model, Reuters reported.  

On April 2, he celebrated 'Liberation Day,' announcing reciprocal tariffs on nations around the globe - even on uninhabited islands. 

The President used the justification that there was a national emergency due to trade deficits and national security threats. 

As he entered office last year, he imposed tariffs on Mexico, Canada and China over fentanyl flooding into the U.S. 

Trump also used tariffs to threaten other countries, such as dangling a 25 percent tariff on Indian imports due to the country continuing to buy Russian oil. 

But Roberts, who was appointed by Republican President George W. Bush, wrote in the ruling that if Congress had intended to allow the President the 'distinct and extraordinary power to impose tariffs, it would have done so expressly - as it consistently has in other tariff statutes.' 

The Chief Justice said that the 'president must "point to clear congressional authorization" to justify his extraordinary assertion of the power to impose tariffs.' 

'He cannot,' Roberts said.  

For months, Trump has publicly pushed the high court to rule in his favor, even flirting with coming to the Court's chambers to watch oral arguments. 

This is a breaking news story and will be updated.