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US Supreme Court to hear Trump tariff case in November / Photo: © AFP/File
NYSE - LSE
US Supreme Court to hear Trump tariff case in November
The US Supreme Court on Tuesday agreed to hear arguments in November on the legality of President Donald Trump's sweeping tariffs, after his administration asked for an expedited ruling on the issue.
A lower court found that Trump exceeded his authority in tapping emergency economic powers to impose wide-ranging duties but allowed them to temporarily stay in place, giving the Republican leader time to take the fight to the top court.
Since returning to the presidency in January, Trump has invoked the International Emergency Economic Powers Act to impose "reciprocal" tariffs on almost all US trading partners, with a 10-percent baseline level and higher rates for dozens of economies including the European Union and Japan.
He tapped similar powers to slap separate tariffs on Mexico, Canada and China over what he said was the flow of deadly drugs into the United States.
But several legal challenges have been filed against the tariffs, and the US Court of Appeals for the Federal Circuit ruled 7-4 last month that many of the levies were illegal, affirming a lower court's finding.
The appeals court ruling also cast doubt over deals Trump has struck with key trade partners such as the EU -- raising the question of what would happen to the billions of dollars in tariffs already collected by the United States if the conservative-majority Supreme Court does not side with him.
Trump's administration asked the top court last week for an expedited ruling preserving the tariffs, saying the lower court decision has already damaged trade negotiations.
In a sign of Trump's ongoing efforts to strike trade deals, the president said Tuesday that talks with India would continue, despite strained ties since his imposition of 50-percent tariffs over New Delhi's purchases of Russian oil.
"I am pleased to announce that India, and the United States of America, are continuing negotiations to address the Trade Barriers between our two Nations," Trump wrote on his Truth Social platform, adding he feels "certain that there will be no difficulty in coming to a successful conclusion" for both countries.
Trump also said he would be speaking with India's Prime Minister Narendra Modi "in the upcoming weeks."
A.S. Leite--JDB
