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Here’s how the U.S. Supreme Court ruling on Trump’s emergency tariff powers could affect Canada
A ruling against Trump’s tariffs could trigger $150 billion in refund claims and reshape Canada-U.S. trade and global supply chains, experts say.
- On Friday, the U.S. Supreme Court could rule on whether President Donald Trump lawfully used the International Emergency Economic Powers Act to impose global tariffs.
- The International Emergency Economic Powers Act, a 1977 law, was historically for sanctions and asset freezes, but President Donald Trump invoked IEEPA to impose tariffs citing fentanyl trafficking, a reading lower courts rejected and that was argued on November 5, 2025.
- Experts warn recouping roughly $150 billion in duties, including more than $133.5 billion tied to the IEEPA program, would be an administrative nightmare for U.S. importers like Costco and Revlon.
- A ruling against the tariffs would eliminate duties on Canada early in the trade war and likely boost S&P 500 earnings before interest and taxes by 2, as analysts estimate, while fiscal concerns and yield pressures could rise.
- As a test of presidential power, the ruling could reshape how U.S. administrations impose tariffs, testing emergency powers and prompting the White House to seek other tools while affecting trade partners including the UK, Japan, and South Korea.
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U.S. Supreme Court Set to Decide Trump’s Global Tariffs on January 14 — Why It Matters Beyond America
Key Points The justices will test how far presidential “emergency” powers can reach in trade. Roughly $150 billion in duties is at stake, including more than $133.5 billion tied to the emergency-tariff program. The outcome could either cement a rapid tariff shortcut or force Washington back to tighter legal tools. The U.S. Supreme Court is […]
·Brazil
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Here’s how the U.S. Supreme Court ruling on Trump’s emergency tariff powers could affect Canada
Canadian trade experts are anxiously awaiting the U.S. Supreme Court ruling on the legality of U.S. President Donald Trump’s global tariffs, saying the decision could trigger an arduous refund process.
·Canada
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Coverage Details
Total News Sources11
Leaning Left1Leaning Right4Center3Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
13%
C 37%
R 50%
Factuality
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