"The Supreme Court hears arguments Wednesday in a consequential case with potentially profound economic consequences for the country and the presidency: The issue is tariffs. Standing in the Rose Garden last April, President Trump proclaimed what he called "liberation day," a day that "will be remembered as the day American industry was reborn." Oral arguments in the case are set for 10 a.m. ET. Listen here:"
"Goods from countries like China have been hit with much higher tariffs up to 145%, though they have since come down. Imports from allies like Canada and Mexico have been taxed at 25%; Canada's rate was later increased to 35%. In an interview with CBS' 60 Minutes this week, Trump credited the tariffs with the deal he just negotiated with China, boasting that without tariffs, China would not have "come to the table." The case before the court"
The Supreme Court will hear expedited arguments over presidential tariffs that carry major economic consequences. President Trump proclaimed the tariffs a revival of American industry after issuing an executive order imposing at least a 10% tariff on most foreign goods and much higher rates for some countries. Tariffs on China reached up to 145% and ally rates such as Canada and Mexico reached 25–35%. Businesses reacted with alarm and legal challenges arguing the president exceeded statutory authority. Prior emergency Supreme Court decisions temporarily allowed other Trump policies; the full briefing gives justices a substantive opportunity to rule on presidential power.
Read at www.npr.org
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