All eyes are fixed on President Trump’s next move after the Supreme Court ruled he lacked authority under the 1977 International Emergency Economic Powers Act (IEEPA) to slap sweeping “emergency” tariffs on nearly all imports. Now, prediction markets reveal bettors tossing down stacks, wagering on what comes next in this high-stakes political sequel.
Markets Bet on Trump’s Next Trade Move Following 6-3 Ruling
In a 6-to-3 decision, the justices concluded that IEEPA does not plainly grant a president the power to levy tariffs of unlimited scope, size and duration, and they dismantled most of his sweeping tariff program. The Court made it clear that Congress — not the president — holds the constitutional authority to impose taxes and duties. While that ruling may cool the flames of Trump’s ‘Liberation Day’ tariffs, plenty of insiders suspect the saga is far from finished.
Markets Bet on Trump’s Next Trade Move Following 6-3 Ruling
In a 6-to-3 decision, the justices concluded that IEEPA does not plainly grant a president the power to levy tariffs of unlimited scope, size and duration, and they dismantled most of his sweeping tariff program. The Court made it clear that Congress — not the president — holds the constitutional authority to impose taxes and duties. While that ruling may cool the flames of Trump’s ‘Liberation Day’ tariffs, plenty of insiders suspect the saga is far from finished.