Supreme Court expected to rule Friday on Trump's power to impose tariffs

Core Viewpoint - The Supreme Court is set to rule on the legality of President Trump's tariffs, which could significantly impact his trade agenda and economic strategy [1][10]. Tariff Revenue and Economic Impact - Tariff revenue has reached record levels, with collections increasing from $23.9 billion in May to $31.6 billion in September, totaling $215.2 billion for fiscal year 2025 [6]. - Since the beginning of the new fiscal year on October 1, over $98 billion has been collected from tariffs, indicating a strong revenue stream that supports Trump's economic policies [7]. Proposed Economic Initiatives - Trump has proposed using tariff revenue to provide a $2,000 dividend to low- and middle-income Americans by mid-2026, with any excess funds aimed at reducing the national debt of $38 trillion [7]. Legal and Policy Context - The Supreme Court's decision will determine if the International Emergency Economic Powers Act (IEEPA) grants the president the authority to impose tariffs, which is crucial for the continuation of Trump's economic agenda [1][10]. - The administration argues that these tariffs are essential to address perceived unfair global trade practices, highlighting the importance of trade policy in the overall economic strategy [10].