The US Supreme Court didn’t rule on challenges to President Donald Trump’s tariffs Friday, leaving markets in suspense on the fate of the administration’s signature economic policy.
The court hasn’t said when it will issue its next opinion but could schedule more releases in the next two weeks. The court issued its first opinion of the term on Friday.
Tariff-exposed stocks quickly fell in the absence of a ruling on tariffs.
Arguments on Nov. 5 suggested the court was skeptical that Trump had authority to impose the tariffs under a 1977 law that gives the president special powers during emergency situations.
A ruling against Trump on tariffs would undercut his signature economy policy and deliver his biggest legal defeat since returning to the White House. At issue are Trump’s April 2 “Liberation Day” tariffs, which placed levies of 10-50% on most imports, along with duties imposed on Canada, Mexico and China in the name of addressing fentanyl trafficking.
With assistance from Matthew Griffin
