Supreme Court Weighs Trump's Tariff Power

On November sixth, the Supreme Court grappled with former President Donald Trumps use of tariffs, a case that could reshape presidential power and global economics. Small businesses and states challenge these tariffs, claiming Trump overstepped his authority by imposing what they deem a tax. The crux of the case revolves around the International Emergency Economic Powers Act, which grants the president trade regulation during emergencies. Trump used this act to tax goods from China, Mexico, and Canada, citing drug trafficking as an emergency, and later expanded these tariffs to nearly every country, citing the US trade deficit as an extraordinary and unusual threat. Justices questioned the broad application of these tariffs and the distinction between a tariff and a tax. The case has significant implications, with an estimated ninety billion dollars in import taxes already paid. If the court rules against the administration, the government could be forced to refund billions of dollars. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.