Why GOP lawmakers may be in 'politically sticky situation' with Trump's tariffs

Trade Policy & Legal Challenges - A federal appeals court ruled President Trump overstepped authority imposing tariffs, power lies with Congress [1][3] - The White House may take the case to the Supreme Court [1][3] - The ruling affects reciprocal tariffs and fentanyl trafficking tariffs on Canada, Mexico, and China, which remain in effect until October 14 [4] - Steel and aluminum tariffs, sectoral tariffs on semiconductors and pharmaceuticals, and some tariffs from Trump's first term are still allowed [5] Economic Impact & Market Reaction - The amount of tariffs collected is estimated between $1 billion and $150 billion [6] - Businesses would need to apply for rebates to get refunds on customs duties or import taxes already paid [7] - Potential tariff rollbacks may not be as catastrophic as portrayed [8] - Markets are currently driven by AI buildout and prospects for a Federal Reserve interest rate cut in September [16][17] - Tariff rollbacks could mean less inflationary pressure and more room for the Federal Reserve to cut rates [17] Political Implications - If the Supreme Court rules against the President, the White House might turn to Congress to implement tariffs, creating a politically difficult situation for Republicans [13][15] - Constituents are expressing concerns about the impact of tariffs on their finances [14]