Connect with us

Hi, what are you looking for?

Editor's Pick

Trump asks Supreme Court for urgent ruling on tariff powers as ‘stakes could not be higher’

The Trump administration asked the Supreme Court Wednesday to quickly make a decision on whether President Donald Trump has the authority to impose his sweeping tariffs under federal emergency law.

This appeal is a result of a federal appeals court ruling 7-4 that a vast majority of Trump’s tariffs were illegal according to the 1977 International Emergency Economic Powers Act even though it allowed the duties to remain until the case was resolved.

Many states and small businesses challenged Trump’s tariffs in a lawsuit saying they were causing serious economic harm.

‘These unlawful tariffs are inflicting serious harm on small businesses and jeopardizing their survival,’ said Jeffrey Schwab, an attorney with the Liberty Justice Center.

The Trump administration, however, countered the appeal, arguing that striking down the tariffs could cause serious economic harm.

‘That decision casts a pall of uncertainty upon ongoing foreign negotiations that the President has been pursuing through tariffs over the past five months, jeopardizing both already negotiated framework deals and ongoing negotiations,’ the Trump administration argued in its appeal. ‘The stakes in this case could not be higher.’

Officials also pointed out that the levies have raised $159 billion since late August, a figure that has more than doubled from the previous year.

Although the Constitution does give Congress the power to set tariffs throughout the years many lawmakers have delegated those authorities to the White House. Although Trump has been seen to use this to his advantage, some of his duties on steel, aluminum, autos, and earlier tariffs on China were left in place by former President Joe Biden and are not part of this case.

Legal experts have noted that the government has also warned that if the courts strike down these tariffs, the U.S. Treasury could be forced to refund billions that have already been collected.

The Supreme Court is expected to decide soon on whether they will take up the case directly, which will potentially set up a major ruling on the limits of presidential power over trade.

This post appeared first on FOX NEWS







    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.



    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Economy

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Latest News

    Not since LeBron James was drafted 20 years ago has there been this much excitement about an NBA prospect – as shown by the...

    Investing

    Bitcoin Rebounds to $83,404 on April 11, 2025 Amid Renewed Investor Confidence On April 11, 2025, Bitcoin (BTC-USD) demonstrated a significant rebound, opening at...

    Latest News

    Here’s a look at the life of Imelda Marcos, the former first lady of the Philippines. Wife of the late Ferdinand Marcos, who ruled...

    Disclaimer: Boostyoursavings.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Boostyoursavings.com