US President Donald Trump announced on Tuesday he plans to seek a quick ruling from the Supreme Court in the ongoing tariffs appeal tussle between his administration and the US courts.
“We’re going to be going to the Supreme Court, we think tomorrow, because we need an early decision,” the President told reporters, and added that he would ask for an “expedited ruling” because he feared that “if you took away tariffs, we could end up being a third-world country”.
On August 29, 2025, a US Court of Appeals for the Federal Circuit had upheld a lower court’s finding that Trump “exceeded his authority in tapping emergency powers to impose wide-ranging duties” on a host of countries.
The 7-4 ruling termed the tariffs “illegal”, but allowed the levies to stay in place until mid-October, giving Trump time to fight his case in the Supreme Court.
In his latest public address, Trump said Tuesday that the US stock markets were “down because of that”.
“The stock markets need the tariffs. They want the tariffs,” he said.
Also Read: Tariffs still in place, but US court labels them illegal
The Wall Street fared the worst in a month on Tuesday, with the S&P 500 falling 0.7 per cent after paring a loss that earlier reached 1.5 per cent. The Dow Jones Industrial Average dropped 249 points, or 0.5 per cent, and the Nasdaq composite lost 0.8 per cent.
Since his second term as President of the United States, Trump has been relentless in his pursuit of bringing down the country’s trade deficit with other nations. To impose “reciprocal” tariffs on almost all of US trading partners, he invoked the International Emergency Economic Powers Act.
Keeping a 10 per cent baseline tariff rate, he slapped high tariffs for dozens of economies including China, Japan, and the European Union. Brazil and India got slapped with the highest tariffs of 50 per cent. Trump has repeatedly berated India for continuing to buy Russian crude oil, in what he says is an act that funds the Kremlin’s war in Ukraine.
The tariffs on India came into effect on August 27.
Trump tapped similar powers to slap separate tariffs on Mexico, Canada and Russia. He also blamed Mexico, China, and Canada for the flow of deadly drugs like fentanyl into the US.
It must be noted, however, that Friday’s ruling by the US Federal Court did not impact sector-specific tariffs like those on steel, aluminium, and autos, since they were rolled out by different authorities.
If the conservative-major Supreme Court does not back Trump, the US may be forced to pay back countries that it has so far collected billions of dollars from.
Follow us
