The US Supreme Court announced a session on Friday where various decisions will be announced. This date marks the first potential ruling from the court in the case against President Donald Trump regarding global tariffs.
The court does not specify in advance which cases will be decided. However, it is stated that verdicts may be delivered in previously heard cases at this session, where the judges will take the stand at 10:00 Washington time. The fact that the case regarding Trump’s tariffs has been handled expedited so far has also strengthened the expectation that a decision may be made at this session.
The lawsuit concerns the tariff package that Trump announced on April 2 and called “Freedom Day.” This package imposed additional tariffs ranging from 10 to 50 percent on a large portion of imports; it also applied additional tariffs to Canada, Mexico, and China under the pretext of combating illegal drug trafficking.
A ruling against Trump would strike a blow to one of the president’s core economic policies and is seen as one of the biggest legal defeats he has faced since returning to the White House. Speaking to Republicans in the House of Representatives today, Trump said, “We have a big Supreme Court case… I hope they do what’s right for our country. The president should be able to negotiate tariffs.”
Arguments presented by the parties at the November 5 hearing indicated that the Court was skeptical about Trump’s authority to impose tariffs. At the heart of the debate is whether a 1977 law, which grants the president broad powers during “emergency” periods, can serve as a basis for these tariffs.
*This is not investment advice.
