Donald Trump said Tuesday at the White House that he’s pushing the Supreme Court for an emergency ruling on a case that’s already halfway through the courts, one that could blow a hole in his entire tariff program. Speaking to reporters, Trump said the appeal of the ruling that blocked his tariff authority needs to be resolved fast. “We’re going to be going to the Supreme Court, we think tomorrow, because we need an early decision,” he said. He added that he’ll be asking for “early admittance” and “an expedited ruling.” This is all tied to a decision handed down Friday by the U.S. Court of Appeals for the Federal Circuit. In a 7–4 split, the court said Trump didn’t have the power to roll out most of the tariffs he’s been using, especially the ones imposed through the International Emergency Economic Powers Act. The judges said only Congress has the power to tax imports, and that Trump’s moves went beyond the limits of presidential authority. The ruling is paused until October 14 to give the administration a shot at getting the Supreme Court to reverse it. “If you take away tariffs, we could end up being a third-world country,” Trump said . He claimed the entire financial structure of the U.S. economy could collapse if the court doesn’t act quickly. “The financial fabric of our country is at stake,” he said. Trump claims the market is reacting to the court ruling Speaking just hours after market indexes dipped, Trump blamed the drop on the court’s decision. “The stock market’s down because of that, because the stock market needs the tariffs,” he told reporters. “They want the tariffs.” He offered no market data to back that claim, but said the ruling spooked traders and investors who’ve come to expect tariff protections as part of his economic agenda. The tariffs under fire were pushed earlier this year using the 1977 emergency law. Some of the duties reached as high as 50% on imports from countries Trump accused of failing to stop the flow of fentanyl into the U.S. The list included China, Mexico, and Canada; all of them top trade partners. The administration argued that fentanyl was enough of a national security threat to justify the tariffs. The court disagreed. In its opinion, the Federal Circuit wrote that “the core Congressional power to impose taxes such as tariffs is vested exclusively in the legislative branch by the Constitution. Judges said Congress never gave presidents the right to act unilaterally on tariffs unless very specific conditions were met, conditions they said weren’t present in Trump’s case. “Tariffs are a core Congressional power,” the court added. Administration braces for legal fallout while Trump slams India trade Trump’s officials aren’t sitting around waiting. Treasury Secretary Scott Bessent told reporters that while the administration is confident the Supreme Court will support the tariffs, a fallback plan is already in the works. He didn’t say what Plan B looks like, but made it clear the administration expects a fight. Meanwhile, the web of reciprocal tariffs Trump placed on dozens of countries is now legally unstable. The White House hasn’t said what will happen if the Supreme Court refuses to hear the case, or rules against them. But if Friday’s decision stands, it could instantly shrink the scope of U.S. tariffs. Before the ruling, the Tax Foundation estimated that nearly 70% of imports were affected by Trump’s tariffs. That number would fall to just 16% if the Supreme Court upholds the lower court’s ruling. On top of all that, Trump zeroed in on India in a post, accusing the country of taking advantage of the U.S. “They sell us massive amounts of goods, their biggest ‘client,’ but we sell them very little. Until now a totally one-sided relationship, and it has been for many decades,” he wrote. Everything now rides on whether the Supreme Court agrees to take the case, and whether it’s willing to fast-track a ruling. Trump is betting they will. The smartest crypto minds already read our newsletter. Want in? Join them .
BYD shrugs off Buffett’s Berkshire sell-down
