US Supreme Court skips tariff ruling, no next date announced

Months after assuming office for a second term, Trump imposed sweeping tariffs on trading partners under the International Emergency Economic Powers Act that led to the challenge questioning his presidential authority and the legality of the tariffs.

A few days back, Trump said any decision striking down his tariffs would be disaster for the United States.

The higher tariffs forced many businesses to continue operations with leaner inventories, with the drop in Chinese trade the most severe.

If the Court rules that the tariffs are illegal, imports to the United States are expected to rise and the Court of International Trade has the authority to require refunds are paid to US importers and retain jurisdiction over claims for refunds for a two-year statute of limitations period.

But the same time, the US administration has said that if the Supreme Court rules against the tariffs, a plan is already in place to implement tariffs using other legal provisions.

ALCHEMPro News Desk (DS)