Trump's tariff appeal could have big implications for US trade
Donald Trump is appealing a recent court ruling that declared the use of emergency powers to impose tariffs illegal, but left the tariffs in place pending appeal.
The decision has sparked debate over trade deals and possible refunds for importers.
Unless the Supreme Court speeds things up, a final answer might not come until mid-2026—so those tariffs could stick around for a while.
Tariff ruling's impact on markets and future trade negotiations
The ruling affects almost half of the current fiscal year's tariff revenue, and markets definitely noticed: the S&P 500 dipped 1.16%, and Treasury yields went up.
Tariffs on things like fentanyl-related imports are still unresolved, adding to uncertainty.
Analysts think Trump's team may try other legal routes to keep tariffs in place as international negotiations continue, making this Supreme Court decision a big deal for future US trade policy.