US EditionPublished • loading... • Updated
Tariff Uncertainty Here to Stay Regardless of Supreme Court Ruling
Small businesses and states challenge tariffs under the 1977 law, risking $130 billion repayments and ongoing consumer price increases, with the Supreme Court hearing expedited.
- Recently, the U.S. Supreme Court agreed to hear on an expedited basis a challenge to President Donald Trump's emergency tariffs imposed under the International Emergency Economic Powers Act, including anti‑fentanyl duties on Canada, Mexico and China proclaimed on 'liberation day'.
- Challengers argue the IEEPA does not mention 'tariffs' and only Congress can impose taxes under the Constitution; no prior president used the 1977 IEEPA this way, with repeated tariff changes since.
- Financially, if ordered to repay, the administration could face about $130bn in liabilities, and last April Donald Trump, President, imposed import taxes of at least 10% on every U.S. trading partner.
- Unwinding the duties could take months and, as one source told The Center Square, `That process will likely take a lengthy period of time`, with refunds complicated and businesses reporting higher consumer prices.
- Markets predict a low probability of the administration prevailing, and Matt Lekstutis said, 'Tariff uncertainty is here to stay, regardless of the ruling.
Insights by Ground AI
Podcasts & Opinions
35 Articles
35 Articles
InsideNoVA.com+30 Reposted by 30 other sources
Tariff uncertainty here to stay regardless of Supreme Court ruling
(The Center Square) – Even as small businesses wait for the U.S. Supreme Court to rule on President Donald Trump's tariff authority, a supply chain expert says uncertainty around import duties will continue.
Why Trump is panicking about the Supreme Court and tariffs
Donald Trump’s public bluster masks real anxiety as the Supreme Court weighs the legality of his emergency tariffs – and a ruling against him would be costly, humiliating and politically explosive, writes Chris Blackhurst
·London, United Kingdom
Read Full Article
Coverage Details
Total News Sources35
Leaning Left3Leaning Right9Center6Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 17%
C 33%
R 50%
Factuality
To view factuality data please Upgrade to Premium
