The Supreme Court is currently hearing arguments regarding President Trump’s authority to impose tariffs under a statute that grants the president “emergency” powers.
Jennifer Hillman of the Council on Foreign Relations explains that this case tests the Constitution’s allocation of trade powers to Congress. If the Court strikes down the tariffs, it could lead to up to $100 billion in tariff refunds.
Former Treasury Secretary Larry Summers describes tariffs as a “self-inflicted supply shock” that raises prices and slows economic growth.
(Source: Bloomberg)
https://www.bloomberg.com/news/videos/2025-11-08/trump-tariffs-on-trial-what-s-at-stake-in-landmark-case-video