Trump Tariffs: Supreme Court's Landmark Decision Looms, Billions at Stake

• US Supreme Court to rule on Trump-era tariffs by January 9, 2026, impacting global markets and US trade policy.
• Tariffs (10-50%) were imposed on goods from Canada, Mexico, and China under emergency powers, citing fentanyl supply chain concerns.
• Lower courts deemed tariffs unconstitutional, arguing only Congress holds the right to impose taxes; Supreme Court expedited the case.
• JPMorgan predicts a 70% chance of tariffs being revoked, potentially leading to $140 billion in refunds and a lower US tariff rate.
• Decision will define presidential emergency economic powers and could cause significant market fluctuations, especially for tariff-sensitive sectors like auto and industrials.

Why It Matters: Supreme Court's Trump tariff ruling will reshape US trade, impact markets, and define presidential economic power.