Supreme Court Rules Against Trump's Tariffs: These 10 Stocks Are Soaring

A historic Supreme Court ruling invalidating President Donald Trump's sweeping global tariffs triggered a sharp rally across U.S. equities Friday, as investors cheered the removal of duties that had reshaped trade flows and markets for nearly a year.

The decision, issued Friday, held that the International Emergency Economic Powers Act does not authorize the president to impose tariffs.

Chief Justice John Roberts wrote that Article I of the Constitution grants Congress alone the power to levy duties and taxes.

What Did The Court Decide?

In a consolidated 6-3 ruling, the Court found that IEEPA's authority to "regulate … importation" does not include the power to impose tariffs.”

The majority said the president must point to "clear congressional authorization" to justify such sweeping economic action.

President Trump had declared national emergencies tied to drug trafficking and "large and persistent" trade deficits. Under that authority, he imposed a 25% duty on most imports from Canada and Mexico and a 10% duty on most Chinese imports.

He later increased Chinese tariffs to 20%, then layered additional "reciprocal" tariffs of at least 10% on all trading partners. Within weeks, rates on Chinese goods rose to 34%, then 84%, and ultimately 125%, bringing the effective tariff rate on many products to 145%.

The administration argued the tariffs could reduce the federal deficit by $4 trillion and support trade deals worth up to $15 trillion. The Court rejected that view, noting no president in IEEPA's nearly 50-year history had used the law to impose tariffs.

Market Reaction: 10 Stocks Lead The Rally

According to the Benzinga Pro platform, 10 stocks with at least $2 billion in market capitalization posted the biggest gains following the Supreme Court’s decision:

1. RingCentral Inc. (NYSE:RNG) rose 13.89% to $40.40
2. Vicor Corp. (NASDAQ:VICR) gained 11.96% to $153.00
3. Legence Holdings Inc. (NASDAQ:LGNC) climbed 11.30% to $53.97
4. SolarEdge Technologies Inc. (NASDAQ:SEDG) advanced 9.58% to $38.86
5. Applied Optoelectronics Inc. (NASDAQ:AAOI) jumped 9.20% to $50.30
6. Fastly Inc. (NYSE:FSLY) added 8.73% to $19.90
7. GRAIL Inc. (NASDAQ:GRAL) rose 8.46% to $53.56
8. Copart Inc. (NASDAQ:CPRT) gained 7.98% to $36.59
9. McGraw Hill Inc. (NYSE:MH) advanced 7.34% to $14.24
10. TTM Technologies Inc. (NASDAQ:TTMI) climbed 7.01% to $106.65

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