00:00It's Benzinga, bringing Wall Street to Main Street.
00:03The Supreme Court agreed Tuesday to hear the Trump administration's appeal to preserve
00:07sweeping global tariffs, with arguments set for early November, according to the Wall Street
00:11Journal. A ruling could arrive before year-end, marking the first major test of a Trump second
00:16term policy. Lower courts have struck down the tariffs, but they remain in place pending the
00:21outcome. The administration argues that removing them would cause economic harm, citing expectations
00:27of $750 billion to $1 trillion in tariff collections, with catastrophic consequences.
00:33Businesses challenging the tariffs say the duties are inflicting daily damage.
00:37The case hinges on the president's power under the International Emergency Economic Powers Act,
00:42which several courts have found does not authorize the sweeping measures.
00:46For all things money, visit Benzinga.com.
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