• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Economy

Trump asks Supreme Court for urgent ruling on tariff powers as ‘stakes could not be higher’

by September 4, 2025
by September 4, 2025

The Trump administration asked the Supreme Court Wednesday to quickly make a decision on whether President Donald Trump has the authority to impose his sweeping tariffs under federal emergency law.

This appeal is a result of a federal appeals court ruling 7-4 that a vast majority of Trump’s tariffs were illegal according to the 1977 International Emergency Economic Powers Act even though it allowed the duties to remain until the case was resolved.

Many states and small businesses challenged Trump’s tariffs in a lawsuit saying they were causing serious economic harm.

‘These unlawful tariffs are inflicting serious harm on small businesses and jeopardizing their survival,’ said Jeffrey Schwab, an attorney with the Liberty Justice Center.

The Trump administration, however, countered the appeal, arguing that striking down the tariffs could cause serious economic harm.

‘That decision casts a pall of uncertainty upon ongoing foreign negotiations that the President has been pursuing through tariffs over the past five months, jeopardizing both already negotiated framework deals and ongoing negotiations,’ the Trump administration argued in its appeal. ‘The stakes in this case could not be higher.’

Officials also pointed out that the levies have raised $159 billion since late August, a figure that has more than doubled from the previous year.

Although the Constitution does give Congress the power to set tariffs throughout the years many lawmakers have delegated those authorities to the White House. Although Trump has been seen to use this to his advantage, some of his duties on steel, aluminum, autos, and earlier tariffs on China were left in place by former President Joe Biden and are not part of this case.

Legal experts have noted that the government has also warned that if the courts strike down these tariffs, the U.S. Treasury could be forced to refund billions that have already been collected.

The Supreme Court is expected to decide soon on whether they will take up the case directly, which will potentially set up a major ruling on the limits of presidential power over trade.

This post appeared first on FOX NEWS

0 comment
0
FacebookTwitterPinterestEmail

previous post
“You’re Fired” — The President, Lisa Cook, and the Fragility of Fed Autonomy
next post
US bolsters military presence in Caribbean near Venezuela amid Trump’s efforts to halt drug trafficking

Related Posts

Monetary Policy Rules Suggest Fed Should Hold Steady...

March 17, 2026

Can Immigration Address America’s Fiscal Nightmare? It Depends

March 17, 2026

The Long Shadow of COVID School Closures

March 17, 2026

Fed Officials Face Diverging Mandates

March 16, 2026

Starbucks CEO Howard Schultz Ditches Seattle After Wealth...

March 16, 2026

China’s AI Paradox: Can Innovation Thrive in a...

March 16, 2026

Warsh: The Fed Helped Create Fiscal Dominance

March 13, 2026

The End of Pax Americana

March 13, 2026

Entrepreneurs Take on the Funeral Monopoly: When Selling...

March 12, 2026

The Fed Has a Groupthink Problem. Warsh Can...

March 12, 2026

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • Disney stock trading at historically low multiple: opportunity or value trap?

    March 18, 2026
  • Is UBER stock a buy at 22x earnings? The Nvidia catalyst explained

    March 18, 2026
  • Gemini stock: Will Winklevoss Twins’ company crash below $5 after earnings?

    March 18, 2026
  • Europe bulletin: stocks rise, Bentley cuts jobs, Audi sees rebound

    March 18, 2026
  • Swarmer stock soars 700% in blockbuster AI drone IPO debut

    March 18, 2026
  • Dow Jones rises as oil above $103, Fed meeting in focus

    March 18, 2026

Editors’ Picks

  • 1

    Pop Mart reports 188% profit surge, plans aggressive global expansion

    March 26, 2025
  • 2

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 3

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 4

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 5

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • ‘The Value of Others’ Isn’t Especially Valuable

    April 17, 2025
  • 7

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025

Categories

  • Economy (4,448)
  • Editor's Pick (558)
  • Investing (782)
  • Stock (2,813)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

‘Fully justified’: Graham plows ahead with Trump...

June 13, 2025

Biden’s vax-focused COVID-19 website obliterated by White...

April 19, 2025

How Minimum Wages Punish Cash Businesses

July 15, 2025