On November 5th, personally attending the hearing! Trump "pressures" the U.S. Supreme Court on the key "tariff ruling"
Although the U.S. President has visited the Supreme Court for events such as the swearing-in ceremony of justices, it is extremely rare for them to be present during oral arguments. Analysts believe that this ruling is likely to determine the fate of tariffs, which are the "cornerstone" of Trump's economic agenda. If Trump loses, the average effective tariff rate in the U.S. could be reduced by at least half from 16.3%, and he may be forced to refund tens of billions of dollars in taxes, while potentially overturning preliminary trade agreements Trump reached with some countries
Former U.S. President Donald Trump stated that he might personally attend the oral arguments regarding the legality of tariffs at the Supreme Court, highlighting the case's significance for his tariff policy.
On Wednesday local time, Trump mentioned at the White House that he might attend the oral arguments in the tariff case scheduled for November 5 at the U.S. Supreme Court:
I think I will go to the Supreme Court to watch the arguments. I have never done that before, although I have had some quite significant cases. I believe this is one of the most important cases in history.
If we cannot win this lawsuit, we will be in a weakened, troubled financial chaos for many years to come.
According to Xinhua News, the U.S. Supreme Court previously announced that it would expedite the review of the legality of most tariffs imposed by the Trump administration and would hear oral arguments on November 5. The tariffs involved in the lawsuit include the 10% "baseline tariff" imposed globally by Trump under the 1977 International Emergency Economic Powers Act, higher tariffs on trading partners that have not reached trade agreements with the U.S., and the so-called "fentanyl tariff."
This will be the first time the Supreme Court determines the legality of Trump's major policies since his return to the White House, potentially deciding the fate of tariffs, which are a "cornerstone" of Trump's economic agenda.
If Trump loses the case, the average effective tariff rate in the U.S. could be reduced by at least half from 16.3%, and he may be forced to refund hundreds of billions of dollars in tariffs, while potentially overturning preliminary trade agreements Trump reached with some countries.
Although the president has previously visited the Supreme Court for events such as the swearing-in ceremony of justices, it is extremely rare for him to be present during oral arguments. Trump had indicated plans to go to the Supreme Court when the justices were considering whether he enjoys presidential immunity from criminal prosecution, but ultimately chose to hold a press conference at his Mar-a-Lago estate.
The current controversy centers on the Trump administration's claim that the existing tariff policy is authorized by the 1977 International Emergency Economic Powers Act, which grants the president a series of tools to address national security, foreign policy, and economic emergencies.
On May 28 of this year, a three-judge panel at the U.S. Court of International Trade in New York ruled in a lawsuit brought by small business owners and 12 states that Trump did not have the authority to impose the aforementioned tariffs under the International Emergency Economic Powers Act. The U.S. Court of Appeals for the Federal Circuit subsequently heard the Trump administration's appeal and upheld the original ruling with a 7-4 vote on August 29. The Trump administration then appealed to the U.S. Supreme Court.
U.S. Treasury Secretary Janet Yellen and other officials have repeatedly emphasized that if the Supreme Court issues an unfavorable ruling for the government, the tariffs that the Trump administration would need to refund could reach as high as $1 trillion by next June, a consequence that would be catastrophic. An unfavorable ruling would also impact the trade agreements the Trump administration has reached and ongoing trade negotiations
