In a landmark session today, the U.S. Supreme Court is hearing arguments over the legality of former President Donald Trump’s sweeping tariffs, a case that could redefine the limits of executive power on trade. The dispute centers on whether Trump lawfully invoked emergency powers under the International Emergency Economic Powers Act to impose tariffs that bypassed Congress.
The hearing, which began at 10 a.m. EST, has sent ripples through global markets. Traders are on alert for heightened volatility as the outcome could impact U.S. China trade relations and set a precedent for future presidential authority on economic policy.
Analysts say if the Court sides with Trump, future presidents may gain broad leeway to impose tariffs without congressional approval, a potential game changer for global trade. If the Court rules against him, it could curb presidential power and unwind key aspects of Trump’s economic legacy.
With billions in trade and political power at stake, Wall Street, commodities, and currency markets are all watching closely. A ruling is not expected immediately, but the tone of today’s arguments will shape expectations in the days ahead.
