By Greg Stohr and Zoe Tillman
The US Supreme Court said it will decide whether the bulk of President Donald Trump’s tariffs are legal, agreeing to quickly review a challenge to his signature economic policy in a case with worldwide financial and political implications.
Heeding calls from both sides, the justices said in an order on Tuesday that they will hear arguments in early November, an unusually aggressive schedule that suggests the court will try to resolve the case quickly. The tariffs remain in place for now, even though a federal appeals court ruled that Trump exceeded his authority by imposing them.
At stake are import taxes affecting trillions of dollars in international commerce. A Trump victory would bolster presidential power and potentially give him a potent new tool to wield against trading partners as he tries to impose his global agenda.
A decision striking down the levies would cut the current average US effective tariff rate of 16.3% by at least half and could force the US to refund tens of billions of dollars, according to Bloomberg Economics analyst Chris Kennedy. It could also upend the preliminary trade deals Trump has struck with some countries.
Disclaimer
The information contained in South Florida Reporter is for general information purposes only.
The South Florida Reporter assumes no responsibility for errors or omissions in the contents of the Service.
In no event shall the South Florida Reporter be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. The Company reserves the right to make additions, deletions, or modifications to the contents of the Service at any time without prior notice.
The Company does not warrant that the Service is free of viruses or other harmful components
