The US Supreme Court on Wednesday issued no ruling on the legality of tariffs imposed by President Donald Trump last year.
The court never says in advance which decisions are ready for release, only that rulings in argued cases are possible when the justices take the bench at 10:00 a.m. Washington time.
Arguments on Nov. 5 suggested the court was skeptical that Trump had authority to impose the tariffs under a 1977 law that gives the president special powers during emergency situations.
At issue are Trump’s April 2 “Liberation Day” tariffs, which placed levies of 10-50% on most imports, along with duties imposed on Canada, Mexico and China in the name of addressing fentanyl trafficking.
The court had to decide whether an American President can unilaterally impose such whopping levies on its trading partners, citing national security or emergency powers.
The ruling is going to be landmark in not just determining the future of Trump’s tariffs but also setting a precedent for how future presidents, Republican or Democrat, can invoke emergency powers to shape economic policy.
Trump has been largely dismissive of criticism surrounding the tariffs, labelling the policy as “strongest and fastest economic turnaround” in the history of United States.
In a post on Truth Social, he had also highlighted how the country will have to pay billions of dollars in case the Supreme Court were to rule against the tariff policy.
“The actual numbers that we would have to pay back if, for any reason, the Supreme Court were to rule against the United States of America on Tariffs, would be many Hundreds of Billions of Dollars (sic),” the post stated.
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