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Wait Continues as Supreme Court Doesn’t Rule on Tariffs
More Decisions Could Be Scheduled Next Week
The U.S. Supreme Court didn’t rule on challenges to President Donald Trump’s tariffs Jan. 14, leaving the world to wait until at least next week to learn the fate of his signature economic policy.
The court hasn’t said when it will issue its next opinions but could schedule more decisions Jan. 20-21, when the justices again are in session.
Consumer stocks including Lululemon Athletica Inc. and Mattel Inc. fell on the lack of a ruling, while power-tool maker Stanley Black & Decker Inc. erased an earlier gain.
Arguments on Nov. 5suggestedthe 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 deliver his biggest legal defeat since returning to the White House.
READ MORE: Trump Ready to Pivot If Court Overturns Tariffs
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.
A decision against Trump could alsoopenthe way for more than $130 billion in refunds.
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