Key Highlights
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- The Supreme Court is expected to issue a ruling Friday in a case that could reshape President Donald Trump's trade agenda.
- At issue is the scope of presidential authority to impose tariffs under longstanding trade laws. The cases stem from lawsuits filed by an educational toy manufacturer and a family-owned wine and spirits importer, with the court weighing whether the International Emergency Economic Powers Act (IEEPA) authorized the tariffs or whether the move exceeded constitutional limits.
- SUPREME COURT EXPECTED TO RULE FRIDAY ON TRUMP'S POWER TO IMPOSE TARIFFS Billions of trade duties have flown into federal coffers on the heels of President Donald Trump's tariffs.
- (Mark Ralston/AFP/) The Trump administration has invoked the IEEPA to impose five separate tariff measures — including reciprocal tariffs, fentanyl-related tariffs, tariffs tied to Russian oil imports currently levied on Indian goods, Brazil-related tariffs, and trade agreements negotiated with foreign countries under the law — a sweeping use of emergency powers now under scrutiny by the court.
