The Supreme Court is being asked for the first time to block President Donald Trump’s tariffs on imported goods by a pair of toy makers that say their businesses are at risk.
The case could have major implications for a wide range of industries, including the energy sector, which has faced soaring costs and heightened uncertainty about its economic future in light of the tariffs and the resulting global trade war.
Two federal courts have previously ruled that Trump’s novel approach of imposing sweeping tariffs on imported goods is illegal and a federal appeals court in a separate case has said the tariffs can stay in place until it hears arguments on July 31.
The petition filed Tuesday argues that the International Emergency Economic Powers Act that Trump relied upon to impose tariffs does not provide a president with “any tariffing power whatsoever, as every presidential administration until this one has understood.”
