The Supreme Court of the United States is expected to deliver a closely watched verdict today on the legality of tariffs imposed during the administration of Donald Trump, a ruling that could have far-reaching implications for US trade policy. The judgement, anticipated around 8 p.m. IST, follows multiple deferments by the court over the past few months. Market participants and policymakers alike are watching the outcome closely.

The case before the court consolidates Learning Resources v. Trump and Trump v. V.O.S. Selections, Inc., both filed in 2025. At the centre of the dispute is whether the International Emergency Economic Powers Act authorises the executive branch to impose broad tariffs through presidential orders. The decision is expected to clarify the scope of emergency economic powers in trade matters.

Legal experts say the ruling could redefine the balance between presidential authority and congressional oversight in US trade actions. If the court finds the tariffs unlawful, it may force a rollback of several trade measures introduced under Trump’s policy framework. Such a move could trigger significant adjustments across multiple sectors.

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Economists warn that striking down the levies could also create short-term volatility in Washington’s broader economic landscape. Industries that adapted to the tariff regime may face uncertainty, while importers and trading partners could see immediate effects depending on the court’s direction. With global markets on alert, the verdict is poised to become one of the most consequential US trade rulings in recent years. Further updates are expected once the Supreme Court formally announces its decision later today.

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