U.S. tariff revenue is booming ahead of an upcoming landmark Supreme Court decision that determines the fate of the duties under the International Emergency Economic Powers Act (IEEPA).
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“We have taken in, and will soon be receiving, more than 600 Billion Dollars in Tariffs, but the Fake News Media refuses to talk about it because they hate and disrespect our Country, and want to interfere with the upcoming Tariff decision, one of the most important ever, of the United States Supreme Court,” Trump said in a Truth Social post on Monday.
Trump’s Tariff Authority Faces Supreme Court Review
The IEEPA, passed into law in 1977, grants the president authority to impose tariffs in order to address national emergencies.
The nation’s highest court, which has a 6-3 conservative majority, has not yet announced when it will release its decision. However, several justices appeared skeptical of the arguments issued by Trump’s legal team when oral arguments were heard in November. Trump previously warned that the U.S. would be “financially defenseless” if the court rules against the tariffs.
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