""With a Victory, we have tremendous, but fair, Financial and National Security. Without it, we are virtually defenseless against other Countries who have, for years, taken advantage of us," he wrote. "Our Stock Market is consistently hitting Record Highs, and our Country has never been more respected than it is right now. A big part of this is the Economic Security created by Tariffs, and the Deals that we have negotiated because of them.""
"The Supreme Court on Wednesday will hear arguments in a case that argues that Trump overstepped his powers in imposing a bulk of his tariffs under the International Emergency Economic Powers Act. Those tariffs include the wide-ranging global tariffs enacted on Liberation Day, as well as those slapped on imports from China, Mexico and Canada. The plaintiffs argue that the 50-year-old law, which has never before been used to impose import taxes, don't extend tariff powers to the president."
Trump officials say the administration could reimpose tariffs overturned by the Supreme Court using other trade authorities, while Trump warns that a loss would be economically devastating. The Supreme Court will hear a challenge asserting that Trump exceeded his authority by imposing many tariffs under the International Emergency Economic Powers Act. Those tariffs include global tariffs enacted on Liberation Day and tariffs on imports from China, Mexico and Canada. Plaintiffs contend the 50-year-old law never authorized import taxes for presidents. The Department of Justice counters that the tariffs provide leverage to address the trade deficit and other declared emergencies. A ruling is expected next year.
Read at Axios
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