From CNBC, January 9:
Supreme Court holds off on Trump tariff ruling for now — what’s at stake for economy
The Supreme Court did not rule on the legality of President Donald Trump’s tariffs.
- Markets are awaiting the decision, which could have far-reaching impacts on trade policy and the U.S. fiscal situation.
- The court has the option to grant limited powers under the IEEPA and require only limited repayment of tariffs, along with multiple other options.
- Treasury Secretary Scott Bessen says he expects a “mishmash” ruling.
The Supreme Court did not rule Friday on the legality of broad tariffs imposed by President Donald Trump, leaving markets still awaiting a decision poised to have far-reaching impacts on trade policy and the U.S. fiscal situation.
There had been speculation that the tariff ruling would be issued on Friday, but the Supreme Court released just one opinion for the day, and it was unrelated to tariffs.
It is unclear when the tariff ruling will be released.
When it does come, the decision will address two issues: whether the administration can use provisions under the International Emergency Economic Powers Act to levy the tariffs, and if it isn’t proper, if the U.S. will have to reimburse those importers who already have paid the duties.
However, the final decision could also fall somewhere in between....
....MUCH MORE
