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Trump administration files appeal to Supreme Court to keep tariffs in place

Trump administration files appeal to Supreme Court to keep tariffs in place
The Trump administration asked the Supreme Court on Wednesday night to weigh in on its appeal to keep a broad set of tariffs in place after a lower court ruled they were illegal.Why it matters: Global trade is in a new state of limbo over whether the bulk of President Trump's trade agenda might be overturned.If the Supreme Court ultimately upholds the lower court ruling, the overwhelming majority of tariffs implemented under Trump would be canceled.State of play: A federal appeals court on Aug. 29 held that Trump exceeded his authority by enacting widespread tariffs under the International Emergency Economic Powers Act (IEEPA).The court, however, allowed the tariffs to remain in place through Oct. 14. That decision does not apply to sector tariffs — including those on steel, aluminum and autos — which were implemented under a separate trade authority.Zoom in: The filing, a copy of which was seen by Axios, asks the Supreme Court for a swift ruling, with the government noting that the "stakes of the case could not be higher."The government said the lower court decision "eviscerates a critical tool for addressing emergencies through fuzzy reasoning that improperly transforms judges into foreign-policy referees."In a statement posted on X, Jeffrey Schwab, a lawyer on the team representing businesses suing the government, said he hoped for a "prompt resolution of this case."The intrigue: Trump has said the nation would face an economic reckoning if the suite of tariffs were not allowed to continue.Few economists outside the White House believe that is the case, though the tariffs were projected to contribute meaningfully to the nation's federal revenues.The Congressional Budget Office previously estimated that Trump's tariffs would lower deficits by $4 trillion over the next 10 years.

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