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  • 4 months ago
Trump has asked the U.S. Supreme Court to overturn a lower court ruling that struck down his sweeping tariffs as unconstitutional, according to the BBC. The Federal Circuit Court of Appeals ruled 7-4 that Trump’s tariffs under the International Emergency Economic Powers Act exceeded presidential authority, as levying tariffs is "a core Congressional power." If left standing, the ruling could force the government to refund billions in tariffs and disrupt Trump’s trade and foreign policy agenda. Solicitor General John Sauer warned the decision threatens ongoing trade negotiations, while lawyers for small businesses challenging the tariffs said they remain confident they will prevail. The Supreme Court is expected to decide whether to review the case before the ruling takes effect on October 14th.

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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump has asked the U.S. Supreme Court to overturn a lower court ruling
00:06that struck down his sweeping tariffs as unconstitutional, and according to the BBC,
00:11Federal Circuit Court of Appeals ruled 7-4 that Trump's tariffs under the International
00:15Emergency Economic Powers Act exceeded presidential authority, as levying tariffs is a core congressional
00:21power. If left standing, the ruling could force the government to refund billions in tariffs
00:26and disrupt Trump's trade and foreign policy agenda. Solicitor General John Sawyer warned
00:31the decision threatens ongoing trade negotiations, while lawyers for small businesses challenging
00:36the tariffs said they remain confident they will prevail. The Supreme Court is expected
00:39to decide whether to review the case before the ruling takes effect on October 14th.
00:44For all things money, visit Benzinga.com.
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