The U.S. Supreme Court will hear arguments on whether President Donald Trump has overstepped federal law in imposing tariffs. Mr. Trump has used tariffs not only as part of his economic agenda, but also as the cornerstone of his foreign policy, in his second term. The U.S. Constitution gives Congress the power to impose taxes. However, Mr. Trump has relied upon a 1977 law, where he contends that it gives him the presidential power to impose tariffs unilaterally during emergencies. Earlier this year, two lower courts found under the International Emergency Economic Powers Act, that he did not have the power to set tariffs. The Supreme Court’s six conservative justices have so far been receptive to Mr. Trump’s claims of expanded presidential authority.
Sam Bankman-Fried Gambled by Testifying and Lost
Sam Bankman-Fried, the former head of cryptocurrency exchange FTX, was found guilty of all seven criminal charges against him including securities fraud, wire fraud and money laundering. The New York federal jury reached its verdict after just five hours of...
