Economists Urge Supreme Court to Overturn Trump’s Global Tariffs
Nearly 50 top economists, including former Federal Reserve Chairs Ben Bernanke and Janet Yellen, have asked the U.S. Supreme Court to strike down most of Donald Trump’s global tariffs, calling them economically misguided and legally unfounded.
In their filing, the economists argued that trade deficits are normal and not the kind of “extraordinary threat” required to justify emergency tariffs under the 1977 International Emergency Economic Powers Act (IEEPA). They warned that the tariffs could have trillions in economic impact, hurting households nationwide.
The Supreme Court will hear arguments on Nov. 5 to decide whether Trump legally declared trade deficits a national emergency to impose tariffs ranging from 10% to 50% on imports from countries like China, Mexico, and Canada.
Supporters of the challenge include 31 former judges, national security officials, and several Democratic-led states, who say Trump overstepped his authority and imposed what amounts to a $3 trillion tax on Americans. Meanwhile, Trump’s allies argue the president acted within his powers to protect U.S. interests.
The case could reshape the limits of presidential authority over trade and national security policy.