"Supreme Court to Tackle Trump's Tariff Power Grab"

Supreme Court to Review Legality of Trump's Sweeping Tariffs, Potentially Impacting $1 Trillion in Collections In a significant development, the US Supreme Court has agreed to review the legality of President Trump's sweeping tariffs imposed on certain countries. The court's decision comes as the government estimates it has collected nearly $1 trillion in tariffs that could be refunded if the court rules against them. The case is set to be heard in November, with implications for US trade policy and the potential financial impact on businesses. According to a statement from the Supreme Court, the justices will review whether Trump's tariffs bypassed congressional authority, which two lower courts have deemed illegal. President Trump announced the tariffs in April 2020 as part of his broader trade agenda. The move was met with opposition from several countries and business groups, who argued that it would lead to higher prices for consumers and harm American businesses. Two lower courts have already ruled against the tariffs, but the Supreme Court's review will provide a final say on their legality. The government estimates that if the court rules in favor of the challengers, nearly $1 trillion in tariffs could be refunded. This amount includes tariffs collected from countries such as China, Mexico, and Canada. The potential financial impact on businesses is significant, with many companies already feeling the pinch from higher costs due to the tariffs. According to an expert, the Supreme Court's review of the tariffs will have far-reaching implications for US trade policy. "This case has the potential to reshape the way the US government imposes tariffs and could lead to a more transparent and accountable process," said Dr. Susan Schwab, a trade expert at the University of Maryland. The Supreme Court's decision to review the tariffs comes as President Biden is seeking to renegotiate several trade agreements with key partners. The case will provide valuable insight into how the new administration plans to approach trade policy and whether it will continue or reverse some of Trump's policies. In a statement, the US Trade Representative's office said that they are "reviewing the decision" and would not comment further on the matter. The court's review is expected to be heard in November, with a ruling likely to come down in 2024. The Supreme Court's review of the tariffs has significant implications for businesses and consumers alike. As the case moves forward, it will be closely watched by trade experts, policymakers, and business leaders who are eager to see how the court rules on this critical issue. This story was compiled from reports by NPR News and NPR News.