On September 2nd, President Donald Trump stated that he will be asking the Supreme Court for an “expedited ruling” to overturn a decision in which many of his tariffs and policies concerning imports have been found illegal. This indicates that urgency surrounds the issue and highlights the ever-present rift between the executive and judicial branches.
Trump has stated that if tariffs are taken away, the United States will end up being a “third-world country.” However, many disagree with him on this statement. The U.S. Court of Appeals for the Federal Circuit has expressed its own sentiments in a 7-4 ruling, stating that the President has no authority to implement most of his tariffs.
Trump has expressed strong feelings toward the situation, calling for immediate action from the federal government. Additionally, he has stated that the stock market is down because of the Court’s ruling, affirming, “They want the tariffs.” Trump implemented the tariffs earlier this year under the International Emergency Economic Powers Act, putting duties as high as 50 percent on certain countries’ products.
There have been worries surrounding the stock market, as stocks have fallen in the context of global debt concerns. Stocks decreased significantly on Tuesday as the ruling that the tariffs were declared illegal swept the country. With the NASDAQ composite closing 0/8% lower, the S&P 500 dropping 0.7%, and the Dow Jones Industrial Average falling 249 points, murmurs of anticipation and apprehension flood Wall Street. The numbers have been subject to change since then; however, their fluctuations since then are notable enough to keep causing distress. Additionally, the monetary foundation of the nation was greeted with unpleasant surprise by the Court’s news. Treasury Secretary Scott Bessent stated that the organization expected the Supreme Court to back Trump’s policies and that Trump was to hold an emergency meeting on September 3rd at the White House to discuss the matter.
Extending past the issue at hand, it is clear to see that at this time, disagreements within the government are having long-term effects on the American public, as well as the rest of the world. As leaders scramble to deliver results, foreign nations are left with unanswered questions. It is crucial to resolve the situation at hand, as the global economy’s state now leaves the ball in the United States’ court.
Written by Sasha Kwitkowski
