US Supreme Court Delays Ruling on Legality of Trump's Global Tariffs

The US Supreme Court has again deferred its ruling on the legality of President Donald Trump's global tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The case challenges whether Trump exceeded his authority by declaring a national emergency to impose tariffs ranging from 10 to 50 percent on imports from multiple countries. The court's next possible ruling date is February 20, following a four-week recess. A decision against Trump could lead to over $130 billion in tariff refunds and affect future trade policies. The Trump administration has indicated plans to quickly replace tariffs if struck down, while Trump expressed uncertainty about the outcome and potential financial impacts.