The US Supreme Court will soon be ruling on whether or not Donald Trump can use the International Emergency Powers Act to impose some sweeping global tariffs, and if that's within his authority.
Lower courts have shared in the recent past that Trump's IEEPA is illega,l but no final confirmation was made. The president's latest tariffs on trading partners with the U,S such as China, Canada, Mexico, and the EU, have become a little complicated as major firms like Costco and small businesses have ended up filing legal cases against the administration.
Firms are now seeking guaranteed refunds if the tariff policies continue to be struck down.
The news comes as the White House economic council director predicted how the Supreme Court would rule in the White House's favor in an interview.
This comes as the president vowed to give Americans a $2000 tariff rebate check to millions of people in the middle of next year, but no exact date was announced. He also issued a $12 billion farmers' aid package using tariff revenue and has proposed cutting income tax and lowering the federal deficit with the revenue.