Tariffs in the Balance

Lady Justice has President Trump’s tariffs in her balance scale in one of the weightiest political-economic cases in decades.

POTUS’s global taxes came before SCOTUS in a two-and-a-half-hour hearing Wednesday, and the noble nine seemed skeptical of the tariffs’ legal basis. The Trump administration argues that the sweeping levies are authorized by 1977 emergency powers allowing the president to regulate imports without Congress’s go-ahead. A group of businesses and Democratic states say Trump exceeded his authority, and lower courts largely agreed. 

If the Supremes overturn Uncle Sam’s tariffs, he’ll have to refund the ~$90B in revenue collected so far this year and will have less trade talk leverage.

President Trump said he “heard the case went well” and that it’s “life or death for our country.” A decision is expected in the new year.

Verse to consider whether your economic prospects are rock solid or hanging on by a thread… “Though the fig tree does not bud and there is no fruit on the vines, though the olive crop fails and the fields produce no food… yet I will celebrate in the LORD; I will rejoice in the God of my salvation! The LORD my Lord is my strength; he makes my feet like those of a deer and enables me to walk on mountain heights!”
Habakkuk 3:17-19 (CSB) (read full passage)