Key Points
- The U.S. Supreme Court will hear a case on the legality of President Trump’s global tariffs on Wednesday.
- Multiple lower courts have previously ruled that Trump overstepped his authority in imposing the tariffs.
- The outcome of the case will have significant implications for the global economy.
- The U.S. Senate has also passed resolutions to end some of Trump’s country-specific tariffs, a rare challenge from within his own party.
The U.S. Supreme Court is scheduled to meet on Wednesday to decide on the legality of President Trump’s global tariffs. Many experts see this case as the next major challenge for the president and his aggressive tariff policies.
The court, which has a 6-3 conservative majority, has sided with Trump in several decisions this year. They will hear an appeal from the Trump administration after multiple lower courts ruled that the president exceeded his authority when he imposed his “Liberation Day” tariffs back in April.
The stakes are high. The legitimacy of the president’s main economic policy is on the line, and the outcome will have a big impact on the global economy, businesses, and consumers.
As Yahoo Finance correspondent Ben Werschkul has reported, experts are divided on how the court will ultimately rule. President Trump has made it clear that he sees this case as extremely important to his legacy, even as his administration points to other legal avenues he could use to impose the duties. On Tuesday, Trump said the case is “literally LIFE OR DEATH for our country.”
Here’s some other recent news on Trump’s tariffs:
Last week, the U.S. and China agreed to a trade truce. This means China will suspend new export controls on rare earth metals and stop investigations into U.S. chip companies. In return, the U.S. will pause some of Trump’s “reciprocal tariffs” on China for another year and will not go ahead with plans for a 100% tariff on Chinese exports.
On Wednesday, China announced it will remove its tariffs on U.S. farm goods. This came after the U.S. removed fentanyl-related tariffs on exports from Beijing.
On Sunday, Trump stated that the most advanced Nvidia chips will be reserved for U.S. companies and kept out of China and other countries.
Meanwhile, a dispute over an ad featuring the late Ronald Reagan continues between the U.S. and Canada. The Canadian prime minister recently said he apologized to Trump over the ad.
In a rare move, the U.S. Senate has passed several resolutions that would end several of Trump’s country-specific tariffs. This represents a significant rebuke from several members of his own party.
