Driving the news: President Trump has asked the Supreme Court to reverse an appeals court ruling that found most of his tariff policies illegal.
For context: A federal appeals court ruled 7-4 last week that Trump illegally used emergency powers to impose sweeping tariffs, though the duties remain in place during the appeal process.
Trump warned the country would "suffer so greatly" without the tariffs and suggested existing trade agreements could be canceled if the Supreme Court doesn't reverse the ruling.
The U.S. government has collected $159 billion in tariff revenue by late August, more than double the previous year, per NPR.
Why it matters: The Supreme Court case challenges the legal foundation of Trump's signature trade policy, with potentially massive financial consequences for the Treasury if tariffs are ruled invalid.
Bottom line: Whether the justices will be swayed remains to be seen, but the case could reshape presidential trade authority for years to come.
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