"U.S. Supreme Court could issue tariff ruling as early as midnight KST on the 20th"

Reported by U.S. business portal Yahoo Finance

U.S. business portal Yahoo Finance reported that markets are bracing for a tariff ruling as the U.S. Supreme Court is scheduled to convene at 10 a.m. on the 20th (midnight KST on the 20th) for the first time in weeks.

According to Yahoo Finance, the U.S. Supreme Court is set to call a session for the first time in weeks and is likely to issue a ruling related to tariffs.

The decision is expected to have major ramifications not only for tariffs but across all areas of U.S. economic policy. Since taking office, Trump has imposed sweeping tariffs worldwide, citing the International Emergency Economic Powers Act (IEEPA) enacted in 1977.

The Supreme Court will determine whether Trump’s imposition of tariffs under the IEEPA is legal or illegal.

Multiple outcomes remain possible, and the one certainty for investors is that markets will react violently regardless of how the ruling turns out.

However, whatever decision the Court issues this time, it will not be the final word on the matter.

Leading investment bank JPMorgan laid out three scenarios: Trump could prevail and keep the tariffs in place; he could lose and the tariff regime could collapse; or the Court could postpone a final decision until after the midterm elections.

It projected that, in any case, the S&P500 would move about 2% up or down. Tobin Marcus of Wolfe Research said the Court could rule to sharply curtail the White House’s authority to use the IEEPA to implement tariffs, while not refunding tariffs already collected—a move aimed at minimizing market disruption.

Yahoo Finance forecast that markets are likely to react sensitively to whatever decision the Court makes.

Choi Soo-jin, Hankyung.com reporter naive@hankyung.com