Washington, Aug. 31 -- With US President Donald Trump suffering his biggest legal defeat to date on Friday on the tariff case, after a federal appeals court ruled that he had exceeded presidential authority by using emergency powers to impose sweeping tariffs on almost all countries, the final authority to determine the fate of the US economy could be the Supreme Court, reports Axios.
In a 7-4 decision on Friday, the US Court of Appeals for the Federal Circuit found that the International Emergency Economic Powers Act (IEEPA) did not give the president authority to levy taxes or tariffs.
The ruling voided Trump's global tariff regime, describing the measures as "unbounded in scope, amount and duration," and beyond the limits of the law in...