The Supreme Court weighs Donald Trump’s right to impose tariffs.
Arguments began on 5 November.
The Supreme Court will decide whether Trump is authorized to impose tariffs of such a wide range that they have become the cornerstone of his administration’s policy on foreign affairs. Lower courts have deemed that the president’s economic measures are an abuse of his power without Congressional approval.
The Supreme Court decision could change the balance of power in the White House between Congress and the White House, and it may set a precedent on how far presidents are allowed to go when they invoke “national emergencies” in order to achieve economic or foreign policy goals.
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A ruling against an administration could disrupt trade agreements negotiated within the tariff framework, and even cause fiscal projections to be re-evaluated. The government could be required to refund the money to businesses who paid the duty.
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Newsweek reported that according to government statistics, tariffs generated revenue of nearly $195 billion this year. They are expected to generate $3 trillion in a decade.
Donald Trump has revealed that the Supreme Court received the wrong numbers.
Trump wrote: “The “unwind”, in the event that a negative tariff decision is made, will include investments made or to be made and return of funds in excess of three trillion dollars.”
The U.S. Supreme Court received the wrong numbers. In the event that a negative tariff decision is made, there would be a “unwind”, which includes investments already made or to be made and funds returned, of more than 3 Trillion dollars. This kind of “drubbing” would be impossible to recover from. It would have a devastating impact on the future of this country and could even be unsustainable.
