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  • 5 weeks ago
The Supreme Court agreed Tuesday to hear the Trump administration’s appeal to preserve sweeping global tariffs, with arguments set for early November, according to The Wall Street Journal. A ruling could arrive before year-end, marking the first major test of a Trump second-term policy. Lower courts have struck down the tariffs, but they remain in place pending the outcome. The administration argues that removing them would cause economic harm, citing expectations of $750 billion to $1 trillion in tariff collections with catastrophic consequences. Businesses challenging the tariffs say the duties are inflicting daily damage. The case hinges on the president’s power under the International Emergency Economic Powers Act, which several courts have found does not authorize the sweeping measures.

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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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