Skeptical Supreme Court Hears Reciprocal Tariffs Case
On November 5, the U.S. government argued before the Supreme Court that tariffs imposed by President Trump under the International Economic Emergency Act (IEEPA) were lawful because they are regulatory and not designed to raise revenue. However, as President Trump has publicly claimed that the tariffs have raised massive amounts of money, the government's argument is unlikely to convince the court. The Trump administration is expected to consider other legal ways to impose tariffs.
Read More: The Supreme Court Takes Aim at Trump’s IEEPA Tariffs →