US Supreme Court Tariff Decision LIVE: Doubts Over Legality Of Trump’s Power
The challenge to Donald Trump’s tariffs marks a major test of presidential powers. The outcome will also impact the global economy scarred by the ‘Liberation Day’ tariff war unleashed in April.
During arguments heard by the court on Nov. 5, conservative and liberal justices appeared to cast doubt on the legality of the tariffs, which Trump imposed by invoking a 1977 law meant for use during national emergencies. Trump’s administration is appealing rulings by lower court that he overstepped his authority, according to a Reuters report.
US Supreme Court Tariff Decision LIVE: Trump Aide Confident About Favourable Ruling
Kevin Hassett said he has a high level of confidence that the US Supreme Court will rule in favor of Donald Trump, adding that he remains optimistic about US productivity and the broader economy.
Speaking on CNBC, the former National Economic Council director noted that he participated in a major call the previous night to discuss possible Supreme Court scenarios. Hassett also emphasized that, even if the administration does not prevail before the Court, there are tools and strategies available to address the outcome.
US Supreme Court Tariff Decision LIVE: Wall Street Awaits Ruling
The US stock market will open at 8:00 p.m., just when the Supreme Court justices take the bench during a scheduled sitting.
Index futures are up, with contracts for S&P 500 and Nasdaq up 0.3% and 0.4%, respectively.
US Supreme Court Tariff Decision LIVE: What’s At Stake
US President Donald Trump’s disruptive tariff policy hangs in the balance before the country’s highest court. The US Supreme Court could issue at least one ruling on Friday as several major cases remain pending including litigation testing the legality of the sweeping global tariffs.
The court may release opinions in argued cases when the justices take the bench during a scheduled sitting at 10 a.m. ET (8:00 p.m. India time), according to the court’s website. The court does not announce ahead of time which rulings it intends to issue.
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