ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

US Supreme Court can stop Trump's tariffs from ruining your Christmas — here's how

Currently, arguments about the legality of the President's tariffs are being made and heard.
PUBLISHED 2 HOURS AGO
Representational image of President Donald Trump (Cover Image Source: Getty Images| Photo by Samuel Corum)
Representational image of President Donald Trump (Cover Image Source: Getty Images| Photo by Samuel Corum)

The holiday season is here, and American consumers are gearing up for shopping events such as Black Friday while waiting for Christmas. It's that time of the year when American businesses generate the highest revenue. But in 2025, they face uncertainty, largely because of President Donald Trump's tariffs. As Trump's policies have cast a shadow over festivities, people are hoping for the country's top court to step in.

Cover Image Source: Getty Images | Photo by Chip Somodevilla
Photo of US President Donald Trump. (Image Source: Getty Images | Photo by Chip Somodevilla)

According to a report in the Bulwark, the one federal body that can make life easier for consumers and business owners this holiday season is the Supreme Court. The United States is facing a rare yet challenging economic situation at the moment called stagflation. It is characterized by rising prices, or inflation, and a slowing economy, or stagnation. Now, there are a couple of things that the government can do about it.

The Federal Reserve can cut interest rates, or Congress can pass tax cuts. However, few might know about the unconventional third option that the Supreme Court can use. Trump’s tariffs have been in effect for several months now, but their legality is something that is still being discussed in the highest body of the American judiciary.

The Florida Supreme Court building | Mark Wallheiser | Getty Images
The Florida Supreme Court building (Image source: Getty Images | Mark Wallheiser)

Of course, there is a fourth option, which might never be used. It involves President Trump slashing tariffs, as that’s what is raising prices of almost everything under the sun and slowing the economy down at the same time. Therefore, it is now up to the Supreme Court to decide if these tariffs are even legal and if they should be allowed to continue.

The judges were not convinced after hearing arguments recently that the President has as much power over the matter as he might believe. Chances are that a lot of these tariffs might be judged as illegal. The government will have no choice but to roll them back if that is the case. Many businesses will be relieved if that happens, especially the ones that are hoping to make the most of the demand ahead of Christmas.

Former U.S. President Donald Trump salutes supporters during a campaign rally | Getty Images | Photo by Justin Sullivan
Image of U.S. President Donald Trump saluting. (Image source: Getty Images | Photo by Justin Sullivan)

One such business is Balsam Hill, which sells pre-lit artificial Christmas trees. Such products are not economically viable to produce in the United States and have to be imported. As a result, the tariffs have been hurting such companies the most. “We have ordered and canceled and uncanceled and recanceled so many different times as the tariff rates went up and down and again,” Mac Harman, CEO of the company, said. “I feel like I really can’t go more than six hours without following the news.”

Representative image of a Christmas tree. (Image credit: Getty Images | Siri Stafford)
Representative image of a Christmas tree. (Image credit: Getty Images | Siri Stafford)

More on Market Realist:

Walmart could suffer a massive $2 billion loss as Trump admin halts SNAP benefits

Trump's OBBBA offers $10,000 tax rebate on car loans — but here's why it's useless for most Americans

Nvidia CEO says China ‘will win’ AI race with US — and then quickly corrected himself

MORE ON MARKET REALIST
The bird's stock in the US is the lowest of the last 40 years thanks to a deadly avian flu.
13 minutes ago
The company claimed that there were concerns about physical safety with the bottles.
1 hour ago
Currently, arguments about the legality of the President's tariffs are being made and heard.
2 hours ago
She composed herself just well enough to be able to thank host Drew Carey after her big win.
2 hours ago
The contestant was flexing his muscles and the host might have taken offence at that.
3 hours ago
A lot of people would have wanted to swat the creature had it sat on their bodies out of fear.
5 hours ago
The 1979 contestant had won a car during her time on the show, but her student failed to do so.
6 hours ago
The company has issued an apology in a statement for the inconvenience caused.
1 day ago
Michael Burry made a return to X with a cryptic message warning against the 'AI Bubble'.
1 day ago
The host had no idea what the contestant was saying until he cleared it up.
1 day ago
Ryan Seacrest was surprised that the contestant was able to get it right so quick.
1 day ago
The creator claimed that it was all part of a bigger business model that got the bigger brands paid.
1 day ago
The group received massive backlash on social media from the show's fans for their trouble.
1 day ago
The two had become close friends during their time on the show, which saw Jennings become a legend.
2 days ago
The contestant had seemingly broken a few things that belonged to her father in her younger days.
2 days ago
At a price of just $4.99, the rotisserie chicken is one of the most popular Costco items.
2 days ago
The audience member let out a large cheer when a contestant said what an ex could teach a wife.
2 days ago
McMillon did not say that there were going to be layoffs, but that has been the theme at other places.
3 days ago
Most shoppers are aware of Costco's warehouse stores but that's not all they have.
3 days ago
These deals will be available until November 16, so it's best if one hurries and gets the products for cheap.
3 days ago