""Even if the tariffs had never been able to take effect, now that they have come in and changed the status quo, the court might ultimately really have pause and concern before disrupting the President's economic policy in this way," she told Fortune 's Michal Lev-Ram."
""The government is coming to court and saying, 'We would have to unwind billions or trillions of dollars. It could bankrupt our nation,'" Prelogar added. "It would be incredibly disruptive to try to scramble those eggs," referring to the billions of dollars already collected and distributed under the policy."
"Trump's move to impose 10% reciprocal tariffs on all imports-rising to as high as 50% for major trading partners-under the International Emergency Economic Powers Act (IEEPA) marked one of the most aggressive uses of executive trade authority in U.S. history."
"His administration has since reportedly collected $158 billion in tariffs, arguing that striking them down would "impossible to ever recover" and destabilize ongoing trade negotiations."
The Supreme Court will decide constitutional challenges to sweeping tariffs imposed under emergency powers and weigh the potential economic consequences of reversing those measures. The tariffs were imposed under the International Emergency Economic Powers Act and included 10% reciprocal duties on all imports, rising to as high as 50% for major trading partners. The administration has reportedly collected $158 billion in tariffs and contends that striking them down would be impossible to fully recover, could destabilize trade negotiations, and require unwinding billions or trillions of dollars already distributed. Legal observers warn that disrupting enacted economic policy could be highly disruptive to global commerce.
Read at Fortune
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