Supreme Court hears arguments on the legality of Trump's tariffs

Core Points - The Supreme Court is currently hearing arguments that could significantly impact the future of tariffs imposed by the Trump administration, which have generated approximately $195 billion in revenue through September of this year [12][6] - Small businesses are particularly affected by these tariffs, with some facing price increases of up to 100%, making it difficult for them to sustain operations [15][20] - The legal argument centers around whether the president has the authority to impose these tariffs without congressional approval, which is typically required for such actions [22] Group 1: Supreme Court Proceedings - The Supreme Court justices, including Chief Justice John Roberts, expressed skepticism regarding the government's argument that tariffs should not be viewed primarily as taxes, emphasizing that they effectively act as taxes on Americans [3][4] - The court's conservative justices, including Gorsuch and Coney Barrett, also posed critical questions, indicating a potential challenge to the Trump administration's tariff agenda [2][11] - The timeline for a decision is expected to be expedited, potentially by early next year, which is quicker than the usual six-month timeframe for the Supreme Court [9][10] Group 2: Impact on Small Businesses - Small business owners are represented in the Supreme Court case, arguing that the tariffs have led to significant price increases that they cannot absorb, threatening their viability [15][21] - The tariffs have disproportionately affected small businesses compared to larger firms, which may have more capacity to absorb costs [19][20] - There is concern that if the ruling upholds the tariffs, it could lead to increased closures and bankruptcies among small businesses, especially as they approach the critical holiday shopping season [23]