Supreme Court to Rule on Trump Tariffs: $175 Billion at Stake, Major Economic Impact

• US Supreme Court to decide legality of Trump-era tariffs imposed under IEEPA, with a ruling expected today.
• The case questions presidential authority to levy broad import duties without explicit congressional approval.
• If struck down, over $175 billion in tariff revenue could be at risk of refund, impacting US consumers and businesses.
• A ruling against tariffs could lower costs for US households, but the refund process would be complex and lengthy.
• Upholding tariffs would expand executive power over trade, providing certainty but raising questions about economic efficacy.