The US Supreme Court is set to hear a case that could reshape Donald Trump's trade strategy and have far-reaching implications for the global economy. The administration has imposed sweeping tariffs on goods from almost every country in the world, citing an emergency under the 1977 International Emergency Economic Powers Act (IEEPA). However, opponents argue that this law authorizes the president to regulate trade but never mentions the word "tariffs," and that only Congress can establish taxes under the US Constitution.
If the court rules against Trump's administration, it would be a significant blow to his trade strategy, which has been marked by numerous tariffs and trade disputes. The ruling could also have implications for businesses that have already paid billions of dollars in tariffs, with some estimating that refunds could amount to as much as $1 trillion.
The case has already complicated the White House's trade deals, including a deal struck with the European Union. The EU is currently considering ratifying the agreement, which sets US tariffs on European goods at 15% in exchange for promises of increased US agricultural exports.
In Switzerland, chocolatier Daniel Bloch said he'd welcome a ruling against Trump's administration, as it would alleviate the cost of new tariffs on kosher chocolate that his firm has exported to the US for decades. "If the court were to make the tariffs go away, of course we would see that as a positive sign," he said.
The case is being closely watched by businesses and policymakers around the world, who are eager to see how the Supreme Court will rule on this issue. The outcome could have significant implications for global trade and the economy, making it one of the most eagerly anticipated cases of Trump's presidency.
If the court rules against Trump's administration, it would be a significant blow to his trade strategy, which has been marked by numerous tariffs and trade disputes. The ruling could also have implications for businesses that have already paid billions of dollars in tariffs, with some estimating that refunds could amount to as much as $1 trillion.
The case has already complicated the White House's trade deals, including a deal struck with the European Union. The EU is currently considering ratifying the agreement, which sets US tariffs on European goods at 15% in exchange for promises of increased US agricultural exports.
In Switzerland, chocolatier Daniel Bloch said he'd welcome a ruling against Trump's administration, as it would alleviate the cost of new tariffs on kosher chocolate that his firm has exported to the US for decades. "If the court were to make the tariffs go away, of course we would see that as a positive sign," he said.
The case is being closely watched by businesses and policymakers around the world, who are eager to see how the Supreme Court will rule on this issue. The outcome could have significant implications for global trade and the economy, making it one of the most eagerly anticipated cases of Trump's presidency.
anyway i think its wild how the EU is even considering ratifying the agreement if the court rules against trump... i mean can u imagine if that happens?? 
it would be like a total economic domino effect 
and i'm low-key rooting for Daniel Bloch's chocolatier friend to get some refunds lol they're already talking about how much $$$ they'd save 
I mean, who imposes tariffs on everything? It's like he's trying to strangle all the world's economies at once! 
Anyway, if the court does rule against Trump, I guess that'd be a sweet relief for businesses and all... maybe he'll even learn to play nice with others 
The EU's all like "hey US, 15% tariffs on our goods? Sounds good to us" but I bet they're secretly counting down the days till Trump gets taken down a peg 
. And let's be real, who doesn't love a good refund of $1 trillion 
I've lived through some tough times in my retirement years, and I know how hard it can be to deal with uncertainty. But this whole situation feels a bit too uncertain for me... 
anyway, i think it's super interesting to see how this plays out. some people in eu are actually kinda excited about it too. maybe we can finally get some of that kosher chocolate cheaper 
. On a personal level, I can understand why chocolatiers like Daniel Bloch would be relieved if the tariffs were lifted - it's not like he's asking for much! 
As for Daniel Bloch, I feel him, though - his kosher chocolate business has been around forever, and if the court rules in favor of the EU, that'd be huge! 