The U.S. Supreme Court has scheduled the first hearing on the legality of global tariffs imposed by President Donald Trump for Nov. 5, Reuters reported, quoted by BTA.
The justices decided earlier this month to take up the case after a lower court ruled that Trump had exceeded his authority by imposing most of the tariffs under a federal law intended for emergencies. The president's administration appealed to the Supreme Court on Sept. 4.
The court, whose new nine-month term begins Oct. 6, will also hear a separate challenge to the tariffs filed by U.S. toy company “Learning Resources“ (Learning Resources).
Earlier in September, Trump said that if the appeals court’s Aug. 29 ruling that many of the tariffs were illegal is upheld, the Treasury Department could have to reimburse companies for their costs.
According to Customs and Border Protection, the federal budget has received record revenues since the spring, when tariffs on imports from dozens of countries were introduced. In fiscal year 2025, revenues related to the International Emergency Economic Powers Act will amount to more than $210 billion.
A document filed with the Supreme Court states that postponing a decision until June 2026 could result in the collection of tariffs worth between $750 billion and $1 trillion, the possible repeal of which could cause serious disruption.