Trump to ask Supreme Court for ‘expedited ruling’

US President Donald Trump said Tuesday that he plans to seek a
swift ruling from the Supreme Court as his administration pushes to overturn a
court decision that found many of his tariffs illegal.
"We're
going to be going to the Supreme Court, we think tomorrow, because we need an
early decision," Trump told reporters.
He added that he would ask for an "expedited ruling,"
warning that "if you took away tariffs, we could end up being a
third-world country."
The US
Court of Appeals for the Federal Circuit, in a 7-4 ruling on Friday, had
affirmed a lower court's finding that Trump exceeded his authority in tapping
emergency economic powers to impose wide-ranging duties.
But the
judges allowed these levies to stay in place through mid-October, giving Trump
time to take the fight to the Supreme Court. On Tuesday, Trump claimed that the
stock market was "down because of that."
"We're
going to be going to the Supreme Court, we think tomorrow, because we need an
early decision," Trump told reporters
"The
stock market needs the tariffs. They want the tariffs," he said.
Wall
Street's major indexes retreated Tuesday as uncertainty surrounding the fate of
Trump's duties dragged on.
Since
returning to the presidency, Trump has invoked the International Emergency
Economic Powers Act to impose "reciprocal" tariffs on almost all US
trading partners, with a 10-percent baseline level and higher rates for dozens
of economies including the European Union and Japan.
He tapped
similar powers to slap separate tariffs on Mexico, Canada and China over what
Trump said was the flow of deadly drugs into the United States.
Friday's
ruling did not however impact sector-specific tariffs like those on steel,
aluminum and autos, which were rolled out under different authorities.
The
decision still marks a blow to the president, who has wielded tariffs as a
broad economic policy tool.
It could
also cast doubt over deals Trump has struck with key trading partners like the
EU, raising the question of what would happen to the billions of dollars
collected by the United States since the tariffs were put in place -- if the
conservative-majority Supreme Court does not back him.
Several
legal challenges have been filed against the tariffs Trump invoked citing
emergencies.
If these
tariffs are ultimately ruled illegal, companies could potentially seek
reimbursements.
















