Personally attending the hearing on November 5! Trump "pressures" the U.S. Supreme Court on a key "tariff ruling"

U.S. President Donald Trump said he might personally attend the Supreme Court’s oral arguments on tariff legality, highlighting the case’s critical importance to his tariff policies.

On Wednesday local time, Trump said at the White House that he might attend the oral arguments on the tariff case at the U.S. Supreme Court on November 5:

I think I’ll go to the Supreme Court to watch the arguments. I’ve never done that before, even though I’ve had some pretty major cases. I think this is one of the most important cases ever.

If we can’t win this lawsuit, we’ll be in a weakened, troubled, financially chaotic state for many years to come.

According to Xinhua News Agency, the U.S. Supreme Court previously announced it would swiftly review the legality of most tariffs imposed by the Trump administration, and will hear oral arguments on November 5. The lawsuit involves tariffs including the global 10% “benchmark tariff” that Trump imposed under the 1977 International Emergency Economic Powers Act, higher tariffs on trading partners without trade agreements with the U.S., as well as the so-called “Fentanyl tariff.”

This will be the Supreme Court’s first ruling on a major policy after Trump’s return to the White House, and is expected to decide the fate of tariffs, a “cornerstone” of Trump’s economic agenda.

If Trump loses the case, the average effective U.S. tariff rate could be reduced by at least half from 16.3%, and he may be forced to refund hundreds of billions of dollars in duties, while preliminary trade agreements Trump reached with some countries may be overturned.

Although Presidents have previously visited the Supreme Court for events such as inauguration ceremonies for Justices, attending oral arguments is extremely rare. Trump once said he planned to go to the Supreme Court when Justices were considering whether he was immune from criminal prosecution as president, but ultimately chose to hold a press conference at Mar-a-Lago instead.

The current dispute centers on whether the Trump administration’s existing tariff policies are authorized by the 1977 International Emergency Economic Powers Act, which grants the president a series of tools to address national security, foreign policy, and economic emergencies.

On May 28 of this year, a three-judge panel at the U.S. International Trade Court in New York ruled, in a suit brought by small business owners and 12 U.S. states, that Trump had no authority to invoke the International Emergency Economic Powers Act to impose the tariffs in question. The U.S. Federal Circuit Court of Appeals subsequently heard the Trump administration’s appeal, and on August 29 upheld the original ruling by a vote of 7 to 4. The Trump administration then appealed to the Supreme Court.

U.S. Treasury Secretary Bessent and other officials have repeatedly emphasized that if the Supreme Court rules against the government, by June next year the Trump administration may have to refund up to $1 trillion in tariff duties, a disastrous consequence. An adverse ruling would also affect the Trump administration’s foreign trade agreements and ongoing trade negotiations.

Risk Warning and DisclaimerThe market has risks, and investment should be cautious. This article does not constitute personal investment advice, nor does it take into account the individual investment objectives, financial situation, or needs of any particular user. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this article is at your own risk.