美国最高法院听证会：特朗普大范围关税合法性面临质疑

Core Points - The U.S. Supreme Court held a hearing regarding the Trump administration's appeal on tariff rulings, which could generate trillions in revenue over the next decade [1] - The case tests the limits of presidential power in imposing tariffs and whether it infringes on Congress's authority [2][3] Tariff Authorization - The hearing lasted nearly two and a half hours, with government representatives arguing in favor of tariffs and opposing counsel representing businesses and states [2] - Trump is the first president to invoke the International Emergency Economic Powers Act (IEEPA) to impose tariffs, claiming it is necessary for national security [2] - The Constitution grants Congress the power to levy taxes and tariffs, raising questions about the legality of Trump's actions [2][3] Major Questions Doctrine - The Supreme Court has previously used the "major questions doctrine" to overturn significant policies, requiring clear legislative authorization for actions with substantial economic and political impact [3][4] - The lower court ruled against Trump, stating that the tariffs lacked legal basis under this doctrine [4] Implications of the Hearing - The outcome of the case could have significant consequences, including potential refunds to importers if the tariffs are deemed illegal [6] - Recent data indicates that tariffs imposed under IEEPA have generated approximately $89 billion in revenue from February 4 to September 23 [6] - Market predictions regarding the likelihood of the Supreme Court supporting Trump's tariffs have decreased significantly following the hearing [6]