The US Government on Wednesday Aspreme Court to Rule Quickly in the case Regarding Global Import Tariffs. A Federal Judge PreviOutly ruled that the Tariffs Are Illegal. The Government Appealed That Ruling.
Accordance to the Judge, The Tariffs Were Imposed through An Old Law, which was only intended for Emergencies. Therefore, The Tariffs would be illegal.
Trump Asked The Court in a Statement on Tuesday to Uphold His Global Import Tariffs. He emphasized that the loss of these powers would be “Disastrous for the country” and pointed out that the ruling has already harmed sensitive trade negotiations. HIS Import Tariffs Are Intended to Put Pressure on Countries and Renegotiate Trade Agreements.
If the supreme court rules against Trump, Companies Could Potentialy Recover Tens of Billions of Dollars. It could also mean that the preliminary trade agreements with other Countries come under pressure. While the Case is Still Onoing, The Tariffs Remain in effect.