The U.S. government requests the Supreme Court to expedite the review of the "tariff increase case," Trump: If defeated, may "terminate" trade agreements with Europe, Japan, and South Korea

The Wall Street Journal reported on the 4th that the U.S. government filed an appeal on the 3rd against a ruling that overturned former President Trump's global tariffs, requesting the Supreme Court to expedite the review, stating that the loss in the lower court has adversely affected the ongoing trade negotiations at the White House. Trump also stated that if the tariff case loses in the Supreme Court, he may have to "revoke" the trade agreements previously reached with the European Union, South Korea, Japan, and others, even warning that this could turn the U.S. into a "third world country." Bloomberg reported that Deputy Attorney General Sol submitted a document to the Supreme Court urging it to handle the case promptly. According to reports, it is highly likely that the Supreme Court will accept the case, but the justices still need to reach a consensus. The government is requesting the court to make a decision on acceptance before September 10 and to initiate proceedings as soon as possible, with arguments scheduled for early November. The document submitted by Sol also included a statement from Treasury Secretary Basant. The statement mentioned that the appellate court's ruling deprived the government of "important negotiating leverage," and "world leaders are questioning Trump's authority to impose tariffs, leading to a withdrawal or delay in negotiations." Basant stated that if the final ruling is postponed until June 2026, a situation may arise where "tariffs of $750 billion to $1 trillion have already been imposed, and revoking these tariffs could cause significant chaos." The U.S. Court of Appeals for the Federal Circuit upheld the previous lower court's ruling on August 29 with a vote of 7 to 4, stating that the emergency statute cited by Trump when approving tariffs on multiple countries did not authorize him to impose most of the tariffs. According to the ruling, the court allowed Trump's tariff measures to remain in effect until mid-October to enable the government to appeal to the Supreme Court. U.S. media reported that this ruling is a heavy blow to Trump's trade policy. Following the issuance of the ruling by the Federal Circuit Court of Appeals, Trump posted on social media that "all tariffs remain in effect" and stated that he would appeal to the Supreme Court. Reuters reported that the appellate court's ruling mainly concerns the legality of two sets of tariffs: one is the so-called "reciprocal tariffs" announced by Trump in April; the other is the tariffs imposed separately on China, Canada, and Mexico in February. Risk Warning and Disclaimer The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at their own risk