The U.S. Supreme Court will hear oral arguments on November 5 at 10 a.m. ET in a major case challenging former President Trump’s “reciprocal” tariffs.
The case was fast-tracked after the administration requested urgent review, and could (or could not) lead to some of Trump’s most sweeping tariffs being overturned.
These include broad country-specific levies, from a baseline 10% duty on nearly all U.S. imports to as high as 50% on certain nations such as Brazil. Also at risk are tariffs imposed on Canada, China, and Mexico over alleged failures to prevent fentanyl trafficking. The justices will consider two consolidated challenges to the tariffs during the first week of November.
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Tariff uncertainty adds volatility risk for USD, CAD, MXN, and CNY in early November:
- for equities, global trade-exposed sectors (autos, steel, agriculture) face headline-driven swings
- for commodities, potential tariff rollback could support commodity exporters like Brazil
This article was written by Eamonn Sheridan at investinglive.com.