Washington, 10 January (H.S.): The United States Supreme Court deferred its highly anticipated ruling on Friday, on the legality of President Donald Trump's expansive global tariffs, prolonging uncertainty for businesses and trading partners as the next opinion release looms on Wednesday, January 14.Invoking the 1977 International Emergency Economic Powers Act (IEEPA)—originally designed for genuine national crises—Trump imposed so-called reciprocal duties on imports from virtually all trading partners to combat persistent trade deficits, alongside separate levies on China, Canada, and Mexico citing fentanyl trafficking and illicit drug inflows.

Lower courts deemed these measures an overreach of presidential authority, prompting an appeal after November 5 oral arguments where both conservative and liberal justices voiced skepticism over stretching IEEPA to reshape broad trade policy, with affected businesses and 12 Democrat-led states mounting the challenges.

Trump staunchly defends the tariffs as economic fortifiers, warning in a January 2 social media post that their invalidation would deliver a terrible blow to America, amid estimates of $150 billion collected—potentially refundable if struck down—while National Economic Council Director Kevin Hassett revealed contingency blueprints harnessing Section 301, Section 122 of the Trade Act, or Section 232 alternatives for near-immediate reinstatement, led by U.S. Trade Representative Jamieson Greer.

Markets brace for ripples, including prospective relief for tariff-burdened economies like India, as the dollar ticked higher amid jobs data and Bitcoin stasis.

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Hindusthan Samachar / Jun Sarkar