US Supreme Court expected to rule on tariffs on Friday

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The US Supreme Court is expected to rule on Friday regarding the legality of tariffs imposed by President Donald Trump. The case, closely watched due to its impact on the global economy, challenges Trump's invocation of the International Emergency Economic Powers Act (IEEPA) in February 2025 to address trade deficits. During oral arguments in November, both conservative and liberal justices expressed concerns. Trump argues the tariffs have strengthened the US financially and in terms of national security, though economic data presents a mixed picture. While GDP grew, job growth has slowed in sectors heavily affected by the tariffs, according to a Federal Reserve analysis.
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