Overview
- The justices heard arguments Nov. 5 in V.O.S. Selections v. Trump on whether the International Emergency Economic Powers Act permits sweeping import duties without explicit congressional approval.
- Several justices signaled skepticism, with Chief Justice John Roberts noting tariffs function as taxes on Americans and questioning the administration’s claim that revenue is merely incidental.
- President Trump said an adverse ruling would trigger an economic and national security crisis, claiming a potential $3 trillion "unwind" of investments and repayments.
- Tariff collections continue during deliberations, with nearly $195 billion in revenue recorded through Sept. 30, according to trade figures cited by industry and legal sources.
- Importers and brokers point to itemized Customs entries that would facilitate repayments, though they expect significant administrative workload and likely Court of International Trade and CBP procedures to manage refunds.