Greg Stohr
(Bloomberg) — The U.S. Supreme Court said Wednesday will be its next opinion day after leaving the market in suspense Friday on the fate of President Donald Trump’s tariffs, his signature economic policy.
The court never says in advance which decisions are ready for release, only that rulings in argued cases are possible when the justices take the bench at 10 a.m. Washington time.
Tariff-exposed stocks quickly fell in the absence of a ruling on tariffs Friday, when the court issued just a single ruling in a criminal case.
Arguments on Nov. 5 suggested the 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 undercut his signature economy policy and deliver his biggest legal defeat since returning to the White House. 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.
–With assistance from Matthew Griffin.
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