Tariffs Verdict: 73% Traders Bet US Supreme Court Will Strike Down Trump's Policy Move
The Supreme Court's full nine-member bench is expected to pass its ruling on the sweeping levies later in the day.
Majority of traders are betting against the US Supreme Court ruling in favour of President Donald Trump's hefty tariffs ahead of the apex court's judgement on their legality, according to blockchain-based prediction platform Polymarket.
The Supreme Court's full nine-member bench is expected to pass its ruling on the sweeping levies later in the day, and only 27% of them think it will be favourable for Trump, while 73% think the court's judgement will be unfavourable.
The court had to decide whether an American President can unilaterally impose such whopping levies on its trading partners, citing national security or emergency powers.
The ruling is going to be landmark in not just determining the future of Trump’s tariffs but also setting a precedent for how future presidents, Republican or Democrat, can invoke emergency powers to shape economic policy.
According to analysts, the court's decision will depend upon its interpretation of statutory authority versus presidential discretion.
The judgement is expected to be passed after 8 p.m. IST or 9:30 a.m. EST on Wednesday.
Meanwhile, Trump has been largely dismissive of criticism surrounding the tariffs, labelling the policy as "strongest and fastest economic turnaround" in the history of United States.
In a post on Truth Social, he had also highlighted how the country will have to pay billions of dollars in case the Supreme Court were to rule against the tariff policy.
"The actual numbers that we would have to pay back if, for any reason, the Supreme Court were to rule against the United States of America on Tariffs, would be many Hundreds of Billions of Dollars (sic)," the post stated.
