|
To receive daily emails from Breaking Christian News to your inbox CLICK HERE
American Consumers Footing the Bill: Supreme Court Hears Arguments on Trump's Tariff Power"Does the president have any power to set tariffs, which are taxes? And the Constitution is very clear that it is Congress that has the power to tax not the president. And so, there's a lot of different directions the court could do here," Jacob told CBN News.
A majority of the justices, including several conservatives, expressed doubts over President Trump's recent use of emergency powers to impose tariffs. "Could the president impose a 50% tariff on gas-powered cars and auto parts, just to deal with the unusual, extraordinary threat from abroad in climate change?" Justice Neil Gorsuch asked Solicitor General D. John Sauer. "It's very likely that can be done. This administration would say that's a hoax. It's not - it's not a real crisis," said Sauer. During an appearance on CBN's Faith Nation, Brad Jacob, Associate Dean of Regent University's School of Law, explained the legal questions surrounding the issue. "Does the president have any power to set tariffs, which are taxes? And the Constitution is very clear that it is Congress that has the power to tax not the president. And so, there's a lot of different directions the court could do here," Jacob told CBN News. The outcome of the case has huge political implications for the president's trade policy and economic consequences for consumers and businesses. In April, the Trump administration declared an emergency over trade imbalances and the inflow of fentanyl and issued tariffs on several countries, including China, Mexico, and Canada. Several states and a group of small business owners sued the administration over the tariffs. "For nearly 40 years, my family has built this business from the ground up," said Victor Schwartz, a plaintiff and founder of a wine and liquor importing business in New York. "Today, reckless tariffs threaten everything we've achieved. Let's be clear, these tariffs aren't paid by foreign governments or companies. It's American businesses like mine and American consumers that are footing the bill." On CBS's 60 Minutes, President Trump defended his actions, claiming tariffs will eventually rejuvenate the US economy. "Because of tariffs, we have the highest stock market we've ever had. Because of tariffs, 401K's are at the highest level. I think it's the most important subject discussed by the Supreme Court in 100 years," said the President. "Lower courts already said the tariffs were illegal but kept them in place," commented Kelly Wright, CBN News White House Correspondent. "If the challengers win, the government could owe businesses billions in refunds. That is something one of the justices said could be a mess." Meanwhile, financial markets will be watching the outcome of the case, given how a potential ruling could impact the economy. The court is expected to hand down a decision by the end of June. Subscribe for free to Breaking Christian News here
To receive daily emails from Breaking Christian News to your inbox CLICK HERE
Other Recent Articles from Breaking Christian News Worldwide Implications of the UAE's OPEC Exit Democrat Activist Texas Judge Rules State Agency Must Greenlight 400-Acre Islamic City Near Dallas New Footage of Trump Assassination Attempt Released. Here's What It Shows [Video] MAHA Victory on Capitol Hill as GOP Agrees to Drop Special Pesticide Protections SPLC's Indictment Prompts Loss of Donations from Vanguard, Fidelity Charitable Programs President Trump Signs Bill to Fund DHS, Ending the Democrat Shutdown Evidence Young People Are Turning to Christianity Isn’t Anecdotal; It’s Real 100 Missionaries Deploy to 10/40 Window amid Increasing Reports of Visions of 'The Man in White' WATCH: Millionaire Tax Critic Says AGO, Dems Played Politics Instead of Protecting Residents Total Victory: Florida Congressional Maps Are Now Official Ex-Muslim Flees Iran, Says Jesus Appeared in Dreams to Family Members May Day Protests are Coming. Urgent Prayers Needed! Anthony Fauci's Former Senior Adviser Indicted for Role in COVID Cover-up Feds Raid More Than 20 Sites in Minneapolis Fraud Probe This is a Spiritual Battle over America; Take Your Place Praising God, Our Worship is Warfare! Search the Articles Archives |
All articles on this site and emails from BCN are copyrighted property of Breaking Christian News. Permission is given to link to, or share a BCN story if proper attribution is given to both the original writer and summarizer of the story. Breaking Christian News 2005-2019. All Rights Reserved.
Breaking Christian News is a division of Elijah List Publications, Inc. All Rights Reserved
Disclaimer: Articles and links, as well as the source articles linked to; do not necessarily reflect the opinion of Breaking Christian News.
| Home | Store | Subscribe | Facebook | Article Archive |