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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