Supreme Court to Rule on Trump's Emergency Tariffs and Fed Case
The Supreme Court is set to decide on President Donald Trump’s use of emergency powers to impose tariffs on several countries, including Denmark and Germany. The tariffs, starting at 10% on February 1 and increasing to 25% by June 1, are framed as national security measures. Treasury Secretary Scott Bessent stated it is unlikely the Supreme Court will overturn this economic policy. In a separate matter, Federal Reserve Chair Jerome Powell will attend oral arguments regarding Trump’s attempt to fire Fed governor Lisa Cook. The case could allow Trump to appoint a majority on the Fed's board, impacting interest rate decisions. Cook has denied allegations of mortgage fraud and is currently suing to retain her position.
Published 5 hours ago • 20 Jan 2026, 02:26 AM IST