"The Supreme Court will likely agree with lower courts that ruled President Donald Trump can't use the International Emergency Economic Powers Act to impose broad tariffs, according experts surveyed by JPMorgan. The bank hosted a conference in London last month, and in a note on Monday it summarized highlights from a session on Trump's trade policies. Trade and legal experts said the odds that the high court will rule against the Trump administration are 70%-80% and expect a decision by the end of the year, according to the note, which added that the justices may not follow traditional ideological divides."
""While the sitting three liberal justices are expected to oppose IEEPA tariffs, Chief Justice Roberts and Justice Barrett-both with pro-business leanings-may also side against," it said. "Kavanaugh is considered the swing vote and has voted with the majority 90% of the time. Legal experts point out that none of Trump's three appointed justices is distinctively 'Trumpy,' and they have been less predictable than Republicans had hoped.""
Experts estimate 70%-80% odds the Supreme Court will rule against the administration on IEEPA-based tariffs and expect a decision by year-end. Justices may not follow traditional ideological lines, with Chief Justice Roberts and Justice Barrett possibly opposing the tariffs and Justice Kavanaugh seen as the potential swing vote. President Trump invoked IEEPA to impose fentanyl-related and reciprocal tariffs. A federal district court, the Court of International Trade, and a federal appeals court have found those tariffs unconstitutional. The Federal Circuit delayed its August ruling until Oct. 14 to allow an appeal. More than 80% of second-term tariffs were based on IEEPA, and reciprocal tariffs helped secure major trade deals, including large EU investment and energy purchase commitments.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]