News
Trump asks apex court for early hearing on tariffs
View(s):By Kapila Bandara
As was expected, the Trump administration has challenged in the apex court last week’s court of appeals ruling that said tariffs were unconstitutional, but a decision may not come until next summer in the United States.
The Trump Administration filed a challenge just days after the US Court of Appeals for the Federal Circuit said that President Donald Trump had no authority to impose tariffs under the International Emergency Economic Powers Act.
In a 7-4 ruling the court also noted President James Madison observing that “[t]he purse is in the hands of the representatives of the people.” President Madison had a hand in the basic framework of the US Constitution, public historical records note. The appeals court ruling is known as V.O.S. Selections v. Trump. It involves five small business plaintiffs and Oregon and 11 other state plaintiffs, court records show.
This Wednesday, President Donald Trump urged the Supreme Court to take up the hearing in November.
The Court of Appeals ruling takes effect October 14, making room for a Supreme Court petition.
In the SC petition, the Solicitor General says, among other things, that although the Federal Circuit has stayed its mandate pending the SC review, “its decision has jeopardised ongoing foreign negotiations and threatens framework deals.”
This and other developments have worsened economic policy and trade policy uncertainty.
The UN Conference on Trade and Development (UNCTAD) said this week in an update, “Uncertainty has soared to record levels.”
UNCTAD suggests diversified export markets and trade agreements for countries to be resilient.
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